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Get a fixed rate as low as 6.375% APR with auto pay — and no closing costs.
You should consult privacy disclosures at the linked website for further information. Now that EnerBank USA is part of the Regions family, good things are ahead for home improvement contractors and homeowners everywhere! We know that people are our greatest asset, so we pride ourselves on taking care of our customers. If your customer's loan has been approved, there will be no disruption in terms, funding, or rates. The acquisition won't change your customer's loan terms or repayment schedule. You will still be able to provide homeowners with high-quality service and support.
Comparison shop home improvement loans
Regions Financial Corporation is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions operates more than 1,300 banking offices and 2,000 ATMs throughout the Southeast, the Midwest, and Texas. With the addition of home improvement lender EnerBank to the Regions family, Regions Bank expands its suite of lending services to homeowners by adding point-of-sale home improvement financing capabilities. EnerBank USA® is the largest specialized home improvement FDIC-insured bank in the country, providing home improvement loans through strategic business partners and independent home improvement contractors.
That's why we made it so easy to apply for a Home Equity Loan in just minutes. From home improvements to getting cash for a large purchase and beyond, we offer the financial support to make it all happen. While making your home safe or even comfortable is important, many borrowers experience financial strain month-in and month-out after all their bills are paid.
Need a plan for emergency expenses? Consider a Home Equity Line of Credit.
Rate discounts are available if you elect to have your monthly payments automatically debited from your Regions checking account through our Automatic Payment Option. Rate discount must be applied prior to loan closing and is not available if you enroll in auto-debit at a later date. The amount of the discount varies based on your type of relationship with Regions, ranging from 0.25% up to 0.50%.
The company works hand-in-hand with manufacturers, distributors, franchisors, and major retailers of home improvement, remodeling, and energy-saving products and services. EnerBank’s mission is to grow contractors’ businesses by increasing leads, boosting close rates, and growing average job size, while helping homeowners fulfill their home improvement dreams. The company’s Mobile Loan App makes receiving lending approvals and funding requests quick and easy.
LOAN PROGRAMS
The privacy policies and security at the linked website may differ from Regions' privacy and security policies and procedures. Customer information provided in order to set up this appointment will not be used to update any customer records, and this information will only be used to service this appointment. This information is general in nature and is provided for educational purposes only. Regions makes no representations as to the accuracy, completeness, timeliness, suitability, or validity of any information presented. Information provided and statements made by employees of Regions should not be relied on or interpreted as accounting, financial planning, investment, legal, or tax advice. Regions encourages you to consult a professional for advice applicable to your specific situation.
Regions has heavily invested into making the business experience and the homeowner experience faster and more convenient. Don't ask for more money than you actually need and be specific about its purpose on your application. Work to bring your credit card balances down to improve your credit utilization. We have a host of helpful articles, home equity calculators and other tools to make the process easier. Apply for a Home Equity Loan in just minutes, so you can focus on the important things in life.
Find out the details of the unsecured personal loans offered by Regions Bank and compare the interest rates and fees to other personal loan options. Since 2002, Salt Lake City-based EnerBank has offered leading home improvement loan programs to U.S.-based contractors and enterprise-level strategic partners in the home improvement industry. To make sure you are getting the best deal, comparison shop with several lenders, including your mortgage servicer. This traditional bank, which operates over 1,500 branches in 15 states throughout the south and midwest, now partners with online lender Avant to offer personal loans. Lending services are delivered directly to homeowners at the point of sale via contractors who are part of EnerBank’s national network.
That's appealing if you're tackling something big, like a major kitchen overhaul. Then, look at what other brick-and-mortar banks, credit unions or online lenders offer. If you have excellent credit, you may be able to find a better rate with an online lender. Don't apply for any other new loans or credit cards in the meantime.
“Most borrowers would benefit by shopping around to see where the best terms are,” McBride said. EnerBank has worked with hundreds of loan program sponsors, including thousands of home improvement contractors. We believe by providing tools and education we can help people optimize their finances to regain control of their future. While our articles may include or feature select companies, vendors, and products, our approach to compiling such is equitable and unbiased.
If you already bank with Regions, these unsecured personal loans are worth a look. In addition to the tax deductions that may be possible using a home equity loan or line of credit, Gore recommends talking to your accountant and investigating other rebates and deductions based on your project. There may be state or federal rebates for energy-efficiency products such as solar panels and high-efficiency appliances. If you are making your home accessible for someone with a disability, you may be eligible for medical expense deductions.
Matt Gore, Regions Consumer Banking Manager, offers the following advice for home improvement payment options. When you're looking for a personal loan from a bank, also check to see if you need to have an account to apply for a loan. You shouldn't apply for any personal loan without first checking out other lenders.
So, be prepared to supply a lot of paperwork to prove your financial standing. Based in Salt Lake City, Utah, EnerBank has a nationwide reach, serving over one million homeowners since inception and currently 10,000+ contractors through mobile, online, and phone-based point-of-sale lending options. With approximately $2.8 billion in loan balances as of March 31, 2021, EnerBank’s platform complements Regions’ recent investments in mortgage and home equity lending services.
If your checking account is a Regions checking account, you may qualify for a rate discount. If you don’t have cash on hand to make improvements to your home, there are four common home improvement loan options that can help you access the needed funds. For emergency repairs, Gore suggests applying for a home equity line of credit. Ideally, this should be done before a need arises so you have the capability to access same-day funds when an emergency happens.
It can take up to 45 days to get approval — and you should be aware of inactivity or other potential fees — but having access to immediate funds may be worth the effort. “It’s designed for you to have peace of mind on days when emergencies come up,” Gore said. If you choose to use the equity in your home as collateral in your loan, the lender will also order an appraisal of your home.
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