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Simmons Bank: 2024 Home Equity Review

This lender offers limited information on its website about the terms of its HELOC.

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Simmons Bank

Simmons Bank

Products offered
APR range
Credit score requirements
Contact information

Simmons Bank offers mortgages and refinances for homeowners in only six states (Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas), as well as a home equity line of credit, or HELOC, that allows you to borrow against the value of your property to finance major life expenses, be it from remodeling your home to funding for a child’s college tuition. 

While Simmons’ website provides scant information about its HELOC offering -- there’s no mention of its APR, loan amount, credit score requirement and average approval time -- it notes that you can apply for a HELOC in person at a local branch. 

Simmons Bank: At a glance

A Simmons Bank HELOC is best suited for homeowners who live in the six states it services (it doesn’t offer home loans to people outside of those states). The draw period for a Simmons Bank HELOC is 10 years, which is shorter than the typical 20-year draw period many lenders offer. Although Simmons doesn’t provide much information on its website about the specific rates and terms of its HELOC, it claims it offers affordable interest rates and flexible repayment terms.

Pros and cons


  • High borrowing ratio: You can borrow up to 89% of your home’s value, which is on the high end of the spectrum for most lenders, as some will only let you borrow up to 75% of your home’s available equity.

  • In-person application: If you prefer working with a loan officer directly, you can apply at a Simmons branch.


  • Limited availability: The Simmons Bank HELOC is only available to homeowners in only six states where the bank operates: Arkansas, Kansas, Missouri, Oklahoma, Tennessee and Texas.

  • Limited HELOC information: Simmons doesn’t list key facts about its HELOC offering such as the APR, credit score minimum and loan amount on its website that can help people decide whether it’s the right loan for their financial circumstances.

Home equity loan options

The bank offers a HELOC in addition to mortgages and refinancing.


Simmons Bank doesn’t disclose on its website the fees associated with its HELOC, but the bank maintains that it offers affordable interest rates and flexible repayment terms. 

How to qualify

While Simmons doesn’t provide details about the minimum credit score required to qualify for its HELOC, the general rule of thumb is that the higher your score, the more attractive a candidate you are to receive approval for a loan (and the more favorable rates and terms you’ll receive from your lender). 

In addition to having enough equity built up in your property, most lenders prefer to see a debt-to-income, or DTI, ratio of 36% or less, but no higher than 43%. That’s to make sure you can comfortably afford an additional monthly mortgage payment to your budget. 

Getting started

A HELOC is a second mortgage, so be prepared to gather all of your personal and financial documents for your lender to review just as you did for your first mortgage. You’ll be required to show proof of adequate income and secure employment through items such as your Form W-2 and pay stubs, as well your existing mortgage statements to demonstrate you’ve been making consistent and on-time mortgage payments. You’ll also need a current government-issued ID such as a state-issued driver’s license. 

Customer service

You can reach Simmons Bank’s customer service office at 866-246-2400 Monday through Friday from 7:30 a.m. to 6 p.m. CT and Saturdays from 8 a.m. to 12 p.m. CT.

About Simmons Bank

Founded in 1903, Simmons Bank is headquartered in Little Rock, Arkansas and has more than $27 billion in assets under management. It operates in six states and has more than 2,800 employees. 

Alix is a former CNET Money staff writer. She also previously reported on retirement and investing for and was a staff writer at Time magazine. Her work has also appeared in various publications, such as Fortune, InStyle and Travel + Leisure, and she also worked in social media and digital production at NBC Nightly News with Lester Holt and NY1. She graduated from the Craig Newmark Graduate School of Journalism at CUNY and Villanova University. When not checking Twitter, Alix likes to hike, play tennis and watch her neighbors' dogs. Now based out of Los Angeles, Alix doesn't miss the New York City subway one bit.
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