Renasant Bank Mortgage Review 2020

By Jennifer Bradley Franklin

About our reviews

Bankrate’s editorial team researches, reviews and rates lenders to help you find one that fits your needs. Our experts consider a range of factors, including rates, loan types, time to close, fees and more. Reviews are updated regularly. Bankrate is an independent, advertising-supported comparison service. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy.

Renasant Bank

Bankrate Score

  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

4.1

User reviews
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
( 51 )

4.8

Please note: In response to the coronavirus pandemic, lenders are changing their requirements continuously. Although we strive for accuracy at the time of publication, please be sure to check with the lender for updated details on down payments, credit scores, etc.

Renasant Bank is a collection of community banks spread across the Southeastern U.S., with branch locations in Alabama, Florida, Georgia, Mississippi and Tennessee. According to company press releases, the bank has more than 200 offices and approximately $13.9 billion in assets. In addition to mortgages and refinancing, it offers banking services, wealth management and financial services. The bank, which began in 1904 as The Peoples Bank & Trust Company, maintains corporate headquarters in Tupelo, Mississippi. Over the years, it has acquired various other local banks, including Renasant Bancshares of Memphis, Tennessee, the company that would inspire the current name, in July 2004.

Nationwide availability

Available in all U.S. states

Minimum credit score

640 for conventional loans; 640 for FHA loans

Loan types

Conventional, jumbo, fixed, adjustable (ARM), VA, FHA, USDA and Georgia Dream; refinancing options include cash-out refinancing and no-cash out refinancing; home equity loans and home equity lines of credit (HELOCs)

Pros

  • Offers community home improvement loans of up to $25,000 with a credit score as low as 640
  • In some cases, rate locks are available to customers immediately after filling out the online application
  • Licensed to make loans in all states nationwide

Cons

  • Doesn’t publish interest rates, minimum borrower requirements or fees; potential borrowers must start the application process to discover this information
  • Only has branch locations in Alabama, Florida, Georgia, Mississippi and Tennessee
  • Charges loan origination fees

Find your mortgage match

Get paired with your best mortgage offers in 2 minutes or less.

Renasant Bank overview

Loan types

  • Conventional
  • Jumbo
  • Fixed
  • Adjustable (ARM)
  • VA
  • FHA
  • USDA
  • Georgia Dream
  • Refinancing including cash-out refinancing and no-cash out refinancing
  • Home equity loans and home equity lines of credit (HELOCs)

Lender fees

Renasant Bank does not publish or disclose its lender fees; however, according to the website, it defines origination fee as “the percentage of the new mortgage that is paid to the lender…Typically, this fee is 1 percent of the loan balance.”

Minimum borrower requirements

Renasant Bank does not disclose minimum borrower requirements on its website and encourages individual borrowers to connect directly with a mortgage consultant to see which loan is the best option based on their situation and available funds.

For FHA loans, the bank has a minimum down payment requirement of 3.5 percent. Some of the conventional loan programs will allow borrowers to finance as much as 97 percent (with a 3 percent down payment). Renasant Bank representatives declined to share specifics on the maximum debt-to-income (DTI) ratio requirements.

Get started with Renasant Bank

Borrowers can apply in person, online or by phone. If you apply online, a representative will contact you.

Hours

Monday - Friday: 7 a.m. - 7 p.m. CST Saturday: 8 a.m. - 2 p.m. CST Sunday: Closed

Renasant Bank consumer rating and reviews

4.8 reviews
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

96% recommended

Purchasing a new home? Refinancing your current home? We're here for you. Our experienced mortgage lending professionals will guide you through the process. They'll make you feel right at home.

  • Strong direct lender with in-house operations to take you from application to closing.
  • We have over 100 years of experience in mortgage lending and banking.
  • We have options to fit almost every need including conventional and government loans.

Customer Service Rating

Knowledge
4.8
Level of service
4.8
Professionalism
4.8
Responsiveness
4.8
0 out of 0 rates honored
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
(51 reviews)
5 Star
4 Star
3 Star
2 Star
1 Star
48
1
0
0
2

The reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

Arrow icon
Showing 10 of 24 Reviews
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Mark H
Charlotte, NC

7/10/2019

Highly Recommend

It is because of the reviews I saw on this site that I decided to go with Brandon at Renasant bank. I was a bit nervous because I didn’t know the bank and it was an online search. Not only was the bank extremely competitive in their product, but their customer service and handling of the closing ...

RenasantBank replied to this:
"Thank you, Mark. It was a pleasure working with you."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Ryan
Houston, TX

8/1/2019

Prompt, Attentive, Professional

It was a pleasure working with Brondon Thors at Renasant. He was very professional and extremely attentive. If he didn't pick up the phone immediately he called back promptly. There were no surprises and all went smoothly and as presented.

RenasantBank replied to this:
"Thank you, Ryan, and thank you for choosing Renasant Bank."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Ken
Plano, TX

8/12/2019

Excellent Experience

Professional, no surprises, met my needs exactly, and offered flexibility that helped makes sure I had no issues closing on my new home. I would definitely do business with Renasant again.

RenasantBank replied to this:
"Thanks, Ken. Good luck in your new home!"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Jeremy
Mebane, NC

8/27/2019

Great Experience

With the professional team at Renasant Bank I was able to lock an awesome rate and close on the home within the 30 day lock period. The team at Renasant provided assistance throughout the process to ensure the closing deadline was met.

RenasantBank replied to this:
"Thank you, Jeremy. Thanks for choosing Renasant Bank."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

James R.
Oklahoma

9/6/2019

Best Mortgage Experience (10th house purchase)

Brandon was professional and available throughout the process, although they have made the experience so seamless very few questions were needed! Kim was thorough and professional in gathering and submitting all documentation, couldn't have asked for more! Highly recommend!

RenasantBank replied to this:
"Thanks, James. We appreciate you choosing Renasant Bank."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

John D
Michigan

9/7/2019

Thank you!

Just wanted to take a minute this morning to thank the Renasant team, especially you Jay Pardue, for your professionalism and diligence. Although there were a couple of hiccups (when isn't there?), they were resolved quickly. Your experience and knowledge was in full display throughout the process...

RenasantBank replied to this:
"Thank you, John. We are glad that everything worked out in the end."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

LLP
Colorado

9/13/2019

Best Rate, Best Customer Service

Ryan offered the best service hands down. Patient, professional and thorough he stayed with us until the very end making sure each document was submitted in a timely manner. The entire team at Renasant Bank worked tirelessly, day and night, and even through the hurricane that struck in their part of...

RenasantBank replied to this:
"Thank you for choosing Renasant Bank."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

Dan J
Louisiana

9/16/2019

Great Rate and Even Better Personnel

Renasant bank and specifically Jay and Jen were awesome. Dealing with a really short closing date, they knocked it out of the park. I would highly recommend this team for your next mortgage. Great communication and teamwork throughout the process.

RenasantBank replied to this:
"Thanks, Dan. We appreciate you choosing Renasant Bank for your financing."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

kadie1414
Gilbert, AZ

10/3/2019

Lowest fees I could find for my refi

I have to say when I started my refi process, I first reached out to all my local banks. I obtained loan estimates from them and then just for fun decided to check what was being offered on bankrate.com. I discovered Renasant Bank at that time. I called and spoke with Brandon Thors who was very prof...

RenasantBank replied to this:
"Thank you for choosing Renasant Bank!"
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon
  • Star icon

D Meyer
Prescott AZ

10/12/2019

Overall great experience

We had a great experience working with Jay Pardue and everyone handling our refinance. I would recommend Jay to anyone wanting professional assistance!

RenasantBank replied to this:
"We appreciate you choosing Renasant Bank for the financing of your home."
Knowledge
5.0
Level of service
5.0
Professionalism
5.0
Responsiveness
5.0
Rates honored:
Yes
Would recommend:
Yes
Mortgage closed:
Yes
Closed on time:
Yes