Renasant Bank Mortgage Review 2021
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.
At a glance
NMLS: 402669
4.1
Bankrate Score
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Find my best matchesLoans offered
Conventional, jumbo, fixed, adjustable (ARM), VA, FHA, USDA, Georgia Dream; refinancing options include cash-out refinancing and no-cash out refinancing; home equity loans and home equity lines of credit (HELOCs)Nationwide availability
Available in all U.S. statesMin. credit score required
640 for conventional loans; 580 for FHA loansPros and cons
Pros
- Offers community home improvement loans of up to $25,000 with a credit score as low as 640
- Rate-locks available to some customers immediately after filling out online application
- Licensed to make loans in all states
Cons
- Doesn’t publish interest rates, minimum borrower requirements or fees; potential borrowers must start the application process to find out
- Branch locations limited
- Charges loan origination fees
Renasant Bank overview
Renasant Bank is a collection of community banks spread across the Southeastern U.S., with branch locations in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina and Tennessee. The bank has more than 200 offices and approximately $14.8 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 2004.
Loan types
- Conventional
- Jumbo
- Fixed
- Adjustable (ARM)
- VA
- FHA
- USDA
- Georgia Dream
- Cash-out refinancing
- No-cash out refinancing
- Home equity loans
- Home equity lines of credit (HELOCs)
Lender fees
Renasant Bank does not publish or disclose its lender fees; however, according to its 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 best based on their situation and available funds.
For FHA loans, Renasant Bank has a minimum down payment requirement of 3.5 percent. Some of the conventional loan programs 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.
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Renasant Bank consumer reviews
4.8
55 reviews
Customer service rating
96% of reviews would recommend this lender
0 of 0 rates honored
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The consumer 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.
To help serve you with relevant information the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.
Perfect Experience!
Keiths | Mansfield, TX | 2/27/2020
We loved working with Brandon and Jenn! They kept working with us when we ran into an issue during the process (something that didn’t have anything to do with the bank). We ended up with a better deal than we were even quoted in the beginning! A lot of banks/mortgage companies would have given up,...
Response from RenasantBank
We are very glad that things worked out in the end. Thank you for choosing Renasant Bank!
Amazing!!!
Michael and Jennifer | Tomball, TX | 5/1/2020
Brandon is a miracle worker! We had a practically impossible closing timeline, and somehow he made it happen! He was always available and always helpful. We are SO thankful for his hard work and highly recommend him to anyone looking to purchase a home!
Lowest Rate. Seamless Process.
Laura E. | Texas | 5/6/2020
I'd started looking into refinancing when rates dropped back in February 2020 - did extensive shopping around, and finally settled on a rate and associated closing cost I was okay with. On a whim, I checked bankrate again late one night, and Renasant Bank popped up so I sent a request for more infor...
Smooth and Easy
Jaime | Texas | 5/7/2020
The entire process went smoothly. We closed in less than 30 days. Brandon Thors was so helpful and answered every question we had. He goes above and beyond. Customer service from Renasant team is second to none. They also had the best rate and fees which was the original reason to choose them. I can...
Response from RenasantBank
We are glad things went so well. Thank you for choosing Renasant Bank.
Call Renasant Bank!
Sean | Uniontown, OH | 5/19/2020
Brandon Thors was a pleasure to work with. He was quick to respond to my emails and had patience with questions. I ending up learning a lot from Brandon during the process. Sean
Response from RenasantBank
We appreciate you choosing Renasant Bank for all of your financing needs.
Great Lender Experience
Bob W. | Maumelle, AR | 5/19/2020
The entire process from start to finish went very smooth. Brandon and Jen did a terrific job handling the application, loan approval and funding in time for closing.
Response from RenasantBank
We appreciate the feedback. Thank you for using Renasant Bank.
Easy, start to finish
Nathan | Kentucky | 5/28/2020
Working with Brandon was a true pleasure. He explained everything very thoroughly and made sure we were comfortable every step of the way.
Response from RenasantBank
Thank you, Nathan, and thank you for using Renasant Bank.
Best mortgage experience
Adam S. | Birmingham, AL | 6/5/2020
By far the best mortgage/refi experience I have ever had. Jay was great. Very transparent. Providing the loan application attachments through their online portal made the application process very easy. Would recommend Renasant Bank to anyone shopping for their mortgage/refi needs.
Response from RenasantBank
Thanks for choosing Renasant Bank!
Great experience!
SD | Houston, TX | 6/22/2020
I have done many purchase and refinance loans on primary residence and rental homes over the years. My experience with Renasant was great: they have really competitive rates (local brokers were at least 0.25% higher), very low fees (2 other local brokers quotes 1% origination fee - theirs is only $1...
Response from RenasantBank
Thank you for your kind words. We appreciate the opportunity to work with you.
Great Experience!
Slade | Southside, AL | 7/16/2020
The entire process went smoothly. Great group to work with.