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Renasant Bank is good for borrowers who plan to buy or build a home in the Southeast and who want to do business with a brick-and-mortar bank.
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Star ranking and total number reflects the lifetime customer reviews received while this lender has been an advertiser on Bankrate.
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Loans offered
Conventional, jumbo, FHA, VA, USDA, refinancing; HELOC; construction loans
Min. credit score required
620 for conventional loans, 600 for FHA loans
Nationwide availability
Available in 31 states, including Florida, Georgia, Ohio, Pennsylvania, Texas
Min. down payment
3% for conventional loans, 3.5% for FHA loans, none for VA loans
NMLS: 402669
4.7
Bankrate Score
Loans offered
Conventional, jumbo, FHA, VA, USDA, refinancing; HELOC; construction loans
Nationwide Availability
Available in 31 states, including Florida, Georgia, Ohio, Pennsylvania, Texas
Min. credit score required
620 for conventional loans, 600 for FHA loans
Renasant Bank operates nearly 200 locations across Mississippi (where it was founded in 1904), Alabama, Florida, Georgia, North Carolina, South Carolina and Tennessee. As of mid-2023, it had $17.5 billion in assets. Along with the standard suite of mortgage options, the lender also offers new-construction loans with six- to 12-month terms and renovation loans. Renasant was the nation’s 113th-largest mortgage lender in 2022, according to federal data.
Offers home equity lines of credit (HELOCs)
Offers online payment feature
More than 200 branches
Website experience offers limited information
Branches limited to only a handful of states
Renasant Bank is good for borrowers who plan to buy or build a home in the Southeast and who want to do business with a brick-and-mortar bank.
To determine Renasant Bank’s Bankrate Score, Bankrate’s editorial team rated it and other lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. (Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews.) We derived its overall score by considering three basic factors:
Affordability differs from lender to lender, so comparing costs is key. Renasant Bank’s mortgage rates are generally competitive compared to Bankrate’s averages, but the bank doesn’t display daily rates or disclose fees on its website. To begin the loan process and learn what rate you might qualify for, you can connect with a loan officer using the bank’s online state search tool or by visiting a branch location.
This factor can make the overall mortgage application process smoother or more challenging. Renasant Bank works with borrowers of various types of mortgages, including conventional and government-insured loans (the FHA, VA and USDA programs). The bank also offers refinancing if you’re looking to obtain a lower rate, shorten your loan term or take cash out, along with construction loans. You’ll need a credit score of at least 620 to qualify for a conventional loan, and at least 600 for an FHA loan. (For the latter, this is slightly higher than what some other lenders require.)
Know what to expect when you work with a specific lender. Renasant Bank has been in business for more than 100 years, and it has an A+ rating from the Better Business Bureau. If you’re eligible for a mortgage, you can expect a conditional approval in 48 hours, and the bank can close in as little as three weeks. The bank’s website, however, is fairly limited in terms of loan information or resources. There are a few calculators to estimate affordability and help with refinance decisions, but for the most part, you’ll need to share your information with a loan officer to understand loan costs.
You can apply for a purchase loan or a refinance in person at one of Renasant Bank’s branch locations or via the bank’s website. Its phone lines are staffed from 9 a.m. to 6 p.m. ET.
Here are some tips to prepare for the process:
Renasant Bank refinances existing mortgages. Before you start, think about your goals. Are you refinancing to adjust your current mortgage’s rate and term? Do you want to tap into home equity? Do you want to change loan programs, such as refinancing out of an FHA loan into a conventional mortgage? Once you’ve settled on those details, you can apply through the bank’s website, at a branch location or via its call center.
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Rating: 4.7 stars out of 5
4.7
Bankrate Score
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Loans offered Conventional, jumbo, FHA, VA, USDA, refinancing; HELOC; construction loans |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term and cash-out refinancing; construction and renovation loans |
Loans offered Conventional, jumbo, FHA, VA, fixed-rate, adjustable-rate; rate-and-term, cash-out and streamline refinancing; home equity loan; investment property; flex-term |
Min. credit score required 620 for conventional loans, 600 for FHA loans |
Min. credit score required 620 for conventional loans, 700 for jumbo loans, 580 for FHA loans, 620 for VA loans |
Min. credit score required 620 for conventional loans, 680 for jumbo loans, 580 for FHA loans, 580 for VA loans |
Down payment 3% for conventional loans, 3.5% for FHA loans, none for VA loans |
Down payment 3.5% for FHA loans |
Down payment 3% for conventional loans; 10%-15% for jumbo loans; 3.5% for FHA; none for VA loans |
Nationwide availability Available in 31 states, including Florida, Georgia, Ohio, Pennsylvania, Texas |
Nationwide availability Available in all U.S. states |
Nationwide availability All U.S. states |
NMLS: 402669
4.8
67 ratings
This lender has 0 reviews.
96% of customers would recommend this lender.