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

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4.1

User reviews
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( 53 )

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

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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
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96% recommended

Customer Service Rating

Knowledge
4.8
Level of service
4.8
Professionalism
4.8
Responsiveness
4.8
0 out of 0 rates honored
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(53 reviews)
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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.

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Showing 10 of 18 Reviews
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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
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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
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Craig
Papillion, NE

10/21/2019

Very good refinance process

Our refinancing process went very smoothly and seamlessly. Brandon Thors did a great job of communicating and answering and questions we had through out the entire process.

RenasantBank replied to this:
"Thank you, Craig, 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
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Greg and Donna
Nevada

11/15/2019

Closed In Less Than 30 Days

After the new home builder's loan company dropped the ball and less than 30 days before closing, we turned to Bankrate for alternative loan companies and Renesant Bank was one of the few recommendations that popped up. Brandon Thors was our contact person and from the very beginning was clear on who...

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
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J & M Nesh
Michigan

11/20/2019

Great partner to work with

We had three potential deals, each time Brandon Thor's took time to provide me with estimates and answer my questions. When we found the right place, the deal came through quickly and without any hangups. 10/10 would use again.

RenasantBank replied to this:
"We are glad that things worked out in the end. 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
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Keiths
Mansfield, TX

2/27/2020

Perfect Experience!

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,...

RenasantBank replied to this:
"We are very glad that things worked out in the end. 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
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Michael and Jennifer
Tomball, TX

5/1/2020

Amazing!!!

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!

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
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Laura E.
Texas

5/6/2020

Lowest Rate. Seamless Process.

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...

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
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Jaime
Texas

5/7/2020

Smooth and Easy

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...

RenasantBank replied to this:
"We are glad things went so well. 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
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Sean
Uniontown, OH

5/19/2020

Call Renasant Bank!

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

RenasantBank replied to this:
"We appreciate you choosing Renasant Bank for all of your financing needs."
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