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Magnolia Bank Home Equity Loans Review

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Founded in 1919, Magnolia Bank has helped customers achieve their financial goals for over a century. Although it still maintains its community bank roots, Magnolia is also a national lender, helping borrowers with a slew of loan products, including cash-out refinancing. As of 2020, it had over $400 million in total assets.

How is Magnolia Bank rated?

Breakdown

Overall Rating: 0 / 5 (N/A)

Though not as large as some of the major players in the home equity market, Magnolia Bank is still one of the top mortgage originators in the country, with more than $1 billion in annual home closings.

The company is known for its personal touch in customer service, helping borrowers along the way during the refinance process. Although they do not offer stand-alone HELOCs or home equity loans, Magnolia is an ideal choice for any borrower considering a cash-out refi.

Its emphasis on direct and personalized customer support means its website does not contain much information regarding its products and services. However, they offer online quotes and applications, and borrowers who live in certain cities can visit one of its branches or local offices to receive additional assistance.

Magnolia Bank Features

Lender Type
Bank
Loan Types Available
Home Equity Line of Credit
Cash-out Refinance
Waived Fees
Application Fee
Origination Fee
$0
Application Fee
$0

Magnolia Bank Qualifications

Loan Qualifications
Proof of Employment
Minimum Credit Score
620

Magnolia Bank Customer Experience

Site Features & Technology
Online Application
Online Quote
Online Document Upload

Memberships & Accreditations
Equal Opportunity Lender
Insured by Federal Housing Administration
Nationwide Mortgage Licensing System ID
423028
Trust Pilot Rating
4.5 out of 5
BBB Rating
A+
Date Collected
2021-04-13

Contact & Additional Information

Homepage URL
Company Phone
(270) 358-3111
Headquarters Address
649 W Dixie St., Elizabethtown, KY, 42701
Year Founded
1919

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