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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.
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.