Nationwide Home Equity Loans Review

Rating: 8 / 10 (Very good)
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Nationwide Bank is a federally chartered savings bank and member of the FDIC. The institution specializes in providing financial services that include banking, annuities, insurance, retirement planning and home equity loans. Based in Ohio and founded in 1926, the company is a direct lender, rather than an aggregator.

How is Nationwide rated?

Breakdown

9/10
Loans
8/10
Qualifications
8/10
Reputation
8/10
Consumer Experience

Overall Rating: 8 / 10 (Very good)

Nationwide is primarily associated with auto insurance, but they offer a variety of other banking products, including home equity loans, lines of credit, and mortgage refinance. The high standards they set for their Home Lending Counselors is reflected in their consistently good customer satisfaction. However, their website is lacking in some of the educational resources that other lenders include as a matter of course.

Nationwide Loans

Lender Type
Bank
Loan Types Available
Home Equity Loan
Home Equity Line of Credit
Minimum Home Equity Loan
$10,000
Maximum Home Equity Loan
$750,000
Minimum HELOC
$10,000
Maximum HELOC
$750,000
Max HELOC Draw Period
10 years
HELOC Fixed Rates Starting At
3.90%
HELOC Annual Fees
$0

Loans - 8.5 / 10

Nationwide provides three different ways for homeowners to access their home equity: via loans, lines of credit, or mortgage refinance. They also offer jumbo loans, which are quite rare in the mortgage industry.

Nationwide Qualifications

Loan Qualifications
Second Home
Property Appraisal
Proof of Employment
Primary Residence

Qualifications - 8 / 10

Nationwide is more flexible than other lenders in their loans, allowing financing for both primary and secondary residences. They do have credit requirements, although they're not shown on their website, as well as proof of employment and a property appraisal.

Nationwide Customer Experience

Total Consumer Financial Protection Bureau Complaints
18
Site Features & Technology
Home Equity Calculator
Mobile App
Online Application

Consumer Experience - 7.5 / 10

Nationwide doesn't provide much in the way of educational resources for its customers, although they do have quite a few different calculators on their site, as well as an FAQ (albeit a bit hard to locate). They also offer a mobile app and online application, as well as a phone number of borrowers prefer to contact a representative directly.

Nationwide Reputation

Memberships & Accreditations
Equal Opportunity Lender
Insured by Federal Housing Administration
Federal Home Loan Bank Member
Nationwide Mortgage Licensing System ID
769318
BBB Rating
A+
Number of BBB Positive Reviews
2
Number of BBB Neutral Reviews
3
Number of BBB Negative Reviews
93
Date Collected
2017-08-17

Reputation - 7.5 / 10

Nationwide is generally associated with autos, rather than mortgage refinance, but they do offer a wider variety of banking services than just car insurance. They score consistently high ratings in customer satisfaction, specifically for their good service and attention to detail.

Nationwide Details

Homepage URL
Company Phone
(877) 422-6569
Headquarters Address
One Nationwide Plaza, Columbus, OH, 43215
Mailing Address
1 Nationwide Plaza, Columbus, OH, 43215
Year Founded
1926

Top Rated
Our Partner
9.7 / 10
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Nationwide Home Equity Loans