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Magnolia Bank, formerly known as Bank of Magnolia, was founded in 1919, and is based in Hodgenville, Kentucky. The bank provides loan services in all 50 states and is one of the top 20 bank originators in the U.S. It’s insured by the FDIC and has a BBB rating of A+, with no complaints filed against it with the CFPB.
- 600 minimum credit score
- FDIC Bank since 1919 with A+ BBB Rating
- Flexible terms up to 30 years
- Low down payment options
- Most loans are closed in 30 days or less
- Online quote without commitment
Latest Magnolia Bank Reviews
I don’t even know where to begin! This company is so shady! If you are first time home buyers and or self employed. I would stay very clear. Also, if you want to close in a timely manner, forget Magnolia all together. They completely steered us in the wrong direction and set us up for failure. Now we have to pick up the pieces and it will take 4 to 5 months to fix! Let me start by dealing with the loan officer David Payne. Nice guy. Fairly easy to talk to, easy going. But you will rarely hear from him. No updates, nothing. When you do hear from him, it is usually blowing smoke. They do not communicate with each other at all! David got all my pre approval paperwork and noticed I had a... Read More