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Trustmark National is a regional bank serving five southern states, and its mortgage offerings mostly include traditional conventional and government-backed loans. But this bank does offer a few programs to help low-income borrowers with down payments and closing costs. However, you need to connect with a loan officer before you can apply for a home loan or see any rates.
Loan products offered | Conventional, Jumbo, Refinance, FHA, VA, USDA, HELOC |
---|---|
Minimum credit score | 620 for Conventional |
Minimum down payment | 0% |
State availability | Only available in: AL, FL, MS, TN, TX |
NMLS # | 449605 |
Mortgage requirements vary based on the loan you choose and the area where you’re buying a home. Once you’ve provided your financial information to Trustmark, your loan officer will use that information and your credit score to determine how much you can finance.
You’ll need to have the following information ready before you apply:
Trustmark doesn’t charge an application fee. Once you’ve finished your application, you choose whether you want to take the next step and pay for the appraisal and credit report fees. While this bank doesn’t provide its closing costs up front, they do list the types of fees you can expect to pay as part of the mortgage process.
You can apply for a mortgage online, but you are required to have a Trustmark loan officer first. Once you have your loan officer’s name, you can complete the application by following these steps.
Trustmark offers the following specialty home loan products:
Trustmark offers all the traditional mortgage loans you’d expect to see at a bank this size, plus a few specialty loans to help low-income borrowers and those building their own home. Most of its specialty loans center around its Advantage products, which consist of three loans for borrowers who need financing help.
In addition to the main mortgage loan, which includes a low or no down payment, you can get a small loan to cover closing costs or the True Advantage product, which offers a no-closing-costs loan to help buy appliances or make home improvements.
Trustmark National is not accredited by the Better Business Bureau (BBB), but, as of March 2021, has an A+ rating for resolving nine complaints in the past three years. Online customer reviews are hard to find — even on the BBB, where the bank has only three customer reviews — with an average rating of 2.33 out of 5 stars. Only one of the three reviews is about Trustmark mortgages, and the customer gave 5 stars.
Trustmark National was founded in 1889 as Jackson State National Bank in Jackson, Mississippi. The bank has since expanded its service area to include locations in Alabama, Florida, Tennessee and Texas. Trustmark Corporation has over $13.5 billion in assets across the bank, Trustmark Investment Advisors and Fisher Brown Bottrell Insurance.
Review by
Heather Petty is a writer at Finder specializing in banking, investments and insurance. She's a self-proclaimed word nerd who worked as a technical writer and editor for the casino systems industry and is an internationally published young adult mystery author. Heather earned a bachelor’s degree in English from the University of Nevada, Reno.
Trustmark National Bank is a regional bank with a nice array of mortgage products, including a set of loan options for low-income borrowers who need help with their down payment and closing costs. But while the bank offers an online application, you can’t apply until you’ve connected with a loan officer. And since rates and fees aren’t listed on the website, you have to research costs through your loan officer as well.