BankPlus is a full-service, community-focused bank and direct mortgage lender headquartered in Mississippi, with a strong presence throughout the Southeast. The bank offers a comprehensive range of mortgage products and services, emphasizing local expertise, personalized service, and a commitment to building long-term relationships with customers.
See today’s mortgage interest rates on TrueRate.
How BankPlus compares to other lenders
| Headquarters | Ridgeland, Mississippi |
| Website | bankplus.net |
| Rate | 0.16% less than the median rate |
| Lender fees | $995 (median) |
| Savings after 1 year, compared to the median interest rate | $855 |
| Savings after 10 years, compared to the median interest rate | $5,504 |
| Added cost after 1 year (vs. Tomo Mortgage) | $1,693 |
| Added cost after 10 years (vs. Tomo Mortgage) | $5,680 |
For a $400,000 mortgage, BankPlus’s rates and lender fees result in estimated savings of just over $800 in the first year and about $5,500 over 10 years compared to the median lender. But those savings may not be the ceiling—by rate-shopping, you might find lower-cost lenders like Tomo Mortgage that offer even greater savings, especially if you plan to stay in the home for a while.
What customers are saying
Mortgage-specific reviews for BankPlus from independent third-party sources, including PissedConsumer and Yelp, are mixed to negative. Some borrowers allege issues such as undisclosed property conditions, forged documents, and improper handling of deeds and foreclosure paperwork. Other reviewers report operational frustrations, such as recurring erroneous monthly fees on mortgage-related checking accounts, requiring repeated in-person visits to resolve, and challenges with customer service responsiveness—especially when trying to correct account or payment errors. These issues contribute to a generally low satisfaction rating for BankPlus mortgage services.
How to compare mortgage lenders
Interest rates. Comparing rates between lenders isn’t always straightforward. Many promote low headline rates that require paying “points” upfront to buy down the interest rate. To make a true comparison, focus on the par rate (0 points) and the APR, which reflects both the interest rate and any lender fees. Even small differences can translate into significant savings over the life of the loan.
Lender fees or loan origination fees. Many lenders charge fees that add thousands to the cost of a loan. It’s important to look at both the rate and the fees together to understand the true cost of borrowing. For a $400,000 mortgage, avoiding even a $1,000 fee could contribute to meaningful savings in the first year and over the long term.
On-time close rate. Most lenders do not publicly share their on-time close rates. However, it’s a critical factor—especially if your home contract has tight deadlines. Asking about their process for meeting close dates, including underwriting and document review timelines, can give you more confidence when choosing a lender.
Pre-approval and offer letters. Some lenders offer fast pre-qualifications that may not be fully underwritten, which can weaken your offer in competitive markets. It’s important to ask whether a lender’s pre-approvals are fully underwritten and how credible their letters are when presented with an offer.
Customer satisfaction. If detailed customer review data isn’t readily available, check third-party review sites or ask the lender for references. It’s important to understand how they handle communication, responsiveness, and issue resolution throughout the loan process.
Employee reviews. Company culture often influences how clients are treated. A lender with strong employee satisfaction typically delivers better service, more organized processing, and a smoother overall experience for borrowers.
To better understand how we compare mortgage rates fairly, see our TrueRate Methodology.
If you’re ready to start your journey to homeownership, get pre-approved with Tomo Mortgage today.