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Mortgage
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Mortgage

Types of Mortgages

BancorpSouth offers you many different types of mortgage products to help you qualify for the best possible loan.

Fixed Rate Mortgage - have interest rates that remain fixed for the life of the loan. Generally, you can have a fixed rate of 10, 15, 20, 25, or 30 years.

ARMs (Adjustable Rate Mortgages) - allow the advantage of being able to get a loan with a lower initial rate that will stay fixed for either 1, 3, or 5 years with a 30 year amortization. Some ARMs will even allow you to lock-in to a fixed rate during the life of the loan.

Balloon Mortgages - are fixed-rate mortgages that are for a set number of years, and then must be paid off in full in a single "balloon" payment. Balloons are popular with borrowers expecting to sell or refinance their property within a definite period of time.

Buy Downs - allow you to prepay the interest on your loan to lower the rate temporarily or permanently.

FHA Loans - are insured by the Federal Housing Authority under their guidelines.

VA Loans - are insured by the Veteran's Administration and are offered to our patriotic service men and women who have been honorably discharged and meet the minimum requirements.

Rural Housing Loans - are offered by the Rural Housing Service of the U.S.D.A. for low-and moderate-income rural residents.

Construction Permanent - allows you to turn your existing bank construction loan into a mortgage upon completion.

First Time Homebuyer's Loans - allows for special financing for first time buyers (meeting certain limitations). Some programs allow down payment and closing cost assistance.

Jumbo Loans - are large non-conforming loans that exceed the limitations set by Fannie Mae.

Refinancing - whether conventional, streamline, or government, we can possibly refinance (replace) your existing loan with a new loan at a lower rate or shorter term.

Ask any one of our knowledgeable loan officers about these, and all of our other mortgage products to find out which loans you qualify for and which loan is right for you.

Regulation E Disclosure

  • Be aware of fraudulent phone calls, text messages and e-mails that may appear to be from your bank. Check the Latest News section to learn more.
Equal Housing LenderMember FDIC
BancorpSouth is a member of FDIC.

Insurance and Investment products are:
Not a Deposit • No Bank Guarantee • Not insured by FDIC or other Government Agency
Not a Condition of any Bank Loan, Product or Service
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MUTUAL FUND FEES AND ADDITIONAL COMPENSATION

Mutual funds are subject to various fees, charges and other expenses, including investment management fees and various distributionrelated fees (including 12b-1 fees), transfer agency fees and other administrative service fees. The current prospectus for the applicable mutual fund contains more detailed information concerning the fund and its objectives, risks, fees and charges. A copy of the current prospectus may be obtained by contacting your Account Administrator.

BancorpSouth Asset Management & Trust receives fees or other compensation ("Fund Compensation") when your account's assets are invested in certain mutual funds, including money market mutual funds. Some Fund Compensation is paid to us from the assets of the funds ("Fund-Paid Compensation") and impacts your investment return. In other instances, Fund Compensation is paid out of the assets of the fund's manager/sponsor ("Manager-Paid Compensation") and does not impact your investment return. Generally, Fund Compensation is paid to us at least quarterly and is based on a percentage of the average daily net assets of your account invested in the fund. The Fund Compensation we receive is in addition to our normal asset-based fees and other fees and the value of your account's assets will be included in calculating our normal asset-based fees and applicable Fund Compensation.

Trading Platform. If you direct the investment of your account, you have access to a wide variety of mutual funds on our BancorpSouth Asset Management Trading Platform. Many of the mutual funds available on the Trading Platform pay us Fund-Paid Compensation for sub-transfer agency and related services, which fees typically range from 0.10% - 0.15% annually. In addition, certain funds available on the Trading Platform pay us Fund-Paid Compensation in the form of 12b-1 fees for various administration and customer servicing relating to the fund's shares held by your account, which fees typically range from 0.00% to 0.25% annually.

Asset Allocation Models. Currently, we receive Fund-Paid Compensation only in the form of sub-transfer agency fees (for services related to buying, selling, and holding fund shares) from some mutual funds (including money market funds) that are used in our Asset Allocation Models. The sub-transfer agency fees we receive range from 0.00% to 0.15%. The amount of Fund Compensation we receive will vary from fund to fund and may not apply in the case of some funds. Our investment process is designed to pick funds for the Asset Allocation Models without regard to whether a fund pays us Fund Compensation and without regard to the amount of such compensation.

Money Market Mutual Funds. Your account's short-term balances are invested in money market mutual funds sponsored/managed by Federated Securities Corp. ("Federated Money Funds") or money market mutual funds sponsored/managed by Goldman Sachs Asset Management, L.P. ("Goldman Money Funds"). As of March 1, 2011, we receive Manager-Paid Compensation from Federated Securities Corp. or its affiliates of up to 0.05% of the average net assets invested in Federated Money Funds and from Goldman Sachs Asset Management or one of its affiliates of up to 0.06% of the average net assets invested in the Goldman Money Funds. The level of Manager-Paid Compensation will vary from time to time.

For additional information, please contact your Account Administrator.