What is a 2-1 Buydown

What is a 2-1 Buydown?

Reduce mortgage payments for the first two years of the loan with a 2-1 buydown from BankSouth Mortgage! Buying a home is an exciting milestone but can come with additional startup costs. Between things like new furniture, fresh paint, and…

Why is the Fed hiking rates, and does it affect mortgage rates?

The U.S. Federal Reserve has hiked rates a few times this year. You may be wondering, why is the Fed hiking rates, and does it affect mortgage rates? Most likely, we have all recently said or heard, “Can you believe the price of gas and…
Application Checklist

Application Checklist

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The following is a list of the documents that will be requested at the beginning of the loan process. Please be aware that additional documentation may be required dependent on your unique circumstances. For Credit Approval: Most recent…

10 Things You Should Know

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1. Length of Process The length of the process varies for each borrower, depending upon your circumstances. Constant communication with your mortgage banker will help keep you informed of anything that may delay the processing of your application. 2.…

Borrower Tips and Advice

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During the processing of your loan, there are certain things to keep in mind that may affect the outcome of your loan request. Credit, income, and assets are re-verified after you have signed your initial loan application documents, and it is…

Understanding Credit

No one can predict the future. Credit scores are the universally accepted way to best determine how someone will handle their financial commitments. Your personal credit score is a major component in the loan approval process but can sometimes…
BankSouth Mortgage’s Kim Nelson

BankSouth Mortgage’s Kim Nelson Named as one of HousingWire Magazine’s 2022 Women of Influence

ATLANTA, GA – BankSouth Mortgage, which operates 13 offices across the Southeast, announces their CEO Kim Nelson has been named one of HousingWire Magazine’s 2022 Women of Influence. The Women of Influence list recognizes trailblazing…

Fixed-Rate vs. Adjustable-Rate

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What is an ARM, and does it matter? When it is time to get a mortgage, it’s important to compare your options. There are two different types of mortgages, a fixed-rate mortgage and an adjustable-rate mortgage (ARM). A fixed-rate mortgage…

The Mortgage Process

Initial Mortgage Consultation When you begin thinking about buying a home, contact BankSouth Mortgage to get prequalified. A pre-qualification gives you an estimate of the size of mortgage loan you qualify for based on your credit history,…
The Fed, Policy Rates and Inflation – What This Means For Mortgage Interest Rates

The Fed, Policy Rates and Inflation – What This Means For Mortgage Interest Rates

At their most recent meeting, the Federal Reserve moved policy rates up by 0.5%. The Fed’s announcement is the biggest increase to policy rates since 2000 and is an attempt to tame inflation. Because this increase was expected, interest rates…
Mortgage Credit Score

Mortgage Credit Score

Credit scores are used to determine the risk in lending money to a borrower. In other words, how likely it is a borrower will pay bills on time. Credit scores range from 300 to 850 and reveal how well a borrower has paid bills and managed debt…

Unpacking the Mortgage Process: Home Inspections, Appraisals, & Closing

Home inspections, appraisals, and closings, oh my! Aspects of the homebuying process can seem frightening, so knowing what to expect can prepare you for what’s ahead. Here’s a breakdown of three vital parts of the process. Home Inspection …