Buying a home is one of the biggest financial decisions you will make. Whether you are a first-time home buyer or refinancing, understanding how mortgages work can be overwhelming.

Here are some of the more frequently asked mortgage questions answered by our Vice President, Mortgage Lender, Eddie Reed.

Frequently Asked Mortgage Questions

What do I need to start the homebuying process?

What do I need to start the homebuying process?

The best step is a conversation with a mortgage loan officer. We’ll walk you through your goals and give you a quick pre-qualification, which is calculating how much you can afford. If you’re ready to move forward and shop for a house, a pre-approval goes deeper and verifies income, assets and credit. It shows sellers you’re serious and fully prepared.

How do I determine the price of my home that I qualify to purchase?

How do I determine the price of my home that I qualify to purchase?

Your purchase power depends on your income, debts, credit, and down payment. During pre qualification, I calculate a range that keeps your monthly payment comfortable with your budget and aligns with your long term plans.

Can I buy a home with less than 20% down?

Can I buy a home with less than 20% down?

Yes! We support the full suite of Mississippi Home Corporation Down Payment Assistance programs, including grants and forgivable second mortgages. If you’re a first time buyer or haven’t owned a home in the last three years, you may qualify for thousands of dollars in assistance.

Pros and Cons of a 15-year loan versus 30-year loan?

Pros and Cons of a 15-year loan versus 30-year loan?

Both have advantages. With a 15-year loan, you will have a higher monthly payment, lower overall interest cost. With a 30-year loan, you will have a lower monthly payment, more flexibility, and easier budgeting. We help customers run the numbers side-by-side so they can choose what fits their financial comfort zone.

What is the difference in a fixed rate and adjustable-rate mortgage? Is one preferred?

What is the difference in a fixed rate and adjustable-rate mortgage? Is one preferred?

Fixed rate mortgages hold the same rate for the life of the loan while adjustable rate mortgages (ARMs) start with a lower rate that can adjust in the future. Most buyers choose fixed rates for predictability and security; however, ARMs can be a smart option depending on your long term plans.

Will checking my credit hurt my score?

Will checking my credit hurt my score?

A mortgage credit check has a very small impact—often just a few points. What matters more is understanding your credit profile early so we can optimize your loan options or address any areas that need improvement.

How does my credit score impact my loan options and interest rate?

How does my credit score impact my loan options and interest rate?

Your credit score influences the programs you qualify for and can affect the interest rate and/or cost of the loan. Better credit generally means better terms, but we also have strong loan programs for buyers with less than perfect credit.

Are there special inspections I should consider (roof, foundation, HVAC, plumbing)?

Are there special inspections I should consider (roof, foundation, HVAC, plumbing)?

We always recommend getting a home inspection from a reputable, qualified inspector. If they find issues with specific areas, they will then recommend a specialist such as a structural engineer, roofing contractor, or plumber.

What happens if the home doesn’t appraise for the purchase price?

What happens if the home doesn’t appraise for the purchase price?

If the appraisal comes in lower than expected, we’ll discuss options such as renegotiating the sales price, filing a reconsideration of value, adjusting the loan structure, or consider appraisal gap strategies. My job is to guide you through the best path forward.

How do property taxes, insurance, and escrow work after closing? Is that included in my loan?

How do property taxes, insurance, and escrow work after closing? Is that included in my loan?

Most homeowners utilize an escrow account, which is includes those items in your monthly payment. It includes your property taxes and homeowners’ insurance, so you don’t have to budget for large lump sum bills.

What are some common mistakes or opportunities that are overlooked by home buyers?

What are some common mistakes or opportunities that are overlooked by home buyers?

A few big ones:

• Not getting pre approved before shopping
• Assuming they need 20% down
• Overlooking down payment assistance programs
• Making big credit impacting purchases before closing
• Not asking questions early in the process

Our role is to make sure none of these become obstacles for you. We offer full-service home mortgage solutions to make the process as seamless as possible for you. For more information contact one of our expert loan officers or visit https://gbt.mymortgage-online.com/ to learn more and apply online.

Educational Disclaimer:
This content is for educational purposes only and does not constitute a loan offer, commitment, or approval. All loan programs, terms, eligibility requirements, and credit standards are subject to change at any time. Loan approval requires a complete application and underwriting review. Down payment assistance programs have limited availability and may include income limits, credit requirements, homebuyer education, and property eligibility criteria. Appraisal values and inspection results cannot be guaranteed. For specific information about your situation, please contact one of our loan officers.

Planning a wedding is one of life’s most exciting milestones. Along with choosing venues, and guest lists, it’s also an important financial moment. With thoughtful planning and the right guidance, couples can celebrate their day while staying confident about what comes next.

February is recognized as National Weddings Month, making it a natural time for couples to think about both the celebration and the financial planning that comes with it.

At Guaranty Bank, we believe your wedding is more than a single event. It’s part of a larger financial journey. Our role is to help you make informed decisions, plan with confidence, and feel supported through every major life moment.

Start With a Clear Conversation

Before diving into the details, take time to talk openly about expectations and priorities. Discuss what matters most to each of you, what you are comfortable spending, and how your wedding fits into your broader financial goals.

Having these conversations early can help reduce stress and create a plan that reflects both your values and your future together.

Build a Realistic Wedding Budget

A wedding budget provides structure and clarity throughout the planing process. Start by outlining major expenses such as the venue, catering, attire, photography, then allow room for smaller costs that can add up over time.

Breaking your budget into categories can help you make confident decisions and adjust as plans evolve.

Save With Purpose

Setting aside funds specifically for wedding expenses can make planning feel more manageable. Consistent contributions, even in smaller amounts, can add up over time and help reduce the need to rely on credit.

Having the right savings approach in place can help you stay organized and track progress as your plans come together.

Plan Beyond the Wedding Day

While the wedding is an important milestone, it’s only the beginning. Many couples are also thinking about what comes next, such as building an emergency fund, planning a honeymoon, or saving toward a future home.

Considering these goals alongside your wedding plans can help create balance and support long term financial confidence after the celebration ends.

Here for Every Life Moment

At Guaranty Bank, we’re here for more than transactions—we’re here for the milestones. From planning a wedding to building a life together, our local teams are ready to offer guidance, tools, and support tailored to your needs.

Your life will be filled with meaningful moments. We’re proud to be the trusted financial advisor you can rely on through each one, today and in the years ahead.

Hue Townsend, President and CEO of Guaranty Bank, announced today that nine team members have been promoted within the organization. These promotions reflect Guaranty Bank’s continued commitment to developing talent from within and recognizing individuals who demonstrate strong performance, leadership, and dedication to serving their communities.

The following promotions have been approved:

• Robin Andrews – Assistant Vice President, Branch Manager, Vicksburg
• Caleb Andrews – Banking Officer, Relationship Banker, Fulton
• Mildred Carter – Banking Officer, Branch Manager, Greenville Highway 1
• Karrie Doty – Banking Officer, Branch Manager, Fulton
• Becky Faulkner – Banking Officer, Branch Manager, Corinth
• Kim Hayes – Banking Officer, Branch Manager, Greenwood
• Amanda Lehman – Banking Officer, Branch Manager, Hernando
• Will Midlick – Banking Officer, Relationship Banker, East Memphis
• Nicole Salazar – Banking Officer, Branch Manager, Belzoni

Each of these individuals brings a strong connection to their local market, a commitment to customer service, and a passion for community involvement. Their leadership and dedication continue to strengthen Guaranty Bank’s ability to serve customers across Mississippi and Tennessee.

“It’s always a special honor to recognize and promote talent from within our organization,” said Hue Townsend, President and CEO of Guaranty Bank. “These individuals have earned this recognition through hard work, integrity, and a genuine commitment to their customers and communities. We are proud of their growth and excited about the leadership they bring to Guaranty Bank.”

Guaranty Bank congratulates each of these team members and looks forward to their continued success in their expanded roles.

About Guaranty Bank & Trust:

Guaranty Bank’s mission is to set the standard in our communities for excellence in financial service products and their delivery, to strengthen the communities we serve, and to help improve the quality of life in those areas; while creating last value for our shareholders, employees, and customers.  Learn more at Personal & Business Banking Services | Guaranty Bank

Hue Townsend, CEO of Guaranty Bank, is pleased to announce that the Board of Directors has approved the promotion of Shelly Capps to Vice President, Mortgage Operation Manager based in Hernando.

Shelly is a U.S. Army veteran, having served as a Finance and Accounting Specialist from 1998 to 2003. She has more than 20 years of experience in the mortgage industry, beginning her career in 2004 as a loan processor. She was promoted to Operations Manager in 2010 and has been a key leader within Guaranty Bank’s Mortgage Division since 2017.

Throughout her career, Shelly has been recognized for her operational expertise, strong leadership, and ability to guide teams through growth and change. She has played a critical role in the redesign and strengthening of Guaranty Bank’s mortgage operations, helping support record growth in recent years while ensuring a consistent, high-quality experience for customers and loan officers alike.

Beyond her professional accomplishments, Shelly is deeply committed to serving her community. She volunteers regularly, with a special passion for animal-related organizations, and fosters both dogs and cats. She also serves as Fundraising Chair for Pals of Paws Society, a local nonprofit organization in northwest Mississippi.

“We are thrilled to promote Shelly Capps to Vice President,” said David Umstead, President of Mortgage Division. “She has been instrumental in the redesign of our mortgage division that has had record growth over the past few years. Our loan officers have complete confidence in the operations team she leads; this promotion is well-deserved.”

About Guaranty Bank & Trust:

Guaranty Bank’s mission is to set the standard in our communities for excellence in financial service products and their delivery, to strengthen the communities we serve, and to help improve the quality of life in those areas; while creating last value for our shareholders, employees, and customers.  Learn more at Personal & Business Banking Services | Guaranty Bank

BELZONI, MS – Hue Townsend, CEO of Guaranty Bank, is pleased to announce that the Board of Directors has approved the promotion of Lynn James to Senior Vice President, Operations Manager, based in Belzoni.

A Belzoni native, Lynn, is a graduate of the University of Mississippi, where she earned her degree with honors. She has nearly 20 years of operations experience and continues to invest in her professional growth as she is currently enrolled in the Mississippi Bankers Association Foundations of Leadership training.

Throughout her career, Lynn has been recognized for her deep operational knowledge, steady leadership, and unwavering commitment to excellence.  Her thoughtful approach, attention to detail, and ability to lead with both confidence and care have played a critical role in strengthening Guaranty Banks’s operational foundation.

Beyond the bank, Lynn is actively involved in her community.  She is a member of the First Presbyterian Church of Belzoni, where she volunteers as a Sunday School teacher. In her spare time, she enjoys reading and lifelong learning.

“Working alongside Lynn James has been a privilege,” said Pam Jones, EVP, Chief Operations Officer at Guaranty Bank.  “Her faith, dedication, vision, and leadership have been instrumental in the success of Guaranty Bank’s Operations.  This promotion not only reflects her remarkable talent, but the passion and perseverance that inspire those around Lynn.  She has a wealth of knowledge and is a positive and encouraging driving force that continues to shape Guaranty Bank’s vision and mission every day.  This promotion is proof that dedication and heart can turn ambition into achievement.”

About Guaranty Bank & Trust:

Guaranty Bank’s mission is to set the standard in our communities for excellence in financial service products and their delivery, to strengthen the communities we serve, and to help improve the quality of life in those areas; while creating last value for our shareholders, employees, and customers.  Learn more at Personal & Business Banking Services | Guaranty Bank

BELZONI, MS – Hue Townsend, CEO of Guaranty Bank, is pleased to announce that the Board of Directors has approved the promotion of Brandy Tominello to Senior Vice President, Retail Credit Manager.

A native of Hollandale, Brandy has more than 26 years of dedicated service to Guaranty Bank. She is a graduate of Deer School, attended Mississippi Delta Community College, and completed the Mississippi School of Banking at the University of Mississippi. She has also completed the American Bankers Association’s Lending Compliance School, further strengthening her expertise in credit and regulatory compliance.

Throughout her career, Brandy has demonstrated strong leadership and a deep commitment to both bank and the communities it serves. She has led numerous training initiatives focused on guiding individuals and families on the path to homeownership and has played a key role in advancing retail loan growth across the organization.

In her role as Senior Vice President, Retail Credit Manager, Brandy will continue to provide strategic leadership with a focus on sound credit administration, fair lending compliance, and exceptional customer service. Brandy and her husband, Dominic, reside in Greenville and have four children.

“Brandy’s commitment to Guaranty Bank, sound judgment, and deep understanding of credit risk make her an invaluable leader,” said Keith Mitchell, EVP and Chief Banking Officer. “She consistently builds trusted relationships across the organization and with our customers. This promotion is well deserved, and I am confident she will continue to grow and make a meaningful impact in this role.”

About Guaranty Bank:

Guaranty Bank’s mission is to set the standard in our communities for excellence in financial service products and their delivery, to strengthen the communities we serve, and to help improve the quality of life in those areas; while creating last value for our shareholders, employees, and customers.  Learn more at Personal & Business Banking Services | Guaranty Bank

BELZONI, MS – Hue Townsend, CEO of Guaranty Bank, is pleased to announce that the Board of Directors has approved the promotion of Doug Capps to Vice President, Mortgage Loan Officer serving the Hernando market.

Originally from Columbus, Mississippi, has been a valued member of the Guaranty Bank mortgage team since 2017.  Throughout his tenure, Doug has built a strong reputation for consistent performance, trusted client relationships, and a commitment to delivering an exceptional mortgage experience.

Doug is actively involved in the local community and professional networks, including BNI MidSouth Partners and as an Affiliate Member of the North Mississippi Association of Realtors. His engagement and relationship-driven approach have played an important role in supporting customers and strengthening Guaranty Bank’s presence in the market.

Doug and his wife, Shelly Capps, who was also recently promoted to Vice President, Mortgage Operations Manager, have worked together in the mortgage industry since 2004. Their combined experience and shared dedication reflect Guaranty Bank’s commitment to collaboration, excellence, and service. Outside of work, Doug enjoys traveling, especially to destinations known for sun and sand.

“Through consistent performance, strong client relationships, and setting the standard for excellence in our organization, Doug has earned this promotion to Vice President,” said Eddie Reed, Vice President and Regional Mortgage Sales Leader at Guaranty Bank.  “I’m confident he will continue to deliver exceptional results for both our clients and our team.”

About Guaranty Bank & Trust:

Guaranty Bank’s mission is to set the standard in our communities for excellence in financial service products and their delivery, to strengthen the communities we serve, and to help improve the quality of life in those areas; while creating last value for our shareholders, employees, and customers.  Learn more at Personal & Business Banking Services | Guaranty Bank

Banking online offers everyday convenience, from checking balances to paying bills on the go. Staying secure is just as important. Safer Internet Day is a reminder that protecting your finances is a shared effort between you and your bank.

At Guaranty Bank, your security is a top priority. We combine trusted technology, ongoing monitoring, and personal service to help protect your information while also giving you tools and guidance to stay informed.

How We Protect Your Accounts

Guaranty Bank offers built in security features through online and mobile banking to help you stay aware of your account activity, including:

• Account alerts that notify you of activity in real time
• Card controls that allow you to turn your debit card on or off at any time
• Travel alerts that let you notify us when you are traveling to help avoid transaction disruptions
• Ongoing monitoring designed to help identify unusual transactions
• Secure online and mobile banking platforms

These tools are designed to give you visibility, flexibility, and peace of mind if something doesn’t look right.

Understanding Legitimate Bank Calls

Knowing how your bank communicates with you is one of the most effective ways to avoid fraud.

If Guaranty Bank calls you first:

• We will not ask for sensitive personal information such as full account numbers, online banking passwords, or one time passcodes.
• We already know who we are calling and are reaching out to help protect your account or confirm activity.

If you call Guaranty Bank first:

• We will follow verification procedures to ensure we are speaking with the correct person.
• This step protects your information and helps prevent unauthorized access.

Understanding the difference can help you recognize legitimate communication and avoid imposters.

Watch for Common Scam Tactics

Scammers often create urgency by asking you to act quickly or share information. Be cautious of unexpected calls, texts, or emails requesting personal or financial details, even if they appear to come from a trusted source.

If something doesn’t feel right, trust your instincts and contact us directly using a verified phone number.

Stay Proactive

Simple habits can add an extra layer of protection, including reviewing transactions regularly, enabling account alerts, using card controls when needed, and keeping your devices up to date.

Your peace of mind matters. This Safer Internet Day and every day, Guaranty Bank is here to help you bank confidently and securely with the support of a trusted local team.

Taking care of your finances is one of the most practical ways to care for your future. Financial confidence isn’t about getting everything right all at once; it’s built over time through simple habits that create stability, flexibility, and peace of mind.

Here are a few everyday habits that can help you feel more confident about where you are and where you are headed.

Build a Safety Net

An emergency savings fund helps prepare you for the unexpected, whether it’s a car repair, medical expense, or temporary change in income. Even small, consistent contributions can add up over time and help reduce financial stress when surprises arise.

Having the right savings account at Guaranty Bank makes it easier to build this habit and keep your funds accessible when you need them.

Make It Automatic

Automating savings and bill payments can remove the pressure of remembering every detail. When your finances work quietly in the background, it becomes easier to stay on track, even during busy seasons of life.

Guaranty Bank online and mobile banking tools can help you manage accounts, monitor balances, and keep your plan moving forward with less effort.

Set Goals That Fit Your Life

Financial goals look different for everyone. You may be planning for a home, a vacation, or simply more breathing room month to month. Clear goals give direction to everyday decisions and help turn long term plans into manageable steps.

Breaking larger goals into smaller milestones can make progress feel more achievable and motivating.

Check In and Adjust

Life changes, and your financial plan should be able to change with it. Regular check ins help ensure your accounts, savings, and goals still align with your priorities.

Reviewing your finances from time to time can uncover opportunities to adjust, simplify, or strengthen your approach as your needs evolve.

A Trusted Partner Along the Way

At Guaranty Bank, we believe financial confidence grows when you have both the right tools and the right people supporting you. Our products and services are designed to meet you where you are, and our local teams are here to offer guidance, answer questions, and help you plan with confidence.

You don’t have to navigate your financial journey alone. We’re here to help you build habits that support today and the future you’re working towards.

Resource Library

Personal Savings Accounts | Guaranty Bank

Mobile Banking | Guaranty Bank

Guaranty Bank Location Near You

This January, Guaranty Bank is partnering with Coats4Kidz in Batesville to help provide warmth to children and families during the winter season. Throughout the month, we will be collecting new and gently used coats at participating Guaranty Bank branches to support neighbors across our communities.

Winter can be especially challenging for families in need, and access to warm outerwear can make a meaningful difference. By donating a coat, you’re helping ensure someone stays warm, comfortable, and cared for during the coldest months of the year.

All donated coats will be distributed through Coats4Kidz, a local organization dedicated to providing winter clothing to children and families throughout the Batesville area and surrounding communities. This partnership allows us to keep donations local and impact those who need it most.

Coat donations will be accepted January 1^st through January 31^st, with clearly marked collection areas available inside participating Guaranty Bank branches. New or gently used coats of all sizes are welcome.

Participating branches include:

• Oxford Jackson
• Oxford University
• Senatobia
• Batesville East
• Batesville West
• Greenwood
• Saltillo
• Fulton Main

At Guaranty Bank, supporting our communities goes beyond banking. We’re proud to partner with organizations like Coats4Kidz and thankful for every customer and community member who helps us turn small acts of generosity into real impact this winter.