BancorpSouth's Right@Home Mortgage Program
Helping Make Homeownership Possible

TUPELO, Miss., July 6, 2016 /PRNewswire/ -- BancorpSouth's Right@Home mortgage loan program continues to expand mortgage credit opportunities for many consumers in BancorpSouth's 8-state footprint by lowering or eliminating the up-front costs for qualifying borrowers.

Since the program's introduction in December 2015, the Right@Home program has provided loans to borrowers interested in purchasing a new home or refinancing their existing mortgages. These Right@Home loans now represent a substantial portion of BancorpSouth's total loans to low- to moderate-income (LMI) borrowers purchasing or refinancing a home.

Low-income applicants are those whose gross income is less than or equal to 50% of the Estimated Median Family Income (EMFI) for the area where they reside. A moderate-income applicant is one whose gross income is greater than 50% and less than or equal to 80% of the EMFI. This income level is determined by the U.S. Census.

BancorpSouth's Right@Home mortgage program provides alternative sources for down payment and closing costs, a lower down payment, 100% maximum loan to value, and a fully amortized 30-year fixed rate. With no lender fees, no private mortgage insurance and a minimum contribution of $500, the Right@Home mortgage is a very affordable loan program for qualified homebuyers.

"BancorpSouth is committed to its ongoing consumer outreach efforts and providing access to affordable mortgage products for all consumers in our markets. The Right@Home mortgage features flexible criteria that can help qualified consumers achieve homeownership," said Phil Sandoval, BancorpSouth First Vice President and Community Development Lending Manager.

Homeownership Center Manager for Neighborhood Housing Services of Birmingham, Alabama, Verlene Hornbuckle, added: "In providing counseling, education and information to help prospective homebuyers in qualifying for a home mortgage, we are excited about working with BancorpSouth on their Right@Home mortgage program. Right@Home is an affordable and viable financing option for families to consider."

"BancorpSouth mortgage loan officers are qualified to assist consumers who might not know if they meet the income eligibility criteria, and whether the Right@Home mortgage is a right fit or not," said Scott Dickey, President of BancorpSouth Mortgage. "If the Right@Home mortgage is not a fit, our loan officers will help with other suitable and affordable mortgage programs. We have been very encouraged with the results since the introduction of this mortgage program."

For more information on the Right@Home mortgage program, consumers can visit, or call 888-797-7711 to find the nearest BancorpSouth mortgage lender.

* Right@Home eligibility requirements apply, including homebuyer education and counseling required. See a BancorpSouth loan originator for more information. This is not a commitment to lend. Member FDIC. Equal Housing Lender.

BancorpSouth, Inc. (NYSE: BXS) is a financial holding company headquartered in Tupelo, Mississippi, with approximately $13.9 billion in assets. BancorpSouth Bank, a wholly-owned subsidiary of BancorpSouth, Inc., operates 239 full service branch locations as well as additional mortgage, insurance and loan production offices in Alabama, Arkansas, Florida, Louisiana, Mississippi, Missouri, Tennessee and Texas, including an insurance location in Illinois.  "Like" us on Facebook; follow us on Twitter: @MyBXS; or connect with us through LinkedIn.

SOURCE BancorpSouth, Inc.

For further information: Randy Burchfield, Senior Vice President,, 662-620-4136