Can I opt out of Payday Your Way?

Great question! We’ll work to make your funds available to spend the same day we receive a deposit notice from your employer or other payers – up to two days earlier than your scheduled payday.¹

Absolutely not! Payday Your Way comes free with your Gate City Bank checking account.

This largely depends on when we receive a deposit notice from your employer or other payers. As soon as we receive that notification (except on Sundays or federal holidays), we’ll make the funds available to you!

If you have questions, please contact us and a team member will be happy to help you!

Here are a few important things to know about home appraisals:

• The appraisal inspection is a step within the overall appraisal process. Much of the process happens offsite and includes research of the home, neighborhood, real estate market, construction costs and comparable property values.
• Appraisers act independently from the mortgage lender. Appraisers would not have access to previous appraisals or mortgage details, nor would they be privy to any current home loan or application provided to your lender.
• Market value, tax-assessed value, construction cost and replacement cost can each be different values for the same home.
  • Market value: The most probable price your home would sell for in a competitive and open market.
  • Tax-Assessed Value: The value assigned to your home to measure appropriate taxes. This is typically performed as a mass appraisal based on limited information such as only the exteriors of homes, generalized neighborhood data and an overall index.
  • Construction Cost: All costs paid to construct and complete the build or renovation of your home.
  • Replacement Cost: The cost to rebuild your home if it’s damaged or destroyed. This value is typically used for insurance purposes.

Our mortgage lending team members are available to answer any questions you have on the appraisal or general homebuying process. We look forward to working with you and providing guidance.