First Mortgage

Make Your Dream Home a Reality

With a variety of options to choose from, Carolinas Telco Federal Credit Union (CTFCU) is dedicated to helping you make the dream of homeownership a reality. To learn more about applying for a mortgage, call us at 1-800-622-5305, visit your local branch, or apply online.

Couple in front of new house holding keys

Fixed Rate First Mortgages*

Choose between a 10-Year, 15-Year, and 30-Year Fixed Rate Mortgage. This loan maintains the same rate throughout the term of the loan.

  • Up to 95% financing available
  • No PMI (Private Mortgage Insurance) required
  • Competitive rates

Fixed Rate-First Mortgages*

Up to 95% of Purchase Price or Appraised Value, Whichever is Less

TermInterest Rate as low as*APR as low as*Downpayment as low as*PMI
10-Year Fixed 3.63% 3.69% 5% None
15-Year Fixed 3.63% 3.69% 5% None
30-Year Fixed 4.13% 4.21% 5% None

30-Year, 5/1 Adjustable Rate Mortgage*

  • Up to 95% financing available
  • No PMI (Private Mortgage Insurance) Required
  • 30-Year term available, with no rate adjustment for the first 5 years**
  • Competitive Rates

** Index is determined by the 1 Year Constant Maturity Treasury Yield made available by the Federal Reserve Board.

30-Year, 5/1 Adjustable Rate Mortgage*

The loan will begin with a low, constant rate, and then adjust upward or downward regularly according to an index: determined by the 1 Year Constant Maturity Treasury Yield made available by the Federal Reserve Board. Up to 95% financing available for qualified borrowers; No PMI (Private Mortgage Insurance) required; No rate adjustment during the first 5 years; Rate adjusted annually after first 5 years; Maximum annual rate adjustment: 2%; Maximum rate adjustment over the life of the loan: 6%. Index is determined by the 1 Year Constant Maturity Treasury Yield made available by the Federal Reserve Board.

TermInterest Rate as low as*APR as low as*Downpayment as low as*PMI
5/1 Adjustable Rate Mortgage available in a 30-year term 3.75% 3.82% 5% None

First-Time Homebuyer Program: 30-Year, 5/1 Adjustable Rate Mortgage*

  • Up to 97% financing available
  • No PMI (Private Mortgage Insurance) Required
  • 30-year term available, with no rate adjustment for the first 5 years**
  • Maximum loan amount of $200,000
  • Minimum credit score of 600 required
  • Competitive Rates

** Index is determined by the 1 Year Constant Maturity Treasury Yield made available by the Federal Reserve Board.

First-Time Homebuyer Program: 30-Year, 5/1 Adjustable Rate Mortgage*

Allows First‐Time Homebuyers with 2 years of consecutive job history to purchase a new home as a primary residence. The loan will begin with a low, constant rate, and then adjust upward or downward regularly according to an index: determined by the 1 Year Constant Maturity Treasury Yield made available by the Federal Reserve Board. Up to 97% financing available for qualified borrowers; NO PMI (Private Mortgage Insurance) required; No rate adjustment during the first 5 years; Rate adjusted annually after first 5 years; Maximum annual rate adjustment: 2%; Maximum rate adjustment over the life of the loan: 6%. Index is determined by the 1 Year Constant Maturity Treasury Yield made available by the Federal Reserve Board.

TermInterest Rate as low as*APR as low as*Downpayment as low as*PMI
5/1 Adjustable Rate Mortgage available in a 30-year term, for First Time Home Buyers 3.75% 3.82% 3% None

How to Apply for Prequalification:
  • ONLY CTFCU Members can apply online
  • Stop by your local branch
  • Call us toll-free at 1-800-622-5305

Fixed Rate First Mortgage:
This loan allows qualified borrowers to purchase a home as a primary residence. For qualified borrowers, the maximum loan amount will be up to 95% of the sales price or appraisal value, whichever is less. NO PMI (Private Mortgage Insurance) required. Mortgage loans are available in 10, 15, and 30-year terms. *Interest Rate: The interest rate is based on the borrower(s) credit score and is fixed for the life of the loan.
30 Year 5/1 Adjustable Rate:
This loan allows qualified borrowers to purchase a home as a primary residence. For qualified borrowers, the maximum loan amount will be up to 95% of the sales price or appraisal value, whichever is less. NO PMI (Private Mortgage Insurance) required. *Interest Rate: The initial interest rate is based on the borrower’s credit score and loan to value of the subject property. Subsequent rate changes are determined by adding a margin to the index (1-Year Constant Maturity Treasury Yield) made available by the Federal Reserve Board. There will be a 2% annual interest rate adjustment cap and a 6% life interest cap, above the initial note rate.
30 Year 5/1 Adjustable Rate for First-Time Homebuyer:
This loan allows qualified first‐time homebuyers with 2 years of consecutive job history to purchase a home as a primary residence. Maximum loan amount is $200,000 and a minimum credit score of 600 is required. For qualified borrowers, the maximum loan amount will be up to 97% of the sales price or appraisal value, whichever is less. NO PMI (Private Mortgage Insurance) required. *Interest Rate: The initial interest rate is based on the borrower’s credit score and loan to value of the subject property. Subsequent rate changes are determined by adding a margin to the index (1-Year Constant Maturity Treasury Yield) made available by the Federal Reserve Board. There will be a 2% annual interest rate adjustment cap and a 6% life interest cap above the initial note rate.
Investment Property 5/1 ARM:
The property may be a single-family, condominium, townhouse, or up to four apartment units. The maximum number of active investment property loans with CTFCU is limited to only two. Primary residences are excluded from this product. For qualified borrowers, the maximum loan amount will be up to 80% of the sales price or appraisal value, whichever is less. This loan product requires a minimum credit score of 680. *Interest Rate: The initial interest rate is based on the borrower’s credit score and loan to value of the subject property. Subsequent rate changes are determined by adding a margin to the index (1-Year Constant Maturity Treasury Yield) made available by the Federal Reserve Board. There will be a 2% annual interest rate adjustment cap and a 6% life interest cap above the initial note rate.
Applies to all CTFCU Mortgage Products:
The rates appearing here are accurate as of the effective date: December 10, 2019. All terms and conditions are subject to change without notice. All mortgage loans require an interior appraisal by a licensed appraiser. The dwelling may be of conventional construction or a modular home and must be completed and ready for occupancy prior to closing. Construction loans are not available. This loan is not available for manufactured housing. A CONTRACT TO PURCHASE is required for all first mortgage loans unless refinanced. THIS LOAN IS NOT ASSUMABLE. Call 1-800-622-5305. The actual rate and terms you receive may vary based on individual creditworthiness and loan to value determination of the subject property. Real estate Loans are only available for homes in North Carolina or South Carolina and are subject to credit approval. CTFCU-NMLS# 402929

Scroll to Top