Make Your Dream Home a Reality

Couple in front of new house holding keysWith 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.

Fixed Rate Mortgages

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

First Mortgage - Fixed Rate ****

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

TermAPR as low as*
10-Year Fixed 3.43% APR
15-Year Fixed 3.43% APR
30-Year Fixed 4.21% APR

30-Year, 5/1 Adjustable Rate Mortgage

This Adjustable Rate Mortgage begins with a rate and then adjusts upward or downward regularly according to an index.**

This loan is attractive because up to 95% financing is available for qualified borrowers, and no PMI (Private Mortgage Insurance) is required. The rate and terms you receive may vary, based on factors such as individual creditworthiness and loan to value.

The loan is available in a 30-year term, with no rate adjustment during the first 5 years. Rates adjust annually after the first 5 years. The maximum annual rate adjustment will be 2%. The maximum rate adjustment over the life of the loan is 6%.

The Origination Fee and other closing costs will be disclosed to you based on your specific loan.

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

5/1 Adjustable Rate Mortgage available in a 30-year term ****

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.

TermAPR as low as*
5/1 Adjustable Rate Mortgage available in a 30-year term, for First Time Home Buyers 3.82% APR

First-Time Homebuyer Program: 30-Year, 5/1 Adjustable Rate Mortgage, with a Low Down Payment

This Adjustable Rate Mortgage allows First-Time Homebuyers, with 2 years of consecutive job history, to purchase a home as a primary residence. This loan is available for purchases only, refinances of mortgages are not eligible. The First-Time Homebuyer Adjustable Rate Mortgage begins with a rate and then adjusts upward or downward regularly according to an index.**

To help first-time home buyers with their first purchase, this loan has our lowest down payment requirement, with up to 97% financing available for qualified borrowers, and no PMI (Private Mortgage Insurance) is required. The rate and terms you receive may vary, based on factors such as individual credit worthiness and loan to value.

The loan is available in a 30-year term, with no rate adjustment during the first 5 years. Rates adjust annually after the first 5 years. The maximum annual rate adjustment will be 2%. The maximum rate adjustment over the life of the loan is 6%. Origination fees and other closing costs will be disclosed to you based on your specific loan.

** 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, with a Low Down Payment ****

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.

TermAPR as low as*
5/1 Adjustable Rate Mortgage available in a 30-year term, for First Time Home Buyers 3.82% APR

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

*Interest Rate: The initial index is determined by Carolinas Telco and the interest rate will be based on 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. All First Mortgage loans require an interior appraisal by a licensed appraiser. The property may be a single family, condominium, townhouse, or up to four apartment units and the maximum number of Investment property loans allowed is two. Primary residences are excluded from this product. The property must be located in North Carolina or South Carolina. 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. * The rates appearing here are accurate as of the effective date: June 14, 2019. All Terms and Conditions are subject to change without notice. Please call your local branch or 800-622-5305 for current rates. The actual rate and terms you receive may vary based on individual creditworthiness and loan to value and may include closing costs, origination fee, etc., that will be disclosed to you based on your specific loan. Real Estate Loans are only available for homes in North Carolina or South Carolina.  Adjustable Rate Mortgage (ARM) Index is determined by the 1-Year Constant Maturity Treasury Yield made available by the Federal Reserve Board. CTFCU-NMLS# 402929