First Mortgage

Fixed Rate First Mortgage:
This loan allows qualified borrowers to purchase a home as a primary residence. For qualified borrowers, the maximum loan amount for purchases will be up to 95% of the sales price or appraisal value, whichever is less. The maximum allowable loan amount for “cash-out” refinancing will be up to 85% of the home’s appraised value. NO PMI (Private Mortgage Insurance) required. Mortgage loans are available in 10-year, 15-year, 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 for purchases will be up to 95% of the sales price or appraisal value, whichever is less. The maximum allowable loan amount for “cash-out” refinancing will be up to 85% of the home’s appraised value.  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. 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:
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 640. NO PMI (Private Mortgage Insurance) required. Mortgage loans are available in 10-year, 15-year, 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.
Applies to all CTFCU Mortgage Products:
The rates appearing here are accurate as of the effective date: April 16, 2025. 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

If you have any questions or wish to request a Rate and Fee Sheet with terms and additional information, please call the Credit Union at 1-704-391-5600 or 1-800-622-5305. Rates are subject to change without notice. Fees may reduce the earnings on some accounts. All services, including deposit accounts and loans, are subject to approval.