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Purchase the home of your dreams.

At Carolina Trust, we understand purchasing a new home can be intimidating. Our Mortgage team walks borrowers through the entire home loan process. We will be with you every step of the way, from your first meeting at a Carolina Trust branch to your loan closing at the attorney’s office.

Not ready to apply?

Use the form below to inquire about what you are looking for and one of our mortgage specialists will be in touch with you.


Fixed Rate Mortgages

Don’t worry about your rate changing! With a Fixed Rate Mortgage, your rate will stay the same for the life of the loan.

    • Competitive rates*
    • 15, 20, or 30-year terms
    • FHA, VA, USDA options
    • Fast online application process
    • Stability of a fixed payment
    • Ideal for buyers planning on living in the home for 10 years or more

Apply Now

Adjustable Rate Mortgages

Get a lower introductory interest rate for the first 5 years of your loan. Then, after the introductory period, the rate would adjust to the current market rate at the 61st payment. The adjusted rate would not increase or decrease more than 2.00% each year with a 5.00% lifetime cap.

    • 5/1 ARM loan available
    • Competitive rates*
    • 5.00% lifetime cap over the initial rate**
    • Avoid Private Mortgage Insurance with a 5% down payment
    • Ideal for buyers who plan on living in the home for less than 10 years

*Loan approval and Annual Percentage Rate subject to credit worthiness. Loan type subject to property and borrower qualifications. Other restrictions apply.
**Approved APR will not fall below disclosed floor rate of 2.99% for prescribed mortgage product.

Apply Now

First Time Homebuyers

Buying your first home is a big deal. Carolina Trust helps make the process of financing your first home purchase totally achievable.

louise herring philosophy in action member service award

The Louise Herring Philosophy in Action Award is given to credit unions that practically apply the philosophy of People Helping People within their day-to-day operations and service to members.

  • Competitive rates
  • Maximum 30-year term
  • 100% Financing
  • No down payment
  • No private mortgage insurance
  • No income limit restrictions
  • Must complete Balance Track counseling programs before closing

Here’s how it works:

If you’ve never owned a home or haven’t owned one in the last 3 years, you’re eligible for our First Time Home Buyers loan. This loan is a 5/1 Adjustable Rate Mortgage with a maximum term of 30 years. The first 5 years of your loan are financed at a fixed rate. Then, on the 61st payment, your initial fixed rate may adjust based on market conditions but would not increase or decrease more than 2.00% each year with a lifetime rate cap of 5% over the initial rate.*

Review our First Time Homebuyers FAQ for more information.

*Loan approval and Annual Percentage Rate subject to credit worthiness. Loan type subject to property and borrower qualifications. Other restrictions apply.

Apply Now

Balance Track Counseling Programs

Before closing, borrowers must complete Balance Track Counseling programs through Balance™ Financial Fitness.

Courses include:

Financial Basics: Credit Matters
Learn how to borrow wisely from the beginning and avoid making expensive financial mistakes.

Financial Basics: Money Management
Learn about the core concepts of money management and developing a well-thought out plan.

Homeownership: The Road to Homeownership
Learn about what it means to become a successful homeowner through commitment and planning.

To enroll in the Balance Track program, click here.

First-Time Home Buyer FAQ

A first-time homebuyer is an individual or couple who has had no ownership in a primary residence or has not been listed on a Deed in the past 3 years.

The First Time Homebuyer mortgage is a 5/1 Adjustable Rate Mortgage (ARM) with a maximum 30-year term.

The initial interest rate is fixed for the first 5 years. The initial fixed interest rate will change to an adjustable interest rate as of the 61st payment. Thereafter, the rate cannot go up or down more than 2% each year with Lifetime rate cap of 5% over the initial rate.

Most First-Time Home Buyers only stay in their home a maximum of 5 to 7 years. The ARM interest rate is usually lower than a 30-year fixed interest rate, along with no Private Mortgage Insurance. This results in a lower mortgage payment with more being applied to the principal balance when adjusting to home ownership and growing equity in the home.

Example Only: The initial rate is 3.750%* for first 5 years. Thereafter, the rate can’t go up or down more than 2% each year until the loan is paid in full. With a lifetime rate cap of 5%, the interest rate will never be more than 8.750%.

*Loan approval and approved Annual Percentage Rate are subject to credit worthiness. Membership not required to apply for loan but required prior to funding.  Certain restrictions apply. Rates and terms subject to change. Equal Housing Lender. See Credit Union for details.

• The maximum loan amount is $453,100.00
• The maximum loan to value is 100% (Loan to value = loan amount divided by sales price)

No down payment required. 100% finance of purchase contract.

Parameters include:
• Property must be their Primary Residence
• Purchases only
• Property must be a single-family home, condominium, or townhouse.
• Manufactured Homes are excluded from this program.

No. PMI will not be added to the monthly payment. Therefore, more of your mortgage payment is being applied to the principal balance. Thus, you are growing equity in the home.

The Member(s) must be employed (full-time and/or part-time) in the same line of employment for at least 2 years.

Credit score must be 640 or above. Member must be current on all existing obligations.

Yes. The Member(s) must complete the pre-purchase counseling program through BALANCE Financial Counseling Service. There are no fees to the member for these classes.
There are 3 classes they must complete:
• Balance Track: Credit Matters
• Balance Track: Money Management
• Balance Track: The Road to Homeownership

• Commitment Fee: $895.00
• Appraisal Fee: $400.00
• Wire Transfer Fee: $15.00
• Flood Certification Fee: $17.00
• Credit Report Fee: $36.00
• Documentation Fee: $60.00
• Recording Charge: $58.00 +/-
• Attorney Fees: TBD (Members select their own attorney, Attorneys set their own fees)

Yes, closing costs can be paid by the Seller or the funds can be a gift from a family member.

Yes. CTFCU requires escrow for taxes and insurance.

Yes, all loan payments must be repaid by automatic draft from a CTFCU checking account.

The home must be in marketable condition with “no needed repairs”. All property defects and repairs must be corrected prior to closing.

No, with existing membership in CTFCU the property can only be located in South Carolina or North Carolina.

Construction Loans

Build the home of your dreams with a Construction Loan. This type of loan has a Construction Draw Period, which lets you disburse funds when you need them for the different phases of construction. Then, upon completion, you can obtain permanent financing at a low, fixed rate*.

    • 5/1 ARM and 15-, 20-, or 30- year fixed loans available
    • Interest only payments during Construction Draw Period

*Loan approval and Annual Percentage Rate subject to credit worthiness. Loan type subject to property and borrower qualifications. Other restrictions apply.

Land Loans

Have the perfect place in mind for your new home? We’re here to help you purchase that land with a competitive rate and low fees*.

    • Terms up to 15 years available
    • Residential lots 5 acres or less
    • Up to 80% financing available for subdivisions and 70% for rural areas

*Loan approval and Annual Percentage Rate subject to credit worthiness. Loan type subject to property and borrower qualifications. Other restrictions apply.

Apply Now

Meet the Mortgage Team

Mortgage Lending Team Image

(left to right: Kelly Rowland, Mortgage Loan Officer; Howard Smith, Mortgage Loan Officer; Connie Thompson, AVP of Mortgage Loan Services)

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