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  • First Time Homebuyer
  • Fixed Rate Loans
  • Adjustable Rate Mortgages
  • Construction Loans
  • Land
  • FHA & USDA
  • VA Home Loans

First Time Homebuyer

This program is available to applicant(s) who have never owned a home before or have not owned a home in the past three years. It is a 5/1 Adjustable Rate Mortgage with a maximum term of 30 years. The initial interest rate is fixed for the first five years. The rate may adjust as of the 61st payment, but it cannot change more than 2.00% each year with a lifetime cap of 5.00% over the initial rate*.

Features include:

  • Down Payment as Low as 3%
  • No Private Mortgage Insurance
  • No Income Limit Restrictions

The property must be located in South Carolina or North Carolina.  This program excludes manufactured homes, condos, and townhomes. Qualifying applicant(s) must complete the pre-purchase counseling program through BALANCE™ Financial Counseling Services. Please refer to the First Time Homebuyer Mortgage FAQ for more details. 

 Interest Rate

Annual Percentage Rate (APR)

click to view auto loan rates

 as low as 4.50%

4.77% APR**

These rates were last reviewed and/or updated on 12/08/17.

*Certain restrictions apply. Annual Percentage Rate (APR) and loan approval subject to credit worthiness. Loan type subject to property and borrower qualifications. **This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and credit score of 700 or above. Estimated fees only and subject to change. Rates and terms subject to change. Payment example: On a $100,000 purchase price with 3% down payment, amount financed would be $97,000 for a 30 year term. An initial interest rate of 4.50% would result in a monthly principal and interest payment of $491.48 at 4.77% APR.


    click to apply for first time homebuyer mortgage online  click for mortgage calculator click to view home mortgage disclosure act notice  click to view ehl notice of nondiscrimination compliance    

 



Fixed Rate Loans

A traditional fixed rate loan maintains its original interest rate throughout the life of the loan. Any change in monthly loan payments will be due to increases in other charges like insurance or taxes*. A fixed rate home loan may be a good choice if:

  • You want to increase the loan amount for which you qualify.
  • You prefer the security of a fixed payment.
  • You plan to remain in the home for at least 10 years
  • You do not expect your income to increase significantly in the coming years.
Loan Type Interest Rate Annual Percentage Rate (APR) click to view auto loan rates
15-Year Fixed as low as 3.75% 4.25% APR*1
20-Year Fixed as low as 4.00% 4.39% APR*2
30-Year Fixed as low as 4.00% 4.14% APR*3

These rates were last reviewed and/or updated on 12/08/17.

*Certain restrictions apply. Annual Percentage Rate (APR) and loan approval subject to credit worthiness. Loan type subject to property and borrower qualifications. 1This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and credit score of 700 or above. Payment example: On a $100,000 purchase price with 10% down payment, amount financed would be $90,000 for a 15 year term and an interest rate of 3.75% would result in a monthly principal and interest payment of $654.50 at 4.25% APR. 2This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and credit score of 700 or above. Payment example: On a $100,000 purchase price with 10% down payment, amount financed would be $90,000 for a 20 year term and an interest rate of 4.00% would result in a monthly principal and interest payment of $545.38 at 4.39% APR.3This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and credit score of 740 or above. Payment example: On a $200,000 purchase price with 5% down payment, amount financed would be $190,000 for a 30 year term and an interest rate of 4.00% would result in a monthly principal and interest payment of $907.09 at 4.14% APR.


    click to apply for fixed rate mortgage online  click for mortgage calculator click to view home mortgage disclosure act notice  click to view ehl notice of nondiscrimination compliance    

 



Adjustable Rate Mortgages

Adjustable rate mortgages (ARMs) are loans that offer a lower interest rate and monthly payment for an initial time period. This loan typically out saves the 30-year fixed mortgage within the first 10 years and is ideal for homebuyers who plan to live in their homes 10 years or less. With at least a 10% down payment of the purchase price, qualified homebuyers can avoid paying Private Mortgage Insurance (PMI) fees*.

5/1 ARM - The interest rate will not change for the first 5 years, but is subject to adjustment once per year after the initial introductory period**. The adjusted rate cannot change more than 2.00% each year with a lifetime cap of 5.00% over the initial rate.

 Interest Rate

Annual Percentage Rate (APR)

click to view auto loan rates

 as low as 3.50%

3.78% APR**1

These rates were last reviewed and/or updated on 12/08/17.

*Certain restrictions apply. Annual Percentage Rate (APR) and loan approval subject to credit worthiness. Loan type subject to property and borrower qualifications. **Approved APR will not fall below disclosed floor rate of 3.50% for prescribed mortgage product. Rates and terms subject to change. 1This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and credit score of 700 or above. Payment example: On a $100,000 purchase price with 10% down payment, amount financed would be $90,000 for a 30 year term. An initial interest rate of 3.50% would result in a monthly principal and interest payment of $404.14 at 3.78% APR.


click to apply for mortgage loan online  click for mortgage calculator click to view home mortgage disclosure act notice  click to view ehl notice of nondiscrimination compliance

 



Construction Loans

This type of loan offers a Construction Draw Period, which enables the Credit Union to disburse loan funds during the course of construction based on inspection of the property and the percentage completion of the home. Interest only payments are required during the construction draw period. Upon completion and receipt of final inspection and certificate of occupancy, a second loan will need to be obtained for permanent financing at a fixed rate. At that time, standard mortgage payments will apply based on loan interest rate and term*.

Permanent Financing Available: 30-Year Fixed, 20-Year Fixed and 15-Year Fixed.

Call for 843.443.8521 for loan rate information.


*Certain restrictions apply. Annual Percentage Rate (APR) and loan approval subject to credit worthiness. Loan type subject to property and borrower qualifications.


    click to apply for construction loan online  click for mortgage calculator click to view home mortgage disclosure act notice  click to view ehl notice of nondiscrimination compliance    

 



Land

Terms up to 15 years available for land purchases of residential lots 5 acres or less. Financing available up to 80% loan-to-value for subdivisions and 70% loan-to-value for rural areas*.

 Interest Rate

Annual Percentage Rate (APR)

click to view auto loan rates

 as low as 5.75%

6.35% APR**

These rates were last reviewed and/or updated on 12/08/17.

*Certain restrictions apply. Annual Percentage Rate (APR) and loan approval subject to credit worthiness. Loan type subject to property and borrower qualifications. **This example is based on a purchase transaction with estimated closing costs of $3,100 and credit score of 700 or above. Fees are estimated and subject to change. Rates and terms subject to change. Payment example: On a $100,000 purchase price with 20% down payment, amount financed would be $80,000 for a 15 year term and an interest rate of 5.75% would result in a monthly principal and interest payment of $664.33 at 6.35% APR.


    click to apply for land loan online  click for mortgage calculator click to view home mortgage disclosure act notice  click to view ehl notice of nondiscrimination compliance    

 



FHA & USDA

Carolina Trust finances FHA and USDA loan properties*. Our FHA loans require 3.5% down at closing for purchases and 97.75% LTV for refinances.

USDA Loans are designed for borrower purchases in rural housing areas. USDA loans offer 100% loan-to-value financing with no down payment. USDA purchases are income restricted and property location restricted.

Loan Type Interest Rate Annual Percentage Rate (APR) click to view auto loan rates
FHA as low as 3.88% 4.01% APR*1
USDA as low as 3.50% 3.62% APR*2

These rates were last reviewed and/or updated on 12/08/17.

*Certain restrictions apply. Annual Percentage Rate (APR) and loan approval subject to credit worthiness. Loan type subject to property and borrower qualifications. 1This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and a credit score of 740 or above. Estimated fees only and subject to change. Rates and terms subject to change. Payment example: On a $200,000 purchase price with 3.5% down payment, amount financed would be $193,000 for a 30 year term and an interest rate of 3.88% would result in a monthly principal and interest payment of $908.11 at 4.01% APR. 2This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and a credit score of 740 or above. Estimated fees only and subject to change. Rates and terms subject to change. Payment example: On a $200,000 purchase price with NO down payment, amount financed would be $200,000 for a 30 year term and an interest rate of 3.50% would result in a monthly principal and interest payment of $898.09 at 3.62% APR.  


    click to apply for FHA and USDA loan online  click for mortgage calculator click to view home mortgage disclosure act notice  click to view ehl notice of nondiscrimination compliance    

 



VA Home Loans

VA loans, backed by the federal government, are limited to qualifying U.S. Veterans, service personnel and select military spouses. Receive up to 100% financing when purchasing or refinancing your primary residence. No cash reserves are required after closing*.

Also Available: 30-Year Fixed, 20-Year Fixed and 15-Year Fixed.

 Interest Rate

Annual Percentage Rate (APR)

click to view auto loan rates

 as low as 3.88%

4.00% APR**

These rates were last reviewed and/or updated on 12/08/17.

*Certain restrictions apply. Annual Percentage Rate (APR) and loan approval subject to credit worthiness. Loan type subject to property and borrower qualifications. **This example is based on a purchase transaction of a single family primary residence with estimated closing costs of $3,100 and credit score of 740 or above. Estimated fees only and subject to change. Rates and terms subject to change. Payment example: On a $200,000 purchase price with NO down payment, amount financed would be $200,000 for a 30 year term and an interest rate of 3.88% would result in a monthly principal and interest payment of $940.47 at 4.00% APR.


    click to apply for VA loan online  click for mortgage calculator click to view home mortgage disclosure act notice  click to view ehl notice of nondiscrimination compliance    

 



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