Mortgage First*

TELCO contracted with First South Bank to provide our membership with a complete range of mortgage loans. Telco maintains ownership of the loan while First South Bank processes and services the loan.

Home Equity Loans*

 are simply a "line of credit" secured by the equity in your home:

  • Credit Lines – $5,000 minimum, $250,000 maximum

  • Method of Calculating Credit Line – 90.0% loan to value less existing liens or $250,000 whichever is less
  • Variable interest rate
  • Flexible repayment options
*Property for First Mortgage and Home Equity loans must be located in North Carolina

 Conventional Fixed Rate Mortgages are available on 15, 20 and 30 year terms for the purchase or refinancing of owner-occupied primary residences or second homes.

TELCO’s Adjustable Rate Mortgage ( ARM ) loans feature annual and lifetime interest rate caps. Plus an ARM can provide you with more flexible terms, lower initial interest rates, lower monthly payments, which allow you to buy more house for the money.