Home Loans
Your dream home is within reach! Affordable home loans with competitive rates, low closing costs, and flexible terms.
What Are You Looking For?
Benefits of Telcoe Federal Credit Union Home Loan Products
Mortgage Loans
Take advantage of competitive interest rates, flexible loan terms, and a range of loan options when you choose Telcoe for your home loan in Arkansas.
- Available for first homes, second homes, income properties, and more
- Flexible mortgage terms of up to 30 years
- Local loan advisors and local loan servicing
- Low closing costs
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Home Equity Loan
If your home has increased in value or you've paid down a significant chunk of your home loan, you probably have equity sitting in your home waiting to be put to work.
- Terms from 1 to 15 years to suit your goals
- Low closing costs because we're a not-for-profit organization
- Monthly payment is fixed over the term of the loan, so budgeting is easy
- The interest on your loan may be tax deductible1 if used for improvements
- No prepayment penalties
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Construction Loans
Build your dream home with up to 80% financing and no maximum loan amount. Get your plans ready, and we'll make payments at key stages of your journey.
- Up to 80% financing is available with a down payment of 20% or more
- No maximum loan limit when you meet construction loan guidelines
- Terms from 6 months to 1 year to complete your build
- Permanent financing available
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FHA Title 1 Home Improvement Loans
Borrow up to $25,000 with no equity needed when you use the funds to beautify and upgrade your home. Choose a term of up to 180 months.
- Competitive Rates
- Funds as quickly as next day $7500 loan amount or less
- Funds as quickly as 3 weeks for funds up to $25000
- Primary residence only
- Interest may be tax deductible(check with your Tax Specialist)
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First-Time Home Buyer Guide
Check out our video, which can help guide you through the home-buying process and answer many questions. Want to schedule a meeting with a Telcoe Home Buying Specialist? Contact us, and we can set a virtual or in-person appointment.
Financing Comparison
| FHA | Conventional | Construction | Rural Development | |
|---|---|---|---|---|
| Credit History | Min 620 credit score1 | Min 640 credit score | Min 680 credit score | Min 660 credit score |
| Max Loan to Value | 96.50% | 95% | 80% | 100% |
| Loan Limit | $420,680 | $647,2002 | No maximum3 | Based on location |
| Mortgage Insurance | 4 | 5 | N/A | 6 |
2 Jumbo loans available.
3 Must meet construction loan guidelines
4 Must pay 1.75% of loan as insurance premium upfront, but can finance into loan. Annual mortgage premium approximately 0.85% of loan amount, divided equally into 12 monthly payments.
5 Monthly premiums apply until loan amount drops below 80% of home's value.
6 Must pay guarantee fee of 1.00% upfront, but can finance into loan. Annual mortgage premium approximately 0.35% of loan amount divided into 12 monthly payments.