Choose from a wide array of mortgage and home financing solutions. We offer competitive rates for first homes, second homes, income properties, and more.

Rates

The Details
  • Competitively low rates for home purchase, refinance, or construction
  • Available for primary residence, second homes, vacation homes, or investment properties
  • Mortgage terms of up to 30 years
  • A wide range of financing programs available:
    • Fixed rate mortgages
    • Adjustable rate mortgages (ARMs)
    • FHA Loans, Conventional, Rural Development
    • First Time Homebuyer specials
    • Construction Loans
  • Choose from a variety of repayment terms customized to fit your life
  • Helpful loan advisors with strong knowledge of the local real estate market
  • Local, Arkansas decision making and processing
  • Friendly, attentive service from start to finish

Type

Credit History

Max Loan to Value

Loan Limit

Mortgage Insurance

FHA Min 620 credit score. Accepts borrowers 2 years out of bankruptcy and 3 years out of foreclosure 96.50% $294,515 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.
Conventional Min 620 credit score 95% $453,100 *Jumbo loans available Monthly premiums apply until loan amount drops below 80% of home's value.
Construction Min 680 credit score 80% No maxium, but must meet guidelines N/A
Rural Development Min 640 credit score 100% Based on location Must pay guarantee fee of 1.00% upfront, but can finance into loan. Annual mortgage premium approximately 0.35% of loan ammount divided into 12 monthly payments.

The Path to Home Ownership

Greenpath offers Telcoe Members an E-Home Buyers course. The cost is normally $99 but Telcoe Member's get a 50% discount! Email loans@telcoe.com and get your 50% discount code today!

Refinancing

Let one of our loan advisors help you refinance your mortgage to fit your current circumstances.

  • Lower your mortgage payment to fit your current finances
  • Save money with lower interest rates
  • Speed up the process of paying off your home forever
  • Switch from an adjustable-rate to a fixed-rate mortgage

Why would I refinance my home loan?

  • Lower your monthly payments by increasing your term
  • Reduce the total amount of interest you pay for the home with a shorter loan term
  • Eliminate FHA mortgage insurance by refinancing into a conventional loan
  • Use your home’s equity to take cash out

Why would I refinance to take cash out?

  • Consolidate debt to lower your total monthly payments
  • Consolidate debt because the interest rate on your mortgage is likely going to be lower than the rate you're getting on other types of loans
  • Your mortgage interest may be tax-deductible, while your credit card interest is not
  • Make a one-time big purchasethat might otherwise require you to borrow funds at a higher, non tax-deductible interest rate

What does Loan-to-Value mean?

  • Your loan-to-value ratio (LTV) describes what you owe on your mortgage as a percentage of the total current value of your property
  • A lower LTV ratio may get you a better rate and can let us know if you have enough equity to get additional cash
  • A higher LTV ratio means you have less equity in your home, and your refinancing may require Private Mortgage Insurance (PMI), which would increase your monthly payment

What kind of documents will I need to provide?

  • This list is not comprehensive and can grow quickly depending on your personal situation.
  • Current paystubs to include the last 30 days
  • Current bank statements to include 30 days
  • Last 2 years of W-2s
  • Signed copies of your last 2 years of Federal tax returns with all schedules
  • $550 deposit for appraisal
Additional Information

If you're ready to learn all about this process, click the request info button. There, you'll find a simple questionnaire that will help our lenders get a better idea of what you need, and what you want.

Home Purchases:

How much do I need for a down payment?

  • This amount will vary based on your loan type. Down payments for construction loan is minimum 20% of the cost to build plus the cost of the land.

What does my credit score need to be?

  • The minimum score to qualify for a home loan is 680 and requires an excellent credit history. The higher your credit score the more options you have for financing your home.
  • What kind of documents will I need to provide?
  • This list is not comprehensive and can grow quickly depending on your personal situation.
  • Copy of plans, specifications and contract to build
  • Current paystubs to include the last 30 days
  • Current bank statements to include 30 days
  • Last 2 years of W-2s
  • Signed copies of your last 2 years of Federal tax returns with all schedules
  • $550 deposit for appraisal

What is private mortgage insurance (PMI) on a conventional loan?

  • Mortgage insurance protects lenders in case a borrower defaults on a loan. If your down payment is less than 20%, you’ll be required to have mortgage insurance. The cost of PMI will be rolled into your monthly payment.

What are closing costs and who pays them?

  • Closing costs are fees to process and close your loan. Some examples include title insurance, appraisal, recording and credit report fees. You’ll be responsible for closing costs.

What is included in my estimated monthly payment?

  • Your monthly payment will typically include principle, interest, taxes and insurance (if applicable, mortgage insurance)
Additional Coverage

Enjoy greater peace of mind, knowing you and your loved ones are covered.

TruStage Home Insurance

You trust Telcoe Federal to provide services with value. We endorse TruStage products and programs, by CUNA, because for more than 75 years they have provided exceptional value and superior service exclusively to credit unions and their members. 

Learn more about our TruStage Home Insurance.

 

Investments/Insurance/Warranties: Not NCUA Insured • Not Credit Union Issued, Guaranteed or Underwritten • May Lose Value