First South Offers Advantages with Short-Term Mortgages

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October 30, 2018


NEWS FOR IMMEDIATE RELEASE
Editorial contact:         Delynn Byars, ‎Senior Vice President of Marketing
Phone:                         901-380-7508
E-mail:                         Dbyars@firstsouth.com
 
 
October 15, 2018
 
First South Short-Term Mortgages Offer Advantages to Homeowners

MEMPHIS, Tennessee – First South Financial Credit Union recently announced the best rates in Memphis for short-term fixed-rate mortgage loans, which include a limited time offer for 15-year mortgages with no points, fees or closing costs. First South was also the first Mid-South banking institution to offer 10-year fixed rate mortgages, which have covered these costs since the program began.
    Short-term fixed-rate mortgages are ideal for homeowners who want to eliminate the biggest expense of their retirement budget. For homeowners who plan to pay off their mortgage before they retire, a 10 or 15-year fixed-rate mortgage can save thousands of dollars over long-term mortgages across the life of the loan.
    “Our short-term fixed-rate solutions are perfect for homeowners who have some time left on their current mortgage, but want to take extra steps to pay off their homes early,” said Craig Esrael, President and CEO of First South. “Refinancing with a shorter-term loan can reduce their terms without dramatically increasing their monthly payments — leaving more room to manage other costs over time.” Short-term fixed-rate mortgages are also a sound financial decision for homeowners who are purchasing a second home, downsizing from their current home, or considering a major renovation.
    First South is a leading provider of financial services to Mid-South communities, whose capital position creates competitive rates for customers. Ranked among the strongest banking institutions for financial strength and stability in the U.S., First South has enjoyed an A+ Weiss Rating, over 20 years of Bauer 5-star ratings and the longest history of perfect 300 IDC Financial Publishing scores of all the financial institutions in Tennessee. To learn more about First South’s short-term fixed-rate mortgages, please call 901-380-7530 or email mortgages@firstsouth.com.
About First South Financial
    First South Financial Credit Union is a member-owned, federally insured financial institution serving over 60,000 members. Recognized as a leader in strength, stability and service, First South offers a complete line of banking services ranging from checking and savings accounts to mortgage, auto and personal loans. To learn more, visit www.firstsouth.com
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Contact:
Delynn Byars, Senior Vice President, Marketing
(901) 380-7508

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