Purists wouldn’t call this full-screen but it’s close enough.
In System Preferences->Keyboard & Mouse->Keyboard Shortcuts
Use the plus sign (+) to create a new shortcut. Use the drop down, labeled Application, to assign our new shortcut to the Terminal.
Menu Title will be “Zoom” no quotes.
Use any keyboard shortcut you’d like, I prefer command+f.
Restart the terminal.
Another keyboard shortcut I use with the Terminal is Select Previous Tab command + left arrow, and Select Next Tab command + right arrow.
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