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Fixed Rate
With our Fixed Rate Home Mortgage, your monthly principal and interest payment are fixed for the life of your loan. It makes managing your money simpler because this element of your monthly budget always stays the same.
Third Federal Fixed Rate Mortgage benefits:
- Standard 60-day rate lock.
- 240-day rate lock available.
- Same low fixed rates for condos.
- Get 0.25% off on all Purchase Mortgages – available for a limited time only.
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| Fixed Rates |
Northeast Ohio |
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| | Points | Rates | APR |
| 15 Year | 0 pts | 4.40% | 4.56% |
| 15 Year No Cost | 0 pts | 5.15% | 5.15% |
| 30 Year | 0 pts | 5.00% | 5.09% |
| 30 Year No Cost | 0 pts | 5.75% | 5.75% |
| 30 Year Jumbo | 0 pts | 5.75% | 5.79% |
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Adjustable Rate Mortgage
These loans offer lower rates and lower payments for a full 3 or 5 years. Plus, you have the flexibility to convert to a fixed rate loan – AT NO COST.
Third Federal Adjustable Rate Mortgage benefits:
- Lower monthly payments for 3 or 5 years – A 5 year, $165,000 ARM will save you about $50 to $100 per month compared to our 30-year fixed rate mortgage.
- Lower locked rate for a full 3 or 5 years – usually 1/2% below our 30-year fixed rate mortgage.
- Get 0.25% off on all Purchase Mortgages – available for a limited time only.
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| Adjustable Rates |
Northeast Ohio |
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| | Points | Rates | APR |
| 1 Year | 0 pts | 3.60% | 3.13% |
| 3 Year | 0 pts | 3.74% | 3.25% |
| 5 Year | 0 pts | 4.50% | 3.62% |
| 5 Year Jumbo | 0 pts | 4.75% | 3.82% |
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No-Cost Loans
A mortgage with no costs - no points, no application fee, no appraisal fee, no processing fee, no credit report fee and no lender costs. That’s a savings of about $2,000 right up front for most homebuyers.
Third Federal No-Cost Mortgage benefits:
- No points or credit report fee.
- No application or processing fee.
- No buyer's closing costs or appraisal fees.
- Save around $2,000 upfront.
- Get 0.25% off on all Purchase Mortgages – available for a limited time only.
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| No-cost Rates |
Northeast Ohio |
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| | Points | Rates | APR |
| 15 Year No Cost | 0 pts | 5.15% | 5.15% |
| 30 Year No Cost | 0 pts | 5.75% | 5.75% |
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Bridge Loans
At Third Federal, you can still buy before you sell. Our Bridge Loan allows you to defer payments on your current house - leaving only the payment on your new home. So you don't have to worry about more than one mortgage payment while you're selling your old house.
Third Federal Bridge Loan benefits:
- No Application Fee.
- No payment for up to 12 months, giving you more time to sell your home - most other lenders give you six months or less!
- No prepayment penalty.
- Rate is locked in at time you apply.
- Simple application process.
- Up to 80% loan-to-value.
- Borrow up to $150,000 with ample equity and approved credit.
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| Bridge Loan Rates |
Northeast Ohio |
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| | Points | Rates | APR |
| 1 Year Bridge Loan | | 6.99% | 7.35% |
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