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Home Equity Products
Lines Of Credit
Home Equity Line of Credit
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A home equity line of credit is a revolving line of credit, a lot like a credit card.
A home equity line of credit is a revolving line of credit, a lot like a credit card. Your line of credit has a maximum line amount that replenishes as you repay it, with a variable rate that offers the flexibility of ongoing access to available funds for up to 10 years. You can access funds by writing a check from your Home Equity account or use your Home Equity debit card. For more information check out the Third Federal Equity Guide.
Benefits of a Third Federal Equity Line:
- Lower interest rate. Typically .50 below other lenders
- No closing costs, prepayment penalties or minimum draw requirements
- 10 year draw period, 30 year total repayment period
- Lower monthly payments, amortized up to 30 years
- Historically low rates based on Prime
- Annual fee is waived the first year1
- Borrow up to 70% of the equity in your home
- Make additional payments at any time without penalty
- Easy access to funds with checks and debit cards
All Mortgage Rates 0 Points
| Product |
Rate |
APR |
| Home Equity Line of Credit
|
2.99% |
2.99% |
Third Federal’s Lowest Rate Guarantee
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Third Federal has offered home equity rates that are among the lowest.
Now with our Lowest Rate Guarantee program, if you find a lower home equity line of credit rate, we’ll beat it or pay you $1,000.
Here’s how it works:
- Find a lower rate than ours? We’ll beat it or pay you $1,000
- Simply provide us with the other lender’s advertisement, webpage, email, rate sheet or other documentation of home equity loan rates
- In most cases, you’ll have a rate decision the same day
Click here to view related disclosures
Loans
Home Equity Loan
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Home equity loans are available with fixed or adjustable rates.
Home equity loans are available with fixed or adjustable rates³. Adjustable rates are typically lower than fixed rate loans. Loan funds are disbursed in one lump sum at origination. Additional draws can not be accessed after that.
All Mortgage Rates 0 Points
| Product |
Rate |
APR |
| 10 Year Home Equity Loan
|
3.79% |
3.79% |
| 5/1 Home Equity Loan
|
3.99% |
3.51% |
| 5 Year Home Equity Loan
|
3.49% |
3.49% |
5/1 Adjustable Home Equity Loan
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Offers an interest rate that is typically lower than a fixed rate home equity loan.
The Third Federal 5/1 Adjustable Home Equity Loan offers an interest rate that is typically lower than a fixed rate home equity loan. This lower rate saves the typical customer more than $800 over the first five years. After that, the interest rate adjusts to the Prime Rate minus 1.00% once a year.
Benefits of a Third Federal 5/1 Adjustable Home Equity Loan:
- Low rates; typically .50 lower than other lenders
- Maximum 30-year term, which means you can have a lower monthly payment
- Balanced monthly payments
- No closing costs, prepayment penalties or annual fee
- Borrow up to 70% of the equity in your home
- Make additional payments at any time without penalty
All Mortgage Rates 0 Points
| Product |
Rate |
APR |
| 5/1 Home Equity Loan
|
3.99% |
3.51% |
Fixed Rate (5 or 10-year) Home Equity Loans
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Funds are disbursed in one lump sum and your monthly payment doesn’t change.
With a Third Federal 5 or 10-Year Fixed Home Equity Loan, funds are disbursed in one lump sum and your monthly payment doesn’t change during your term. This takes out the guesswork and gives you a consistent payment throughout the life of your loan.
Benefits of a 5- or 10-Year Fixed-Rate Loan:
- Great fixed rate for life; typically .50 lower than other lenders
- No closing costs, prepayment penalties, or annual fee
- Consistent monthly payments
- Borrow up to 70% of the equity in your home
- Make additional payments at any time without penalty
All Mortgage Rates 0 Points
| Product |
Rate |
APR |
| 10 Year Home Equity Loan
|
3.79% |
3.79% |
| 5 Year Home Equity Loan
|
3.49% |
3.49% |
Third Federal’s Lowest Rate Guarantee
More Info
For more than 80 years, Third Federal has offered home equity rates that are among the lowest.
Now with our Lowest Rate Guarantee program, if you find a lower home equity loan rate, we’ll beat it or pay you $1,000.
Here’s how it works:
- Find a lower rate than ours? We’ll beat it or pay you $1,000
- Simply provide us with the other lender’s advertisement, webpage, email, rate sheet or other documentation of home equity line of credit rates.
- In most cases, you’ll have a rate decision the same day
Click here to view related disclosures
Home Equity Loans available in OH, FL, KY, CA, PA, NJ, VA and NC.
For more important information about our home equity products and terms, or help in selecting which is right for you, call us at 1-800-844-7333.
Click hereClick to view related disclosures to view related disclosures.