Home Equity Products

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 80% of the equity in your home
• Make additional payments at any time without penalty
• Easy access to funds with checks and debit cards

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

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.

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 80% of the equity in your home
• Make additional payments at any time without penalty

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 80% of the equity in your home
• Make additional payments at any time without penalty

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