Mortgage purchase with third federal

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Mortgage Purchase
A rate promise made
is a rate promise kept.
Mortgage Purchase Rates for March 28, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (30 year) 2.89% 2.54%
5/1 ARM (30 year) Low Cost 3.24% 2.60%
5/1 ARM (15 year) 2.79% 2.69%
5/1 ARM (15 year) Low Cost 3.14% 2.79%
Product Rate APR
1 year Bridge Loan 2.99% 3.70%
Product Rate APR
5/1 ARM (30 year) 2.89% 2.49%
5/1 ARM (15 year) 2.79% 2.60%
3/1 ARM (30 year) 2.84% 2.39%
3/1 ARM (15 year) 2.74% 2.47%
5/1 ARM (10 year) 2.69% 2.64%
15 Year Fixed Rate 3.39% 3.43%
30 Year Fixed Rate 3.64% 3.66%
Need Help Finding Your Solution?

Mortgage Lending with Third Federal

We offer several advantages when getting either a fixed or adjustable rate mortagage. Only Third Federal locks your rate at preapproval, before you get a mortgage loan or even find a new home, protecting you from rising rates. And if rates happen to drop even lower while you're looking for a house, you get the lower rate just by asking.  

No PMI with as little as 5% down!

Most lenders require you, the borrower, to pay Private Mortgage Insurance (PMI) if you do not put at least 20% down when purchasing a home. And even though you are the one paying the high insurance premium, the policy doesn't protect you. It protects the lender if you default (don't pay your mortgage.)

Third Federal is not like most lenders. We don't believe you should spend money every month on something that usually isn't necessary. That's why we don't require PMI on most loans with as little as 5% down. This will save you thousands over the life of the loan!

Purchase Mortgage Rates

 
Mortgage Purchase Rates for March 28, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (30 year) 2.89% 2.54%
5/1 ARM (30 year) Low Cost 3.24% 2.60%
5/1 ARM (15 year) 2.79% 2.69%
5/1 ARM (15 year) Low Cost 3.14% 2.79%
Product Rate APR
1 year Bridge Loan 2.99% 3.70%
Product Rate APR
5/1 ARM (30 year) 2.89% 2.49%
5/1 ARM (15 year) 2.79% 2.60%
3/1 ARM (30 year) 2.84% 2.39%
3/1 ARM (15 year) 2.74% 2.47%
5/1 ARM (10 year) 2.69% 2.64%
15 Year Fixed Rate 3.39% 3.43%
30 Year Fixed Rate 3.64% 3.66%

Third Federal Advantage

You shouldn’t feel rushed to the find perfect home. That’s why we lock down your rate at preapproval, before you sign a purchase contract or even find a new home! No other lender can offer a rate lock so early in the home buying process, protecting you from rising rates.

For more than 80 years, Third Federal has been a leading mortgage lender. Our mortgage rates are among the lowest. And now with our Lowest Rate Guarantee program, if you find a lower purchase mortgage rate, we’ll beat it or pay you $1,000.

Here’s how it works:

Easier:

  • 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 mortgage rates.
  • In most cases, you’ll have a rate decision the same day.
  • And if rates go down further, you can lock again!

Earlier:

  • We can lock your rate at preapproval or before preapproval.
  • We can even lock your rate without an application.
  • We can usually beat and even lock a competitor’s mortgage rate before they can.

Longer:

  • We can lock your rate prior to preapproval, all the way through loan approval. You can lock your rate for as long as 120 days on our standard rate lock or 300 days on our extended rate lock.
View related disclosures

Imagine if you could get a mortgage at today’s low rates and not worry about closing costs. With our new Low Cost Mortgages, you can, because you only pay $295 in closing costs. We pay all other closing costs, saving you thousands of dollars. And the interest rate is typically lower than what other lenders charge for their full closing cost loans. So go buy that new couch that’ll look perfect in your new family room!

  • No PMI withas little as 5% down
  • Jumbo loans at discounted rates
  • Available on 10, 15 and 30-year fixed rate and Smart Rate for purchases
Most lenders charge higher rates for "jumbo loans" between $510,400 and $1 million. At Third Federal, we offer discounts on jumbo loans. Because we believe big borrowing deserves more bang for their buck, not less.
This lock goes into effect when you apply, because at Third Federal, we believe you shouldn’t have to pay extra just to get enough time to close your loan. Most lenders only offer a 30-day rate lock. If you close after that time period, your rates could go up. 
You’ll get a 60-day rate lock at preapproval. When you convert to a full application, we offer an additional 60-day standard rate lock.
Third Federal is committed to helping communities thrive. With our HomeReady Mortgage Purchase product, you can put as little as 3% down and get up to $3,000 in down payment assistance. To learn more about Community Support or see rates, click here.
Many lenders will transfer your loan to another mortgage company, who may transfer it to another and so on, and so on. That can lead to problems. Fortunately, you don't have to worry about that with Third Federal. We service your loan for the life of your loan. And once it's paid off, we make sure it's cleared off your record, too.
Unlike some lenders, our associates work on a non-commission basis.  So their primary concern is finding the product that’s best for you, our customer, not what benefits them.
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Rated 5 out of 5 by from My New Favorite Bank Everyone I dealt with at Third Federal was so kind and competent, I just wanted to move my car loan over there. But they don't do car loans--just mortgages. And that's maybe why they are so good at it. Everything fell into place as smooth as could be. I personally was so relieved, since it was my first home-buying experience. I highly recommend this bank.
Date published: 2020-03-25
Rated 5 out of 5 by from Excellent service and attention to rate changes. I work with Mary out of the Avon Office and could not have gotten better service. This was my first experience with buying a home and acquiring a home loan. She was extremely helpful with walking me through the process and helping me to understand it.
Date published: 2020-03-24
Rated 5 out of 5 by from Low rates, paid closing cost Working with the Naples Fl branch for the home we purchased there was made easy & painless even though it took a while to find the house we liked, all the banking issues were handled over the phone or computer while we in Catawba Is, Ohio
Date published: 2020-03-22
Rated 5 out of 5 by from Home Mortgage The service I received from Third Federal in securing my home mortgage loan was phenomenal. The whole process was stress free and easy to go through. The rate got was the best around. Thanks to Sherrie at the Mentor location for all her help.
Date published: 2020-03-21
Rated 5 out of 5 by from Best experience ever! Renee was the best great service, low rates, and closed on time!
Date published: 2020-03-20
Rated 5 out of 5 by from Loan Officer Fantastic My loan officer Ben took his time, explained the process and made sure I understood everything through the process. He was timely,’professional and caring. Highly recommended.
Date published: 2020-03-20
Rated 5 out of 5 by from Third Federal tops in home mortgages Loan officer Michelle was very helpful throughout the process.
Date published: 2020-03-19
Rated 5 out of 5 by from Great rates. Super nice loan officer Florangela Romero (NMLS #638064) from the Hallandale location was very professional, supportive and ready to help. It is my 3rd loan with ThirdFederal and each time I had a great experience. Thank you all
Date published: 2020-03-13
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Mortgage purchase promotion