Mortgage Purchase with Third Federal
We offer several advantages when you’re buying or building a home. Only Third Federal locks your rate at preapproval, before you sign a purchase contract or even find a new home, protecting you from rising rates. And if rates should fall while you're shopping for a home, no worries. We’ll let you float down to the new lower rate for free, all you have to do is ask.
To make the process even less stressful, we also guarantee that your home purchase will close on time. If we’re late, we will pay you $500.
At Third Federal, we pride ourselves on providing genuine low rates without any tricks or undisclosed mark-ups. The rates you see here are the rates that you’ll actually get when you apply for a loan with us.
"Our experience with Third Federal was outstanding. The process was easy, the staff were amazingly helpful and I would use Third Federal again."
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.
Normally, you get a discount for buying in bulk. But that’s not true for loans. Most lenders actually charge higher rates for “jumbo loans” between $453,100 and $1 million. (As much as 1% higher). At Third Federal, we do opposite. We drop the rate on jumbo loans by 5 to 10 basis points. Because we believe big borrowers deserve 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 or
240-day extended rate lock. That’s a rate locked for up to 300 days!
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.