Mortgage Refinancing with Third Federal

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Mortgage Refinance
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Mortgage Refinance Rates for May 30, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (30 year) 2.64% 3.10%
5/1 ARM (30 year) Low Cost 2.99% 3.17%
5/1 ARM (15 year) 2.54% 2.96%
5/1 ARM (15 year) Low Cost 2.89% 3.07%
Product Rate APR
10 Year Fixed Rate 2.59% 2.76%
10 Year Low Cost Fixed Rate 2.99% 3.03%
Product Rate APR
30 Year Fixed Rate 3.39% 3.46%
15 Year Fixed Rate 2.99% 3.11%
10 Year Fixed Rate 2.59% 2.76%
10 Year Low Cost Fixed Rate 2.99% 3.03%
Product Rate APR
5/1 ARM (10 year) 2.54% 2.76%
5/1 ARM (30 year) 2.64% 3.06%
5/1 ARM (15 year) 2.54% 2.87%
3/1 ARM (30 year) 2.59% 3.12%
3/1 ARM (15 year) 2.49% 2.99%
Need Help Finding Your Solution?

Mortgage Refinance with Third Federal

Did you know we offer several low-rate refinance options, where closing costs can be as little as $295* When closing costs are this low, the break-even calculations are simple. At Third Federal, the rates you see here are the rates you get when you apply for a mortgage loan. Take a look at the chart below to see the refinance mortgage rates in your area.

Mortgage Refinance Rates

 
Mortgage Refinance Rates for May 30, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (30 year) 2.64% 3.10%
5/1 ARM (30 year) Low Cost 2.99% 3.17%
5/1 ARM (15 year) 2.54% 2.96%
5/1 ARM (15 year) Low Cost 2.89% 3.07%
Product Rate APR
10 Year Fixed Rate 2.59% 2.76%
10 Year Low Cost Fixed Rate 2.99% 3.03%
Product Rate APR
30 Year Fixed Rate 3.39% 3.46%
15 Year Fixed Rate 2.99% 3.11%
10 Year Fixed Rate 2.59% 2.76%
10 Year Low Cost Fixed Rate 2.99% 3.03%
Product Rate APR
5/1 ARM (10 year) 2.54% 2.76%
5/1 ARM (30 year) 2.64% 3.06%
5/1 ARM (15 year) 2.54% 2.87%
3/1 ARM (30 year) 2.59% 3.12%
3/1 ARM (15 year) 2.49% 2.99%

Why Refinance?

Homeowners refinance for many different reasons – no two situations are the same. Some folks refinance to lower their monthly payment and save money while others want to pay off their mortgage sooner, which also saves money. In other cases, some people want additional cash for family needs and apply for a mortgage refinance to borrow against the equity in their home. It can actually be one of the smartest and most efficient ways to borrow.

Is refinancing right for me?

Keep in mind; it doesn’t always make sense to refinance your mortgage. It depends on your current rate, loan term, the current rate environment, and what your objective is. Experts once said that you should only refinance when you can reduce your rate by 2% or more, but there really isn’t a rule determining when to refinance. Some homeowners use a break even time period, which calculates how long it will take to break even on the cost of refinancing to a lower rate or shorter term. Luckily, Third Federal can help you make this important decision.

Third Federal Advantage

Many lenders advertise “best customer” rates (which only cyborgs with perfect credit qualify for), only to offer you a higher rate once you’ve filled out an application. It’s a classic bait and switch, and its wrong. At Third Federal, we have one rate, even if you want to take cash out. That’s the rate we advertise. And if you qualify, that’s the rate you get. Period.
Borrowers are often shocked by huge closing costs at the end the refinance process. That won’t happen at Third Federal. We offer $295 closing costs on all Smart ARMs and 10-year fixed refinances. We also offer lower closing costs on other loan products.
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. 
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.
Looking to refinance? Our HomeReady Mortgage Refinance has no closing costs and rates are about 2.00% APR lower than other refinance programs. To learn more about Community Support or see rates, click here.Click to learn more about Community Support
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.
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Rated 1 out of 5 by from REFI I refinanced my LOC into a mortgage in February. I STILL do not know where $500+/- went. I called at least 4 times and spoke with a number of people. The last saying she was going to look into it and get back to me by end of day. I think that was close to a month ago.
Date published: 2020-04-03
Rated 5 out of 5 by from Low Rates Rates were very low and the customer service was outstanding. The easiest refinance I have ever experienced!
Date published: 2020-04-01
Rated 4 out of 5 by from Mortgage refinance I was originally very satisfied with my mortgage refinance with Third Federal. But I recently learned that they did not include my homeowners insurance in my mortgage payments. I was not told this. I have always had my homeowners insurance included in my escrow. I called on this and was told that third federal does not pay homeowners insurance out of escrow. I said this is wrong, that I have had a third federal mortgage before and had my homeowners insurance taken out of escrow.
Date published: 2020-03-31
Rated 5 out of 5 by from Re-Fi, low cost, low rate, Good rates, excellent customer service, friendly, knowledgeable loan officer K.G.
Date published: 2020-03-30
Rated 1 out of 5 by from Longest Loan of my life I started the loan refinance process early October 2019. I was told all needed documents were ready and we were going to close early December, but it may be up to another 2 weeks for final signing. I checked back in multiple times and was asked for more information that I had already provided, dealt with slow or incomplete responses, then a new prep for closing statement was issued in late January. I finally closed mid February, 2020...4 months later, not to mention the addt'l higher rate mortgage payments in the interim. No one in the company was on the same page.
Date published: 2020-03-24
Rated 4 out of 5 by from Good Rates, Poor Service The on-line loan process is very good. The rates are very good with many options. The loan officer was not good and almost cost me to lose the refinancing based on not meeting a deadline he was supposed to take care of. He was often Off for the day, missed my messages and emails and did not answer my questions. Notary process at the home easy and very good.
Date published: 2020-03-24
Rated 5 out of 5 by from Refinancing to lower rates Rates were low and service was outstanding.
Date published: 2020-03-24
Rated 4 out of 5 by from Excellent rate; average turnaround Overall experience was good, but not great. Loan and servicing personnel were pleasant. Excellent rate offered. Disappointed at the direct-bill-only option. Elderly gentleman sent to "close" did not inspire confidence.
Date published: 2020-03-24
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