Mortgage Refinancing with Third Federal

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Mortgage Refinance
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Mortgage Refinance Rates for October 22, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (15 year) 2.34% 2.84%
5/1 ARM (15 year) Low Cost 2.69% 2.95%
5/1 ARM (30 year) 2.44% 3.04%
5/1 ARM (30 year) Low Cost 2.79% 3.10%
Product Rate APR
10 Year Fixed Rate 2.39% 2.56%
10 Year Low Cost Fixed Rate 2.79% 2.83%
Product Rate APR
10 Year Fixed Rate 2.39% 2.56%
10 Year Low Cost Fixed Rate 2.79% 2.83%
15 Year Fixed Rate 2.59% 2.71%
30 Year Fixed Rate 3.09% 3.16%
Product Rate APR
5/1 ARM (10 year) 2.34% 2.61%
3/1 ARM (15 year) 2.14% 2.86%
5/1 ARM (15 year) 2.34% 2.76%
3/1 ARM (30 year) 2.24% 3.05%
5/1 ARM (30 year) 2.44% 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 October 22, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (30 year) 2.44% 3.04%
5/1 ARM (30 year) Low Cost 2.79% 3.10%
5/1 ARM (15 year) 2.34% 2.84%
5/1 ARM (15 year) Low Cost 2.69% 2.95%
Product Rate APR
10 Year Fixed Rate 2.39% 2.56%
10 Year Low Cost Fixed Rate 2.79% 2.83%
Product Rate APR
30 Year Fixed Rate 3.09% 3.16%
15 Year Fixed Rate 2.59% 2.71%
10 Year Fixed Rate 2.39% 2.56%
10 Year Low Cost Fixed Rate 2.79% 2.83%
Product Rate APR
5/1 ARM (10 year) 2.34% 2.61%
5/1 ARM (30 year) 2.44% 2.99%
5/1 ARM (15 year) 2.34% 2.76%
3/1 ARM (30 year) 2.24% 3.05%
3/1 ARM (15 year) 2.14% 2.86%

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 Very slow process, one cancelled settlement. Great rate, but the process was painfully slow, probably the worst of our dozen or so refinaces in the last 30 years on two properties. There were repeated, last-minute requests for documents that should have been asked for at the beginning (to include one day before settlement, which was cancelled). We have an existing Home Equity loan and up until this refinance were very satisfied with Third Federal.
Date published: 2020-10-19
Rated 4 out of 5 by from Review Customer service is not the best.
Date published: 2020-10-19
Rated 5 out of 5 by from Great rate and great customer service I had a good experience with Third Federal.the loan officer always responded and kept me informed. Underwriting was very slow and took me 2 1/2 MOs to get closed though.
Date published: 2020-10-19
Rated 5 out of 5 by from Excellent customer service and low rates It was great working with Third Federal on my mortgage and home equity loan. Staff is always friendly and helpful. My loan office Renee was very helpful walking us through the process. I highly recommend Third Federal.
Date published: 2020-10-18
Rated 5 out of 5 by from Low rate, excellent service Rates are amazingly low, outstanding service and knowledgeable staff
Date published: 2020-10-18
Rated 5 out of 5 by from Absolutely Superior Customer Service! I have been a customer of Third Fed for about 17 years by now. In my humble opinion, Third Fed's team is spectacular, across the board. Whether it comes to banking at the branch, questions about (literally anything), the loan application and approval process, transparency regarding rates, rules, policies, etc., Third Fed flies above the competition. Note that I am 73 years old, and, during my lifetime, I've used a lot of different financial institutions. I am also a CPA. I respect professionalism, and I deeply appreciate fantastic customer service.
Date published: 2020-10-18
Rated 4 out of 5 by from Low Rates and lots of poor communications Researched refinancing my home and rates were the lowest at this bank. However througout the process, there was a lot of miscommunications between the branch and the main office, as well as duplicate and unnecessary paperwork being disseminated.
Date published: 2020-10-18
Rated 5 out of 5 by from Low rates and low costs This is the second time I used them in the last 5 years they make the process easy and would highly recommend them.
Date published: 2020-10-09
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