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 $1 million. At Third Federal, we offer discounts on jumbo loans. Because we believe big borrowing deserves more bang for their buck, not less.
Looking to refinance? Our HomeReady Mortgage Refinance has no closing costs and rates are about 2.00% APR lower than other refinance programs. To learn more about Community Support or see rates, click here.Click to learn more about Community Support
Many lenders will transfer your loan to another mortgage company, who may transfer it to another and so on, and so on. That can lead to problems. Fortunately, you don't have to worry about that with Third Federal. We service your loan for the life of your loan. And once it's paid off, we make sure it's cleared off your record, too.
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Rated 5 out of 5 by from Low cost 10 year This refinance was an incredibly easy process. We were able to do all of the paperwork online and even on our phones. Our loan officer was extremely knowledgeable and helpful. Closing happened at her kitchen table – I would recommend this to anyone who wants an easy and very competitive product.
Date published: 2020-03-24
Rated 5 out of 5 by from Low rates Low rates and good customer service.
Date published: 2020-03-23
Rated 4 out of 5 by from Low closing cost I have done refinancing..I checked with many lenders before moving to ThirdFederal and felt no point in refinancing(Other lenders showing attractive rates but closing costs are very high) . When I saw a letter from ThirdFederal I ignored it for couple of times but glad that I called to confirm the rates and closing cost. And its true what they gave on letter is exactly they offered. Rates are low compared to other competitors, and the closing cost is 295$ only.. I loved this..
Date published: 2020-03-23
Rated 2 out of 5 by from My credit score dropped to poor Everything was great until the check wasn’t enough to cover the mortgage payoff so I got dinged in my credit report for a late mortgage payment. From what I was told they contacted third federal that day And everyday forward and no one got back to them for a week. So yes my rate was low but now I have bad credit.
Date published: 2020-03-23
Rated 5 out of 5 by from Excellent Service I recently completed a mortgage refinance with Third Federal. The process could not have gone smoother. I was especially grateful for the excellent customer service. They answered all of my questions and worked with me to get the result I was looking for.
Date published: 2020-03-23
Rated 5 out of 5 by from Low cost, Fast turnaround This is the second time I've used Third Federal. They are extremely cost competitive, and quick to process the application.
Date published: 2020-03-23
Rated 3 out of 5 by from Low Rates but poor communication Communication was spotty, at best, and I never spoke to anyone on the phone until the day prior to closing where we were informed that closing costs were going to be much higher than expected. Other than that I was happy with the loan.
Date published: 2020-03-22
Rated 4 out of 5 by from low rates and option to change rates Very great mortgage loan products , process could be improved
Date published: 2020-03-21
Rated 5 out of 5 by from refinance Helpful, efficient and saved me $
Date published: 2020-03-21
Rated 5 out of 5 by from Great rates.. Honest. Low cost Great customer service! Low costs! Only $295 to refi... And they sent us a $100 home Depot card! I tell everyone about this federal
Date published: 2020-03-21
Rated 5 out of 5 by from Low interest rate, while providing a low cost Third Federal provided very competitive rates so when it was time for my husband and I to refinance we knew that we were staying with them. We have had our mortgage with Third Federal all along. Cindy made our whole refinance process a breeze helping us with every step. I would highly recommend Third Federal to our friends and family.
Date published: 2020-03-21
Rated 5 out of 5 by from Re-Fi Home Mortgage What I remember most about our Re-Fi is the unfailing personal attention given to me by your loan agent. She was prompt, responsive, and eager to solve any problem, and answer any question, I had. Perhaps above all else, she proved herself to be trustworthy, the quality I look for most in looking for loan agents. The process was burdensome, yes, but your agent somehow made it bearable. Don't let her go!
Date published: 2020-03-20
Rated 5 out of 5 by from Great rates We qualified so saved a bit of money.
Date published: 2020-03-20
Rated 4 out of 5 by from Low rates, low closing costs low rate and low closing costs
Date published: 2020-03-18
Rated 5 out of 5 by from Unbelievable low cost & great rate Our refinance was incredibly easy with Nicole leading us through every step of the process. The rate was competitive and the cost was unbelievably low.
Date published: 2020-03-17
Rated 1 out of 5 by from Low rate, took forever, little communication I applied to refinance my current Third Federal mortgage in order to shorten the term and lower the rate. The purchase mortgage was smooth and easy, so I thought refinancing that mortgage with the same lender would be the same. I was completely wrong. Applied 11/20/19, finally closed 2/14/20. Overall, a terrible experience.
Date published: 2020-03-17
Rated 5 out of 5 by from very low rates I was very happy with the rates and also how professionals they were with us.
Date published: 2020-03-14
Rated 5 out of 5 by from Great Rates and Great Service I refinanced my condo in Florida this spring. The interest rates were fantastic and most of all the service provided to me was honest, swift and easy to understand. Anita in Naples was fantastic. She is professional, organized and pays attention to detail. I was totally at ease with the process at Third Federal. It is a real bank with real people who care.
Date published: 2020-03-13
Rated 5 out of 5 by from Wonderful customer service and the best deal We shopped around and found the best rates at Third Federal. Chael was incredibly nice and helpful. I have already recommended her and Third Federal to a family member!
Date published: 2020-03-11
Rated 5 out of 5 by from Excellent product, excellent service. Excellent product, excellent service.
Date published: 2020-03-10
Rated 5 out of 5 by from Best Bank in town! I worked for Third Federal when they first came to Florida and always appreciated their values and how their customers were treated, like family. I refinanced with Third Federal because their loan officers are not brokers and do not receive commission for your loan. The process was easy and I am happy to have my mortgage with them!
Date published: 2020-03-07
Rated 5 out of 5 by from Overall My entire experience was good, with the exception of the closing attorney showing up an hour late. Otherwise, my loan officer was very nice, very knowledgeable and the process was pretty smooth/easy. Was happy with the product and the cost. Have already referred a business associate for a refi.
Date published: 2020-03-04
Rated 5 out of 5 by from Low cost Good everything
Date published: 2020-03-03
Rated 5 out of 5 by from Great rates low out of pocket coast Very nice people to work with.
Date published: 2020-03-03
Rated 5 out of 5 by from Great customer service, low rate, low cost Third Federal has always provided the best rates when shopping around and on top of it their customer service is top notch. They make sure you understand all your options and fees so you can pick the best scenario that suites your financial goals and needs.
Date published: 2020-03-02
Rated 5 out of 5 by from Appreciative, Fabulous Customer Care for Loyalty Fabulous Customer Service! Very knowledgeable, patient, and supportive thru the Re-Fi process, answering all of my questions promptly and thoroughly. Third Federal appreciates their loyal customers, providing me with the best rates, options, and solutions!
Date published: 2020-03-01
Rated 5 out of 5 by from Lo rates and no hidden fees I'm so glad that the loan has property taxes added in. Customer service rep very helpful.
Date published: 2020-02-29
Rated 5 out of 5 by from low rate Great support for veterans.
Date published: 2020-02-26
Rated 4 out of 5 by from lowest rate and closing cost could not find anyone with lower published rates or cost
Date published: 2020-02-26
Rated 5 out of 5 by from Customer service and timeliness. I have purchased many houses and gone through a few refinances. I have to say Third Federal was by far the quickest and most pleasant experience I have ever had. My loan officer responded within minutes to answer my questions. She kept me updated and she kept me on task. Great experience.
Date published: 2020-02-26
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