Mortgage Refinancing with Third Federal

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Mortgage Refinance
Mortgage Refinance Rates for February 26, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (30 year) 2.84% 3.50%
5/1 ARM (30 year) Low Cost 3.19% 3.57%
5/1 ARM (15 year) 2.74% 3.28%
5/1 ARM (15 year) Low Cost 3.09% 3.39%
Product Rate APR
10 Year Fixed Rate 2.79% 2.97%
10 Year Low Cost Fixed Rate 3.19% 3.23%
Product Rate APR
30 Year Fixed Rate 3.49% 3.56%
15 Year Fixed Rate 2.99% 3.11%
10 Year Fixed Rate 2.79% 2.97%
10 Year Low Cost Fixed Rate 3.19% 3.23%
Product Rate APR
5/1 ARM (10 year) 2.64% 2.95%
5/1 ARM (30 year) 2.84% 3.45%
5/1 ARM (15 year) 2.74% 3.20%
3/1 ARM (30 year) 2.79% 3.55%
3/1 ARM (15 year) 2.69% 3.38%
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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 February 26, 2020
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
5/1 ARM (30 year) 2.84% 3.50%
5/1 ARM (30 year) Low Cost 3.19% 3.57%
5/1 ARM (15 year) 2.74% 3.28%
5/1 ARM (15 year) Low Cost 3.09% 3.39%
Product Rate APR
10 Year Fixed Rate 2.79% 2.97%
10 Year Low Cost Fixed Rate 3.19% 3.23%
Product Rate APR
30 Year Fixed Rate 3.49% 3.56%
15 Year Fixed Rate 2.99% 3.11%
10 Year Fixed Rate 2.79% 2.97%
10 Year Low Cost Fixed Rate 3.19% 3.23%
Product Rate APR
5/1 ARM (10 year) 2.64% 2.95%
5/1 ARM (30 year) 2.84% 3.45%
5/1 ARM (15 year) 2.74% 3.20%
3/1 ARM (30 year) 2.79% 3.55%
3/1 ARM (15 year) 2.69% 3.38%
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Click here to view related disclosures

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 Very competitive rates and very low cost The process was very smooth , very happy with the professionalism and sense of responsibility from the staff and bank officers. Compared to previous banks that I've used, Third Federal is by far and above the best of them all, keep up the great work.
Date published: 2020-02-20
Rated 5 out of 5 by from Very Good Rates Great rates, easy to work with, accommodated my schedule as much as possible. This is my second time working with Third Federal and I recommend them to others.
Date published: 2020-02-20
Rated 5 out of 5 by from Low rate lie closing costs The main n reason I chose Third Federal was the least w closing cost. The customer service was also outstanding. They were very friendly and knowledgeable.
Date published: 2020-02-18
Rated 4 out of 5 by from low rates rates were reasonable service was very knowledgeable
Date published: 2020-02-17
Rated 5 out of 5 by from Low rate, low cost, excellent customer service My husband and I recently refinance our mortgage with Third Federal. We have never received better customer service than we did with everyone we worked with at Third Federal.
Date published: 2020-02-17
Rated 5 out of 5 by from Low rates We refinanced our home an increitable rate. Your entire team at the bank went out of their way to service us. Could not have been any better. THANK YOU ALL
Date published: 2020-02-17
Rated 5 out of 5 by from Refinance Rates available via Third Federal were very competitive and Loan Officer was very helpful
Date published: 2020-02-15
Rated 5 out of 5 by from Low cost Great rates and customer service. Thanks Shelli.
Date published: 2020-02-15
Rated 5 out of 5 by from Best everything My loan officer, Alicia, is outstanding! She has handled the majority of my clients as a realtor, including the all important bridge loans!She also just handled my personal re-fi. They close on time! They can’t be beat!
Date published: 2020-02-15
Rated 5 out of 5 by from ARM with Re-Lock feature Pleased with your representative (TF) who patiently answered my calls and my questions.
Date published: 2020-02-14
Rated 5 out of 5 by from Good rates Process was fairly easy for all being done through email
Date published: 2020-02-14
Rated 5 out of 5 by from Refi Jackie at the St. Petersburg Branch made refinancing so easy! She was an amazing help and walked us through the process. She communicated with us very well and always kept us in the loop! Third Federal has always made banking easy and it's their employees shine for them!!
Date published: 2020-02-11
Rated 5 out of 5 by from Great service, great rates only one silly thing! Great rates and great service. But knock off the silly fee to do a timely ACH transfer.
Date published: 2020-02-11
Rated 4 out of 5 by from Low rate Low cost Low rates and good Customer service
Date published: 2020-02-09
Rated 5 out of 5 by from Great Rates Third Federal has some of the best rates available. Also love that they keep and service the mortgage and do not resell it.
Date published: 2020-02-08
Rated 5 out of 5 by from Exemplary service and communication I felt that my loan office took excellent care in making sure I was well informed about my options and genuinely worked in my best interest. I am very pleased that I had the opportunity to work with this institution and my rates have never been lower. Thank you guys!
Date published: 2020-02-07
Rated 5 out of 5 by from Low cost and friendly service Very low cost and the service was really outstanding. The service agent was always keep me informed about the progress.
Date published: 2020-02-06
Rated 5 out of 5 by from Low rates and closing costs Rates in mailing seemed almost too good to be true but caused us to compare them to two competitors' proposal. We refinanced our mortgage with Third Federal and were very pleased by how smoothly the on-line process was and how much lower our monthly payment is.
Date published: 2020-02-05
Rated 5 out of 5 by from Low refinance rate and very low costs. Great rates, low costs, good communications.
Date published: 2020-02-04
Rated 5 out of 5 by from refinance had an excellent experience with everyone. jackie,renee and carloswere verry helpful couldn't do enough for me. thanks again
Date published: 2020-02-04
Rated 5 out of 5 by from low rates, friendlier service I've been with Third Federal for several years and had to refinance my house twice due to a divorce.... went from a 15 year loan to a 30 and then back to a 15 year loan... not fun but Third Federal had great rates and even better closing costs... the online access is pretty good and even though these loans take a few weeks longer than let's say Quicken Loans say they take I would rather spend and extra two weeks and save hundreds (or more) working with Third Federal
Date published: 2020-02-04
Rated 5 out of 5 by from Good customer service Hard to find good customer service. Totally appreciated the service and the rates at Third Federal
Date published: 2020-02-04
Rated 5 out of 5 by from Really like the low rates Betty was outstanding in helping me. Was always available to answer questions and with advice
Date published: 2020-02-03
Rated 3 out of 5 by from Good product, sub par customer service First, I have already filled out a review at their request so now this is the 2nd time they are asking for a review so apparently they don't have their act together for even this. So here I go again. Basically, the product is good! But if you are completely refinancing or this is a new mortgage, you have to completely babysit the process or it will take twice as long as they say. People working with you either take their sweet time or just simply forget to send things or follow up with you. ("Oh, sorry, I forgot to do that") Not good. Hopefully, this is the last time they will ask for my review.
Date published: 2020-02-03
Rated 5 out of 5 by from Thank you for helping me Heidi with this loan Heidi was very pleasant to work with and I have in the past My daughter and my son-in-law has worked with Heidi she is very efficient see Siri explains everything I want to thank ThirdFederal Long for helping me and thank you Heidi
Date published: 2020-02-01
Rated 2 out of 5 by from Low rates Staff needs more training and better communication skills. I was told two days before Christmas I needed a payment up front. I was constantly on the phone with the person I was assigned to because I called with questions. I received a call from a random guy saying he needed to come to my house. I gave him a hard time until I confirmed with Third federal this was part of the process! Lack of communication! He was very professional. Staff needs more Tskills. Also I did realize I could use my house payment money be cause I was allowed to skip a month which took my stress back away...lack of communication!
Date published: 2020-01-28
Rated 5 out of 5 by from Customer Care Customer care representative was excellent!
Date published: 2020-01-28
Rated 2 out of 5 by from Lengthy process and poor attention to detail In September 2019 we applied to refinance an existing mortgage. Since the existing mortgage was with ThirdFederal and was only about two years old, we thought the process would go quickly and smoothly. This was not the case. We did not close on the new loan until early January 2020. To make matters worse, ThirdFederal used outdated payoff amounts (four months old) for two other loans we were paying off as part of the refinance. We are still waiting for a refund for the amount of the overpayment.
Date published: 2020-01-26
Rated 5 out of 5 by from mortgage loan I've been a customer of third federal for many years. When we moved out of the Cleveland area we were forced to obtain a mortgage loan from the company that dealt with the condo assoc. When that mortgage company made a huge mistake when deducting our payment from our checking account, which was a third federal account, we wanted to have our mortgage with a reputable loan company. We applied once again to third federal where we had our mortgage before we moved. I would highly recommend third federal.
Date published: 2020-01-25
Rated 2 out of 5 by from Slow service Slow service. 90 days for a refi at the same bank?!?!?
Date published: 2020-01-25
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