Mortgage Refinancing with Third Federal

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Mortgage Refinance
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Mortgage Refinance Rates for August 06, 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 2.69% 2.81%
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 August 06, 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 2.69% 2.81%
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 4 out of 5 by from Great loan officer The first time I talked with the loan officer about refinancing, it was suggested that the ROI was not advantageous enough to pursue and I should wait and see what happens in the market. Good advice! A few months later, I reached out again and after doing the analysis, it became more beneficial to move forward. When you buy a home, your realtor acts as your guide in the financing process and answers questions, aids in gathering information, etc. Or at least mine did! On a refi, that role is played by your loan officer and mine was helpful, patent and responsive.
Date published: 2020-07-28
Rated 5 out of 5 by from Low rates and low cost The best rates with the lowest closing costs I could find. No hidden fees. The ability to to a add additional years of locked rates to an ARM product when you are nearing the end of the ARM locked rates gave me great flexibility and peace of mind. I'm not aware of any other ARM products like this.
Date published: 2020-07-28
Rated 2 out of 5 by from Challenging Process While I’m a fan of Third Federal generally, I was not pleased with the mortgage refinance process. It was disorganized, and we had to submit paperwork several times.
Date published: 2020-07-25
Rated 5 out of 5 by from Great people...great rates...great bank Best Rates in Town.
Date published: 2020-07-25
Rated 5 out of 5 by from GREAT Service and Low Rates When interest rates went down this year we decided to refinance our original Third Federal mortgage loan to take advantage of the savings. Third federal representatives made the process easy and quick. The folks that we dealt with at Third Federal were all very attentive to our needs and through the pandemic were able to handle almost the entire transaction electronically. Keep up the great work.
Date published: 2020-07-24
Rated 5 out of 5 by from Best Rates Rates was lower and the customer service was good
Date published: 2020-07-24
Rated 5 out of 5 by from ReFinance I have been with Third Federal for years and love them, Emily was excellent and very helpful, The staff has always been the best!! I recommend Third Federal anytime I hear someone is buying a house or refinancing the service is excellent and always have been
Date published: 2020-07-24
Rated 5 out of 5 by from Best service anywhere. Everyone was so helpful as always. We have been with Third Fed for years and never disappointed.
Date published: 2020-07-22
Rated 5 out of 5 by from Refinancing ease at great price I have carried my mortgage with Third Federal since the 1990's. They always seem to have the best rates (my regular bank is not even close) and their online application system is user friendly and makes the process simple. Liz answered any questions I asked promptly and thoroughly and closed 5 weeks from date of application.
Date published: 2020-07-21
Rated 5 out of 5 by from Knowledgeable and very responsive. Everyone I dealt with in the refinance process knew their jobs, were very well-informed and responsive to emails. Very professional. Very good interest rate, too. I suspect Third Federal treats their employees well to be able to retain such competent people.
Date published: 2020-07-21
Rated 5 out of 5 by from Great people Shannon gave tremendous customer service especially under difficult circumstances with covid-19
Date published: 2020-07-20
Rated 5 out of 5 by from Lowered mortgage cost by $450 / month I opted for the low cost $295 fixed fee refinance loan. This was a 5/1 arm type of loan. I applied online, it told me what documents to collect beforehand. I got ready and when I heard from a loan officer on my email, I was able to quickly send my paperwork. Third Federal sent an appraiser and paid for all of the other things that are typical in a loan. The whole process took three weeks. We are extremely happy to get out of our old expensive loan and we are saving $450 per month now from what we were paying before.
Date published: 2020-07-19
Rated 5 out of 5 by from Very well designed process + excellent service Good customer communication combined with a predictable process and combined with very low rates. I'm a very satisfied customer.
Date published: 2020-07-18
Rated 5 out of 5 by from Superior Customer Service I've gone through the mortgage process a number of times in my life. Heidi in Gahanna made this process the smoothest and easiest of my experience. She was attentive, professional, and top-notch!
Date published: 2020-07-18
Rated 5 out of 5 by from Easy online refi Low rates and cost , easy
Date published: 2020-07-18
Rated 5 out of 5 by from Excellent customer service Low rates and excellent customer service
Date published: 2020-07-18
Rated 5 out of 5 by from GOOD RATES THE RIGHT PRODUCTS DOUBLE AA Worked very hard to make this Refin. come thru from long distance. TFS empolyee managed the flood insurance, the condo insurance, and all the other requirements to complete this transaction.
Date published: 2020-07-16
Rated 5 out of 5 by from Customer service Refinancing during a global pandemic couldn’t have gone smoother. My loan officer, Jenel, was very kind and supportive. She made herself available for any question or concern I had, even during weeks she was working remotely. The service from Jenel was superb and it made the refinance process so simple!
Date published: 2020-07-16
Rated 5 out of 5 by from Great rates, very low closing costs and superior s Rates were competitive, closing costs were ultra low but most importantly the personal service and responsiveness that is unheard of. Closing process was fast, concise and very personalized.
Date published: 2020-07-14
Rated 5 out of 5 by from Low rates and customer service Rates
Date published: 2020-07-14
Rated 5 out of 5 by from Professional and helpful I appreciated Third Federal's prompt and thorough assistance when I refinanced my loan. They were courteous and patient in answering all of my questions and were very detailed (which I needed) when answering my questions. Thank you.
Date published: 2020-07-13
Rated 5 out of 5 by from great job everyone was very helpful and response during a refinance. great job!
Date published: 2020-07-13
Rated 5 out of 5 by from Low rate and cost The process in applying, getting approval and closing was outstanding and very accommodating. The officers involved were polite and understanding.
Date published: 2020-07-12
Rated 5 out of 5 by from Outstanding rates, service and processing. Allison was fantastic. Prompt and efficient, she answered every question we had in a timely manner.
Date published: 2020-07-11
Rated 5 out of 5 by from Service I would like you to give special commendations on my behalf to Samantha, Julie, who continually helped answer my questions throughout the loan process in a speedy manner. Heather also was very helpful, so please commend her as well.
Date published: 2020-07-11
Rated 5 out of 5 by from Excellent Product and Top Notch Service From beginning to end this refinance was a smooth transaction. I took care of everything by phone and email and when I came to the branch to sign, everything went well. Everyone involved made me feel comfortable with the ARM knowing I can modify to a new ARM at a low cost if needed in the future.
Date published: 2020-07-08
Rated 5 out of 5 by from Great Low rates, low cost, very helpful/friendly service folks.
Date published: 2020-07-07
Rated 5 out of 5 by from Outstanding customer service Rates were low and the refinance process was easy to navigate both online and at the bank. Aldo, the bank associate, was very professional and personable. He explained everything very clearly and worked with me expeditiously throughout the entire process.
Date published: 2020-07-07
Rated 5 out of 5 by from Low rates Customer service was outstanding.
Date published: 2020-07-07
Rated 4 out of 5 by from Great Rate! Refi with a great rate and term! Representative was attentive and readily available. Entire process was a bit long but got closed and couldn't be happier (so far)!
Date published: 2020-07-06
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