Mortgage Refinancing with Third Federal

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Mortgage Refinance
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Mortgage Refinance Rates for September 29, 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 September 29, 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 5 out of 5 by from Good rate, low closing costs, Rate I received was competitive and closing costs less than competitors. Our loan officer was very helpful in guiding us through the application process and promptly responding to our questions with good explanations.
Date published: 2020-08-28
Rated 5 out of 5 by from Renew Morgage Rates are low and we received a great rate.
Date published: 2020-08-27
Rated 5 out of 5 by from Great Rates and Service Hard to beat the rates, and you get great service and communication throughout the process as well.
Date published: 2020-08-26
Rated 5 out of 5 by from Third Federal has a great reputation for low rates Rates are great we did a cash out and my brother found a manager at the Dublin location for me and put me in the hands of her and she didn’t amazing job name is Heidi. We are very happy with our experience with Third Federal. I have more than the usual amount of questions because I hadn’t been to refine a long time.
Date published: 2020-08-24
Rated 5 out of 5 by from painless process - refinancing appreciate the secure email and account access in processing our refinancing loan AND the ease is coming in to review and formally sign off--thank you
Date published: 2020-08-23
Rated 5 out of 5 by from Excellent Process and Service Refinancing with Third Federal was the best experience I have had with a mortgage. The process and service was excellent. Everyone was friendly and helpful. I have shared my story with friends and colleagues.
Date published: 2020-08-23
Rated 5 out of 5 by from Low rate and low cost Excellent work done by Jamila
Date published: 2020-08-23
Rated 4 out of 5 by from Easily refinance Rates were low and it seemed a good time to refinance to get a fixed rate. The process was fairly easy and the associates were very helpful. The only problem is I have yet to receive my escrow rebate.
Date published: 2020-08-23
Rated 4 out of 5 by from Good experience but lack of communication Had to keep asking where my appraisal was and the appraisal arrived two weeks after I was told.
Date published: 2020-08-22
Rated 5 out of 5 by from Great rates Great personal to walk you thru the process!
Date published: 2020-08-22
Rated 5 out of 5 by from Easy Process Nice to finally have my mortgage bank local. I have used Third Federal before, based on their service I returned once again.
Date published: 2020-08-22
Rated 5 out of 5 by from Mortgage Refinance Refined my existing mortgage with Third Federal and got a great rate on a 5/1 ARM. The entire process went very smooth without any problems. I worked with Sharon and she was great. She was always responsive, pleasant, and very helpful. Overall, I was very pleased with Third Federal.
Date published: 2020-08-19
Rated 5 out of 5 by from Low Rates, Low Closing and Trustworthy! I love Third Federal's style, give better rates and better service than anyone else! The low cost options have allowed us to refinance several times to pull cash out of our equity while getting better rates. Thank you!
Date published: 2020-08-19
Rated 4 out of 5 by from Good experience considering the rush of refi's. Very happy with everything so far. With the amount of refi's going on, this went relatively quickly. Pretty good communication through the website, and pretty good with the rep. I was surprisingly impressed with the website. I would definitely recommend Third Federal.
Date published: 2020-08-18
Rated 4 out of 5 by from Refinance The combination of rates and closing costs made made refinancing attractive with Third Federal.
Date published: 2020-08-18
Rated 5 out of 5 by from Excellent staff Third Federal may not be a BIG bank but we are very lucky to work with some excellent loan officers. Prior to Third Federal, we contacted two other banks for the refinance. Their response time is HORRIBLE compared to Third Federal, not mentioning their rates are not that competitive. We also want to praise Third Federal's loan web site. It is well designed and easy to find information we need.
Date published: 2020-08-17
Rated 3 out of 5 by from Long process, less competitive. It took over 2 months for the process to be finalized. Maybe partially my fault but all communications even time sensitive ones were done through email. I missed my window of signing because i was gong on vacation and didnt see the email or have the time to go sign. After finalizing many friends explained the fees were to high compared to any one else's loans.
Date published: 2020-08-15
Rated 5 out of 5 by from Great rate Best rates available and loan process was easy
Date published: 2020-08-15
Rated 5 out of 5 by from Refinance Rita was incredibly helpful walking us through the process of refinancing our home. We were very happy with both the service and the competitive interest rates that Third Federal offers.
Date published: 2020-08-13
Rated 4 out of 5 by from low rates The rate and service was good
Date published: 2020-08-11
Rated 5 out of 5 by from Good rates Great rates
Date published: 2020-08-09
Rated 5 out of 5 by from Excellent customer service I refinanced a mortgage and the service was excellent. I received a great rate and it only took a few weeks to close. The agent Lea was excellent
Date published: 2020-08-08
Rated 5 out of 5 by from Easy to work with The entire process was simple and easy from start to finish. No jumping through hoops.
Date published: 2020-08-08
Rated 5 out of 5 by from Low rates Liz did an outstanding job with customer service with our loan. I have health issues and liz took extra time to sanitize the closing room. Liz should be considered an asset to your company!!!!!!!!!!!!!!!!
Date published: 2020-08-08
Rated 3 out of 5 by from Low rates, slow on communication. The rate I received was wonderful. The first two/ three weeks I had constant feedback and questions answered. My loan officer went on vacation and it was very difficult to get help. My closing had been approved and a tentative closing date however it took an additional two months after receiving closing papers to get a date. There was minimal communication during this time. My loan officer was helpful and very nice but I had to reach out to third federal to be updated on the status and closing. I have recommended Third Federal to friends because of great rates but told them process was slow and communication was not a strong suit.
Date published: 2020-08-04
Rated 4 out of 5 by from Low costs, low rate, good reputation Of the three banks I chose to call, one of which was my current mortgage holder, Third Fed was the cheapest in closing costs and had the lowest percentage rates. I've had previous mortgages with them as have many of my family members. I deducted one star only because the representative serving me could have done better. Some scheduling was difficult, partially due to COVID such as being told to make an appt during times appts were not needed, but also telling me to contact someone who had retired, not getting back to me in a timely manner occasionally, and referring to my husband and I coming in to sign papers when I have no husband and did my loan solo. There were some technical difficulties as well with doing docs through the secure portal. Little things really, but too many to get 5 stars.
Date published: 2020-08-02
Rated 5 out of 5 by from It was a nice plan to refinance my loan The loan rate was great the loan officer was very easy to work with
Date published: 2020-08-02
Rated 4 out of 5 by from selling the loan to Fannie Mae While service was great and website was easily navigated, I likely would have kept searching for a company that would have kept my loan instead of immediately selling it to Fannie Mae as I appreciate a business relationship where both sides have skin in the game.
Date published: 2020-07-31
Rated 1 out of 5 by from 1st Mortgage Refi I have used several mortgage company services over the years and 3rd Federal 1st mortgage refi customer service was the worst ever. The refi process took twice as long as it should have and closed a month beyond the rate lock expiration window. The department initiative and interest in the customer's refinance was low. I had to constantly call for a status update which would not be consistent depending on which representative I talked to. I waited one time to call for an update for two weeks to see if anything changed. After not hearing from 3rd Federal for two weeks I called for an update. Nothing has changed and the application had not progressed. I finally called the loan closing company to see if they had any insight. The closing company was waiting on 3rd Federal to supply required information. I called 3rd Federal to give them this update. If it wasn't for the loan closing company calling 3rd Federal to help me move this stalled loan, it probably never would have closed. I appreciate the loan closing company helping me get 3rd Federal off of their butts and close this loan. 3rd Federal likes to blame Covid for the delay, but this was not true, since the process is mostly online and the employees were working online from home. About 2 weeks into the 1st mortgage refi, I also was approved for a HELOC loan. The HELOC process was completed in two weeks with no issue. The 1st mortgage refi was just the opposite. There are other details with 3rd Federal 1st mortgage refi that are not mentioned here that went wrong. 3rd Federal 1st mortgage refi rates and costs were excellent which is why I put up with the incompetence, but very close many times pulling my application and going somewhere else.
Date published: 2020-07-29
Rated 5 out of 5 by from Low rates very easy process to apply for mortgage Third Federal really puts effort into the whole process. It’s clear and upfront. Friendly professional service. This is our second time using them for a mortgage refi
Date published: 2020-07-29
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