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Third Federal Savings & Loan

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Third Federal Savings & Loan

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A home equity line of credit is a variable-rate loan with a draw period and a repayment plan. Home equity lines give you the flexibility to borrow additional funds up to your credit limit. Use your home equity line for whatever you need, whenever you need it. Accessing your funds is as easy as writing a check or using your debit card. You only pay interest on the money as it is borrowed. Once the money is paid back, you may use the funds again. The draw period is a timeframe (usually 5 to 10 years) in which you may borrow on the line and pay it back as many times as you like. You receive a bill each month based on your ourstanding balance for either the interest only or for a combination of principal and interest. When the draw period is over, the full balance may be due or a repayment schedule may be set up, depending on your lender. Home equity lines of credit are a great tool when you are uncertain of how much borrowing you will need, or you anticipate having to borrow more funds in the future or for projects like remodeling, that have multiple payments phased in over time.

Rates for May 08, 2025
Cuyahoga County, Ohio
All Mortgage Rates 0 Points
Product Rate APR
Home Equity Line of Credit 6.990% 6.990%
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Mortgage Refinance

At Third Federal, we provide genuinely low rates and closing costs without any tricks or undisclosed mark-ups.

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Preapproval

You’ll receive our fully underwritten preapproval—not just a prequalification. When home sellers and realtors see that you are preapproved with us, they know you’re a qualified buyer!

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Mortgage Purchase

You won't find a better mortgage package – anywhere. No matter which of our many mortgage products you choose, you always get a wealth of benefits.

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Home Equity

With rates near an all-time low, a home equity line or loan is a great option if you’re looking to make a home improvement, buy a car, pay for college tuition, or consolidate high-interest debt, plus our rates are usually at least .25 percent below other lenders.

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Borrowing Help Center

Get tips on smart borrowing, monitor rates, and learn about our home buying seminars.

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