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home / home equity / products & rates

Home Equity Line of Credit

A home equity line of credit is a revolving line of credit that offers flexibility to access available funds for a set term.  With rates near an all-time low, a Third Federal Home Equity Line is a great option if you are looking to make a home improvement, purchase a car, pay for college tuition or consolidate high-interest debt. You can use your home equity line for whatever you need, whenever you need it!

With a Third Federal Home Equity Line of Credit, you begin paying back the principal right from the start. This enables you to build equity faster and gives you a consistent monthly payment throughout the life of your loan. The best part is that there are no large payment increases at the end of the draw period.

Benefits of a Third Federal equity line:
  • Pay less interest.  Average savings of $8,000*
  • No closing costs, prepayment penalties or minimum
    draw requirements
  • Up to 10 year draw period**
  • Balanced monthly payments
  • Deduct 100% interest from taxes¹
  • Historically low rates
  • Build equity faster
Plus:
  • Competitive variable interest rates on all line amounts
  • Borrow up to 80% of the equity in your home
  • Available line amounts from $10,000 to $150,000
  • Make additional payments at any time without penalty
  • Easy access to funds

 

Home Equity Line of Credit
Northeast Ohio
Thursday, April 24, 2014
ProductsAPRFeatures
Equity Line of Credit2.99%No closing costs/prepayment penalties
Equity Line of Credit3.25%No closing costs/prepayment penalties
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