Buying a Home with Third Federal
Third Federal offers several mortgage options when you’re in the market to purchase a home. In addition to fixed rate mortgages, our Smart Rate Adjustable Mortgage offers low interest rates and gives you control to relock your rate for up to five more years anytime during the life of your loan. And, for a limited time, you pay $0 in closing costs with our low cost mortgages, saving you thousands of dollars.
Featured Third Federal Programs
Early Rate Lock
With Early Rate Lock, Third Federal locks your interest rate before you find a home, taking the stress out of home buying. And, if rates go down before you find a home, you can request the lower rate for free!
Buy Now. Refi Later
We know buying a new home can be stressful. That’s why we’re here to help – and save you money in the process. When you buy a home today and get a loan with Third Federal, you’ll get the guaranteed lowest rate. And if rates drop within twelve months, you can refinance to the lower rate for free through our Buy Now. Refi Later program!
First Time Homebuyer
In the market for your first home? Unlike other lenders who require at least a 20% down payment, at Third Federal you can put just 5% down without private mortgage insurance (PMI). Need to put even less down? You can with Third Federal’s 3% down with PMI! Plus, we offer up to $750 off closing costs for first time homebuyers!
| Product | Rate | APR |
|---|---|---|
| 5/1 ARM (30 year) | 5.790% | 6.389% |
| 3/1 ARM (30 year) | 5.640% | 6.485% |
| 5/1 ARM (15 year) | 5.590% | 6.082% |
| 3/1 ARM (15 year) | 5.590% | 6.312% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Low Cost Fixed Rate | 6.390% | 6.397% |
| 30 Year Low Cost Fixed Rate | 6.790% | 6.822% |
| 30 Year Low Cost Fixed Rate | 6.340% | 6.356% |
| 30 Year Low Cost Fixed Rate | 6.390% | 6.394% |
| 15 Year Low Cost Fixed Rate | 5.890% | 5.901% |
| 15 Year Low Cost Fixed Rate | 6.290% | 6.342% |
| 15 Year Low Cost Fixed Rate | 5.840% | 5.866% |
| 15 Year Low Cost Fixed Rate | 5.890% | 5.896% |
| 10 Year Low Cost Fixed Rate | 5.790% | 5.805% |
| 5/1 ARM (30 year) Low Cost | 6.090% | 6.494% |
| 5/1 ARM (30 year) Low Cost | 6.590% | 6.717% |
| 5/1 ARM (30 year) Low Cost | 6.140% | 6.522% |
| 5/1 ARM (30 year) Low Cost | 6.090% | 6.490% |
| 3/1 ARM (30 year) Low Cost | 5.940% | 6.547% |
| 3/1 ARM (30 year) Low Cost | 6.440% | 6.701% |
| 3/1 ARM (30 year) Low Cost | 5.990% | 6.569% |
| 3/1 ARM (30 year) Low Cost | 5.940% | 6.543% |
| 5/1 ARM (15 year) Low Cost | 5.890% | 6.241% |
| 5/1 ARM (15 year) Low Cost | 6.390% | 6.583% |
| 5/1 ARM (15 year) Low Cost | 5.940% | 6.285% |
| 5/1 ARM (15 year) Low Cost | 5.890% | 6.235% |
| 3/1 ARM (15 year) Low Cost | 5.890% | 6.411% |
| 3/1 ARM (15 year) Low Cost | 6.390% | 6.655% |
| 3/1 ARM (15 year) Low Cost | 5.940% | 6.446% |
| 3/1 ARM (15 year) Low Cost | 5.890% | 6.405% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Fixed Rate | 6.090% | 6.099% |
| 30 Year Fixed Rate | 5.990% | 6.035% |
| 30 Year Fixed Rate | 5.990% | 6.012% |
| 30 Year Fixed Rate | 6.125% | 6.130% |
| 15 Year Fixed Rate | 5.590% | 5.606% |
| 15 Year Fixed Rate | 5.490% | 5.564% |
| 15 Year Fixed Rate | 5.490% | 5.527% |
| 15 Year Fixed Rate | 5.690% | 5.699% |
| 10 Year Fixed Rate | 5.440% | 5.484% |
| 10 Year Fixed Rate | 5.440% | 5.453% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Fixed Rate | 6.125% | 6.130% |
| 15 Year Fixed Rate | 5.690% | 5.699% |
| 10 Year Fixed Rate | 5.440% | 5.453% |
| 5/1 ARM (30 year) | 5.790% | 6.375% |
| 3/1 ARM (30 year) | 5.640% | 6.469% |
| 5/1 ARM (15 year) | 5.590% | 6.060% |
| 3/1 ARM (15 year) | 5.590% | 6.289% |
| Product | Rate | APR |
|---|---|---|
| 30 Year HomeReady Mortgage | 5.590% | 5.635% |
| 15 Year HomeReady Mortgage | 5.390% | 5.467% |
| Product | Rate | APR |
|---|---|---|
| 1 year Bridge Loan | 3.990% | 4.708% |
No Closing Costs Options More Info
Mortgages at today’s low rates without closing costs.
Third Federal's Low Cost Mortgages can save you thousands of dollars in closing costs. For a limited time, with our low cost option closing costs are $0 - a $495 discount. Low Cost Mortgages are available in:
- 10, 15 and 30-year fixed rate and Smart Rate mortgages
- Jumbo loans at discounted rates
Smart Rate Adjustable Mortgages More Info
Offers a lower interest rate than a fixed rate loan—typically more than 1% lower.
The Smart Rate Adjustable Rate Mortgage offers a lower interest rate than a fixed rate loan. This lower rate saves you about $12,000 over the first five years. After the initial fixed period, the interest rate adjusts based on an index and margin.
- 3/1 and 5/1 Smart Rates available
- Jumbo loans at discounted rates
- $495 low closing cost options available
- 15, and 30-year terms available
Rate Relock with Smart Rate Adjustable Mortgages
Our Rate Relock program gives you control to relock your rate for up to five more years anytime during the entire life of your loan. You can relock your rate for up to five additional years to the current 3/1 or 5/1 rate as often as you want, any time you want, saving you thousands of dollars compared to the cost of refinancing – no mortgage application or home appraisal is required. With Rate Relock, you'll never have to refinance again!
- Periodic rate cap +/-2%
- Lifetime rate cap of initial rate +6%
- Rate Relock--relock your rate to the current rate as often as you like
Bridge Loans More Info
Buy before you sell.
At Third Federal, you can still buy before you sell. Our bridge loan allows you to use the equity in your current home to bridge the gap to your new home.
- You can use the equity in your current home for the down payment on your new home.
- Eliminate your existing home payment, so you have only one payment while you're selling your current house.
- There are no principal or interest payments on your bridge loan for up to 12 months.
- No application fee, cancellation fee or prepayment penalty.
For more information, call our Customer Care Department at 1-800-THIRD-FED (844-7333).
Community Development Lending More Info
Third Federal helps communities thrive.
Third Federal's HomeReady Mortgage product helps homebuyers put as little as 3% down and get up to $13,000 in down payment assistance.
Third Federal Advantage
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