Mortgage Refinancing with Third Federal
Refinance Your Home with Third Federal
Whether you are looking to reduce your monthly payment, pay off your home sooner, or use the equity in your home, refinancing with Third Federal makes sense. We offer several low-rate refinance options, where closing costs can be as little as $495.
Third Federal Mortgage Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 5/1 ARM (30 year) | 6.090% | 6.975% |
| 5/1 ARM (15 year) | 5.990% | 6.658% |
| 3/1 ARM (30 year) | 5.890% | 7.120% |
| 3/1 ARM (15 year) | 5.790% | 6.876% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Low Cost Fixed Rate | 7.090% | 7.122% |
| 30 Year Low Cost Fixed Rate | 6.640% | 6.656% |
| 30 Year Low Cost Fixed Rate | 6.590% | 6.596% |
| 30 Year Low Cost Fixed Rate | 6.590% | 6.594% |
| 15 Year Low Cost Fixed Rate | 6.540% | 6.592% |
| 15 Year Low Cost Fixed Rate | 6.090% | 6.115% |
| 15 Year Low Cost Fixed Rate | 6.040% | 6.050% |
| 15 Year Low Cost Fixed Rate | 6.040% | 6.046% |
| 10 Year Low Cost Fixed Rate | 6.440% | 6.513% |
| 10 Year Low Cost Fixed Rate | 5.990% | 6.005% |
| 5/1 ARM (30 year) Low Cost | 6.890% | 7.282% |
| 5/1 ARM (30 year) Low Cost | 6.440% | 7.084% |
| 5/1 ARM (30 year) Low Cost | 6.390% | 7.054% |
| 5/1 ARM (30 year) Low Cost | 6.390% | 7.051% |
| 5/1 ARM (15 year) Low Cost | 6.790% | 7.118% |
| 5/1 ARM (15 year) Low Cost | 6.340% | 6.819% |
| 5/1 ARM (15 year) Low Cost | 6.290% | 6.774% |
| 5/1 ARM (15 year) Low Cost | 6.290% | 6.768% |
| 3/1 ARM (30 year) Low Cost | 6.690% | 7.316% |
| 3/1 ARM (30 year) Low Cost | 6.240% | 7.180% |
| 3/1 ARM (30 year) Low Cost | 6.190% | 7.158% |
| 3/1 ARM (30 year) Low Cost | 6.190% | 7.153% |
| 3/1 ARM (15 year) Low Cost | 6.590% | 7.177% |
| 3/1 ARM (15 year) Low Cost | 6.140% | 6.968% |
| 3/1 ARM (15 year) Low Cost | 6.090% | 6.933% |
| 3/1 ARM (15 year) Low Cost | 6.090% | 6.926% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Fixed Rate | 6.290% | 6.335% |
| 15 Year Fixed Rate | 5.740% | 5.814% |
| 10 Year Fixed Rate | 5.640% | 5.745% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Fixed Rate | 6.250% | 6.263% |
| 15 Year Fixed Rate | 5.940% | 5.961% |
| 10 Year Fixed Rate | 5.640% | 5.671% |
| 5/1 ARM (30 year) | 6.090% | 6.942% |
| 5/1 ARM (15 year) | 5.990% | 6.605% |
| 3/1 ARM (30 year) | 5.890% | 7.086% |
| 3/1 ARM (15 year) | 5.790% | 6.823% |
| Product | Rate | APR |
|---|---|---|
| 30 Year HomeReady Refinance | 5.890% | 5.890% |
| 15 Year HomeReady Refinance | 5.540% | 5.540% |
Benefits to Refinancing Your Mortgage
Lower your monthly payment
If you have just a few years remaining on your current mortgage, refinancing into a longer term can reduce your payment.
Consolidate high-interest debt
Because of its low interest rates, refinancing your mortgage can be an efficient way to pay off other higher interest debts, resulting in a much lower monthly payment.
Access the equity in your home
A cash-out refinance is a great way to finance major expenses like home improvements, education expenses, or a new car. With a cash-out refinance, you get money back from the lender in excess of the amount previously owed.
Eliminate PMI
Federal law requires that private mortgage insurance, PMI, payment be eliminated from your mortgage when your loan-to-value reaches 78% based on amortization. As your home appreciates over time you can often eliminate PMI by refinancing.
Third Federal Advantage
Variety of Mortgage Loan Types More Info
Available options include traditional fixed rate loans and adjustable-rate loans
Providing you with the best mortgage loans available, Third Federal offers both fixed rate loans and Smart-Rate adjustable loans, from five to 30 year loans.
- Fixed Rate Mortgage Loans
- Monthly payments that do not change
- 30, 15 and 10-year terms available
- You can choose either a full cost or low-cost mortgage.
- We do not charge a prepayment penalty for early payoffs!
- Smart Rate Adjustable Loans
- Lower interest rate than a fixed rate loan
- After the initial fixed period, the interest rate adjusts based on an index and margin.
- Our Rate Relock feature 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 as often as you want, anytime you want, which saves you thousands of dollars compared to the cost of refinancing - with no mortgage application or home appraisal required!
*Relock term is determined by initial fixed term.
Community Development Lending More Info
Third Federal offers HomeReady refinance products at competitive rates.
Looking to refinance? Our HomeReady mortgage refinance has no closing costs and rates are about 2.00% APR lower than other refinance programs. Learn more about our Third Federal Community Development Loans and Programs.
Low Closing Cost Options More Info
Available for fixed rate and adjustable-rate mortgages
It can be shocking to see huge closing costs at the end of the refinance process with some lenders. That won't happen at Third Federal, where closings costs are as low as $495 on all fixed rate and Smart Rate adjustable products.
Free 60-day Standard Rate Lock More Info
Third Federal understands you’re busy. That’s why we offer a 60-day rate lock. (Twice the time compared to most other lenders.)
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.
We Service 100% of our Conforming Loans More Info
That means you'll have one place to send your mortgage payments and one number to dial for service.
Many lenders will transfer your loan to another mortgage company, who may transfer it to another and so on, and so on. 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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Our Rate Relock feature rocks!
It allows you to relock your rate to our current rate without the hassle of a traditional refinance.
Learn MoreLearn more about rate relock
