Mortgage Refinancing with Third Federal
Mortgage Refinance with Third Federal
Did you know we offer several low-rate refinance options, where closing costs can be as little as $495. 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.
Third Federal Mortgage Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 5/1 ARM (30 year) | 6.190% | 7.014% |
| 5/1 ARM (15 year) | 6.090% | 6.718% |
| 3/1 ARM (30 year) | 5.990% | 7.146% |
| 3/1 ARM (15 year) | 5.890% | 6.917% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Low Cost Fixed Rate | 7.190% | 7.223% |
| 30 Year Low Cost Fixed Rate | 6.740% | 6.756% |
| 30 Year Low Cost Fixed Rate | 6.690% | 6.696% |
| 30 Year Low Cost Fixed Rate | 6.690% | 6.694% |
| 15 Year Low Cost Fixed Rate | 6.640% | 6.692% |
| 15 Year Low Cost Fixed Rate | 6.190% | 6.216% |
| 15 Year Low Cost Fixed Rate | 6.140% | 6.150% |
| 15 Year Low Cost Fixed Rate | 6.140% | 6.146% |
| 10 Year Low Cost Fixed Rate | 6.540% | 6.613% |
| 10 Year Low Cost Fixed Rate | 6.090% | 6.105% |
| 5/1 ARM (30 year) Low Cost | 6.990% | 7.323% |
| 5/1 ARM (30 year) Low Cost | 6.540% | 7.124% |
| 5/1 ARM (30 year) Low Cost | 6.490% | 7.094% |
| 5/1 ARM (30 year) Low Cost | 6.490% | 7.091% |
| 5/1 ARM (15 year) Low Cost | 6.890% | 7.179% |
| 5/1 ARM (15 year) Low Cost | 6.440% | 6.879% |
| 5/1 ARM (15 year) Low Cost | 6.390% | 6.834% |
| 5/1 ARM (15 year) Low Cost | 6.390% | 6.829% |
| 3/1 ARM (30 year) Low Cost | 6.790% | 7.343% |
| 3/1 ARM (30 year) Low Cost | 6.340% | 7.206% |
| 3/1 ARM (30 year) Low Cost | 6.290% | 7.184% |
| 3/1 ARM (30 year) Low Cost | 6.290% | 7.180% |
| 3/1 ARM (15 year) Low Cost | 6.690% | 7.218% |
| 3/1 ARM (15 year) Low Cost | 6.240% | 7.008% |
| 3/1 ARM (15 year) Low Cost | 6.190% | 6.973% |
| 3/1 ARM (15 year) Low Cost | 6.190% | 6.967% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Fixed Rate | 6.390% | 6.436% |
| 15 Year Fixed Rate | 5.840% | 5.914% |
| 10 Year Fixed Rate | 5.740% | 5.845% |
| Product | Rate | APR |
|---|---|---|
| 30 Year Fixed Rate | 6.250% | 6.263% |
| 15 Year Fixed Rate | 5.940% | 5.961% |
| 10 Year Fixed Rate | 5.740% | 5.771% |
| 5/1 ARM (30 year) | 6.190% | 6.982% |
| 5/1 ARM (15 year) | 6.090% | 6.665% |
| 3/1 ARM (30 year) | 5.990% | 7.112% |
| 3/1 ARM (15 year) | 5.890% | 6.863% |
| Product | Rate | APR |
|---|---|---|
| 30 Year HomeReady Refinance | 5.990% | 5.990% |
| 15 Year HomeReady Refinance | 5.640% | 5.640% |
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
Low Closing Cost Options More Info
Because you shouldn’t need a loan to close one.
Borrowers are often shocked by huge closing costs at the end the refinance process. That won’t happen at Third Federal. We offer $495 closing costs on all Smart ARMs and 10-year fixed refinances. We also offer lower closing costs on other loan products.
Smart Rate Adjustable Mortgages More Info
Relock for an additional three or five years without a new application, or home appraisal.
The Third Federal Smart Rate mortgage offers a lower interest rate than a fixed rate loan. After the initial fixed period, the interest rate adjusts. 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.
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.
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.
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
