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Bank Owned Properties
Smart Rate 5/1 Adjustable Mortgage

Smart Rate Adjustable Mortgages with Rate Relock

The Smart Rate Adjustable Rate Mortgage offers an interest rate lower than that of a fixed rate loan, typically more than 1% lower. This lower rate saves you about $12,000* over the first five years. After that, the interest rate adjusts to the Prime Rate once per year. You are not charged a margin or markup.

Our Rate Relock gives you control to relock your rate for five more years anytime during the entire life of your loan. You can relock your rate for another five years to the current five year rate as often as you like, any time you like, saving you thousands of dollars compared to the cost of refinancing. And no mortgage application or home appraisal is required. Rate Relock even allows you to relock your rate every five years so that you’re never without a five-year fixed rate commitment. With Rate Relock, you'll never have to refinance again!

 

Smart Rate Adjustable Mortgages
  • Rate Relock (relock your rate as often as you like)
  • No PMI with 85% loan to value
  • Jumbo loans at regular rates
  • 10, 15 and 30-year terms available
  • Indexed to the Prime Rate (no margin or markup)
  • Periodic rate cap +/-2%
  • Lifetime rate cap of initial rate +6%

>> See How Much You Can Save




 

 

 

 

$295 Low Cost Mortgages
Imagine if you could get a mortgage at today’s low rates and not worry about closing costs . With our new Low Cost Mortgages, you can because you only pay a low $295 closing fee (FL borrowers pay doc stamps & intangible tax). All other closing costs are paid by us, saving you thousands of dollars. And the interest rate is typically lower than what other lenders charge for their full closing cost loans.

No PMI with 85% loan to value options
  • Jumbo loans at regular rates
  • 10, 15 and 30-year terms available
  • For loan amounts of $50,100-$109,999, click here for rates
  • For loan amounts of $417,001-$1,000,000, click here for rates
  • >> See How Much You Can Save

     


     

     

    10-Year Mortgages
    Why pay a mortgage any longer than you have to? With interest rates near an all time low, homeowners are taking advantage and refinancing again with Third Federal's 10-Year Mortgage.  With our 10-Year Mortgage, for about the same monthly payment you have today, you may be able to shorten your mortgage and pay it off faster. 

    No PMI with 85% loan to value
  • About 1/2% lower than the typical 15-year fixed rate
  • Available on loan terms 6-10 years
  • $295 Low Cost option available
  • Get a historically low rate
  • Shorten your mortgage with a similar monthly payment
  • 10-year Smart Rates
    • Rate Relock - relock your rate as often
      as you like
    • Jumbo loans at regular rates
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    Smart Rate Adjustable Northeast Ohio
    Mortgage RefinancePurchase Mortgage
     RatesAPR
    5/1 (30 Yr)2.65%3.11%
    5/1 (15 Yr)2.44%2.91%
    5/1 (10 Yr)2.44%2.81%
    3/1 (30 Yr)1.99%3.04%
    3/1 (15 Yr)1.95%2.88%
    3/1 (10 Yr)1.89%2.72%
    Change State >
    More Rates    Apply    Disclosures & Licenses

     

    Low Cost Mortgages Northeast Ohio
    Mortgage RefinancePurchase Mortgage
    Change State >
    More Rates    Apply    Disclosures & Licenses

     

    10-Year Fixed Rate Northeast Ohio
    Mortgage RefinancePurchase Mortgage
     RatesAPR
    10 Year Low Cost2.89%2.93%
    10 Year 2.49%2.67%
    Change State >
    More Rates    Apply    Disclosures & Licenses

     

     

     

     

    Fixed Rate Mortgages
    With our Fixed Rate Home Mortgage, your monthly principal and interest payment are fixed for the life of your loan.

    • Standard 60-day rate lock
    • 240-day rate lock available
    • 30, 15 and 10-year terms available
    • Same low fixed rates for condos
    • $295 low cost options

     

     

     

     

     

     

    Jumbo Loans
    Most banks charge more for bigger loans -- it's not fair. At Third Federal, we don't charge higher rates for jumbo loans, in fact we discount them.
    • Jumbo loans over $417,000 receive a rate reduction

     

     

     

     

     




    Bridge Loans
    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.

    • No application deposit
    • Our unique program allows you up to 12 months to sell your home before repaying the principal and interest on your Bridge Loan.

    For more information on our Bridge Loan, including today's rate, call our Customer Service Department at
    1-800-THIRD-FED (844-7333).

     

    Fixed Rate Northeast Ohio
    Mortgage RefinancePurchase Mortgage
     RatesAPR
    10 Year 2.49%2.67%
    15 Year3.49%3.64%
    30 Year4.49%4.58%
    Change State >
    More Rates    Apply    Disclosures & Licenses

     

     

     
    Jumbo Loan Rates Northeast Ohio
    Mortgage RefinancePurchase Mortgage
    Change State >
    More Rates    Apply    Disclosures & Licenses