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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
  • 3/1 & 5/1 Smart Rates available
  • Rate Relock (relock your rate as often as you like)
  • No PMI with 85% loan to value
  • Jumbo loans at discounted rates
  • $295 low closing cost options available
  • 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 $295 in closing costs (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
  • Jumbo loans at discounted 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 Closing Cost options available
  • Get a historically low rate
  • Shorten your mortgage with a similar monthly payment
  • 10-year Smart and Fixed Rates

 

Smart Rate Adjustable Northeast Ohio
Mortgage RefinancePurchase Mortgage
 RatesAPR
5/1 (30 Yr)2.65%3.13%
5/1 (15 Yr)2.54%2.99%
5/1 (10 Yr)2.49%2.89%
3/1 (30 Yr)1.99%3.06%
3/1 (15 Yr)1.99%2.92%
3/1 (10 Yr)1.99%2.81%
Change State >
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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 Cost2.99%3.03%
10 Year 2.59%2.81%
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.

 

 

 

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
  • Avaialble on all 3/1 & 5/1 Smart Rates
  • $295 low closing cost options available

 

 

 

 

 

 

 

Vacation Homes
Let Third Federal help you finance a vacation home.

  • Competitive rates
  • Standard 60-day rate lock
  • 240-day extended rate lock
  • 3/1 & 5/1 Smart Rate Adjustable Mortgages
  • 10-year fixed rate mortgages
  • $295 Low Closing Cost options available
  • Up to 70% loan to value

 

TF Community Mortgage
The TF Community Mortgage offers great benefits for low to moderate income borrowers.

  • Free home buyer education and counseling-
    pre-purchase home buyer education and counseling through the various community partners allows Third Federal to offer flexible underwriting options.
  • Low interest rates
  • Low down payments -- put as little as 5% down
  • 15 & 30-year fixed rate mortgages

 

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 2.59%2.81%
15 Year3.29%3.44%
30 Year4.15%4.24%
Change State >
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Jumbo Loan Rates Northeast Ohio
Mortgage RefinancePurchase Mortgage
Change State >
More Rates    Apply    Disclosures & Licenses