Fixed Rate
With a our Fixed Rate Home Mortgage, your monthly principal and interest payment are fixed for the life of your loan. It makes managing your money simpler because this element of your monthly budget always stays the same.

Third Federal Fixed Rate Mortgage benefits:

• Standard 60-day rate lock.
• 240-day rate lock available.
• No PMI options with less than 20% down.
• Same low fixed rates and terms for condos.

Hybrid Rate
These loans offer lower rates and lower payments for a full 3 or 5 years. Plus, you have the flexibility to convert to a fixed rate loan – AT NO COST.

Third Federal Hybrid Rate Mortgage benefits:

• Lower monthly payments for 3 or 5 years – A 5 year, $165,000 ARM will save you about $50 to $100 per month compared to our 30-year fixed rate mortgage.
• Lower locked rate for a full 3 or 5 years – usually 1% below our 30-year fixed rate mortgage

Interest-Only Loans
These loans can lower your monthly payment by hundreds of dollars. And because there is no prepayment penalty, you can make principal payments during the interest-only period.

Third Federal Interest-Only Mortgage benefits:

• Lower payments - A 5 year, $200,000 Interest-Only ARM will save you about $350 per month compared to our 30-year fixed rate mortgage.
• Lower Rates - Usually about 1/4% lower than interest-only loans offered by other lenders.
• Guaranteed Rate - Your rate is fixed for as long as 5 years. Other lender rates could start going up after the first month.
• No Prepayment Penalty.
• Available on 1, 3 and 5 year ARMs.

No-Cost Loans
A mortgage with no costs - no points, no application fee, no appraisal fee , no processing fee, no credit report fee and no lender costs. That’s a savings of about $2,000 right up front for most homebuyers. And, you only need 5% down.

Third Federal No-Cost Mortgage benefits:

• No points or credit report fee
• No application or processing fee
• No buyer's closing costs or appraisal fees
• Save around $2,000 upfront
• Only 5% down

Construction
Our Home Construction/Permanent Loan allows you to arrange both the construction loan and permanent mortgage financing for your new home in a single transaction.

Third Federal Construction Loan benefits:

• Rate is locked in at time of application – not when the home is completed. So you don’t have to worry about rising rates.
• Your rate stays locked for as long as 12 months while your home is being built - Other lenders don't offer this kind of protection.
• You can select either a fixed rate or adjustable rate mortgage.
• Six draws.
• No second closing, so you save money.
• Lot loan programs available – ask Third Federal for details.

Bridge Loans
At Third Federal, you can still buy before you sell. Our Bridge Loan allows you to defer payments on your current house - leaving only the payment on your new home. So you don't have to worry about more than one mortgage payment while you're selling your old house.

Third Federal Bridge Loan benefits:

• No Application Fee
• No payment for up to 12 months, giving you more time to sell your home - most other lenders give you six months or less!
• No prepayment penalty
• Rate is locked in at time you apply
• Simple application process
• Up to 85% loan-to-value
• Borrow up to $250,000 with ample equity and approved credit