Third Federal Savings & Loan 5 Year Adjustable Mortgage Rates at 2.99 Percent

You probably have read recently how low current mortgage rates are but did you realize you can get a 5 year adjustable mortgage rate as low as 2.40 percent? Third Federal Savings & Loan mortgage rates on their 5 year adjustable loan rates are currently available at 2.99 percent with zero mortgage points.

Take note, however, that there is some risk involved in getting an adjustable rate mortgage instead of a fixed rate mortgage - from any lender. With an adjustable rate, the interest rate changes after the initial fixed period. In this example, the mortgage product is a 5 year ARM, meaning that the rate is fixed for the first 5 years and then adjusts each year after.

Loan Type
Purchase    Refinance
Location
State/City    Zip Code
Loan Amt Points FICO % Down
  
$
in 23223, All points, 740    Sort by:
Lender
APR
Rate
Cost & Fees
Notes
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.660%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 2.000 pts
45 day lock rate
Est payment: $1,348
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.073%
3.990%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 1.000 pts
45 day lock rate
Est payment: $1,431
Fees in APR: $3,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.500%
4.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 0.000 pts
45 day lock rate
Est payment: $1,521
Fees in APR: None
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.353%
3.250%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 1.250 pts
30 day lock rate
Est payment: $1,306
Fees in APR: $3,903
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
3.660%
3.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 2.000 pts
45 day lock rate
Est payment: $1,348
Fees in APR: $6,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.073%
3.990%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 1.000 pts
45 day lock rate
Est payment: $1,431
Fees in APR: $3,000
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.281%
3.125%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 2.000 pts
30 day lock rate
Est payment: $1,286
Fees in APR: $5,961
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.524%
3.500%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 0.250 pts
30 day lock rate
Est payment: $1,348
Fees in APR: $903
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.750%
3.750%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 0.000 pts
30 day lock rate
Est payment: $1,390
Fees in APR: ($153)
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 
PERIOD_FIXED_30YEARS Mortgage Loan from Quicken Loans NMLS #3030
Quicken Loans NMLS #3030
https:https://mortgagerates.icanbuy.com/images/lenderslogos/111724.gif
300000
Purchase
4.500%
4.500%
USD
Quicken Loans NMLS #3030 Logo
NMLS # 3030
08/18/2019
at 0.000 pts
45 day lock rate
Est payment: $1,521
Fees in APR: None
The Better Business Bureau gives Quicken Loans and A+ for customer service.
 
PERIOD_FIXED_30YEARS Mortgage Loan from AimLoan.com
AimLoan.com
https:https://mortgagerates.icanbuy.com/images/lenderslogos/112335.gif
300000
Purchase
3.430%
3.375%
USD
AimLoan.com Logo
NMLS # 2890
State Lic # MC-3098
08/18/2019
at 0.750 pts
30 day lock rate
Est payment: $1,327
Fees in APR: $2,085
Internet direct lender since 1998. View rates & fees, apply/lock online 24/7
 

Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click here for more information on rates and product details.





For the most part, there are annual caps and lifetime caps on how high the mortgage rate can increase. In this case, the interest rate is fixed at 2.99 percent for the first 5 years and then the rate can move higher based on where prevailing interest rates when the fixed period ends.

In addition to a 5 year adjustable mortgage, Third Federal also offers 3/1 ARMs as well as fixed mortgages with terms of 10, 15 and 30 years. The bank also offers jumbo mortgage loans with adjustable terms of 3 years and 5 years. Third Federal Savings and Loan mortgages are not available in all states, only the states listed below.

Third Federal Savings and Loan Mortgages are Available in these States

California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kentucky, Maryland, Massachusetts, Missouri, New Hampshire, New Jersey, New York, North Carolina, Ohio, Oregon, Pennsylvania, Tennessee, Virginia, Washington, and Washington, D.C.

Third Federal Mortgage Loans Benefits

  • 60-Day Standard Mortgage Rate Lock

  • 240-Day Extended Mortgage Rate Lock

  • Shop 'n Lock - You can lock into today's record low mortgage rates rates at preapproval

  • Match 'n Lock - Find a purchase rate even lower than Third Federal they will match it and lock the rate for you

  • Jumbo Loans At Discounted Rates - Third Federal doesn't mark-up jumbo loan rates. In fact, their Smart Rate Loans $417,000 to $1,000,000 actually receive a discount.

  • When Buying a Home Third Federal will refund your application deposit if you're not approved for a loan


Besides mortgage loan products Third Federal also offers home equity products. The bank's home equity loans have the following benefits.

  • No closing costs, prepayment penalties or minimum draw requirements on home equity loans

  • Up to 10 year draw period

  • Balanced monthly payments

  • Historically low interest rates

  • Annual fee is waived the first year

  • Borrow up to 80% of the equity in your home

  • Available line amounts from $10,000 to $150,000

  • Make additional payments at any time without penalty


Home equity loans are offered in the following 22 states. CA, CO, CT, DC, FL, GA, IL, IN, KY, MA, MD, MO, NH, NJ, NY, NC, OH, OR, PA, TN, VA, and WA

 

  • Pay less interest.  Average savings of $8,0001

  • No closing costs, prepayment penalties or minimum
    draw requirements

  • Up to 10 year draw period2

  • Balanced monthly payments

  • Deduct 100% interest from taxes3

  • Historically low rates

  • Build equity faster


Plus:

  • Annual fee is waived the first year4

  • Competitive variable interest rates on all line amounts

  • Borrow up to 80% of the equity in your home

  • Available line amounts from $10,000 to $150,000

  • Make additional payments at any time without penalty

  • Easy access to funds

Author: Brian McKay
December 28th, 2014