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