GENERAL INFORMATION ON MORTGAGES

Can I change the loan amount or loan type for my preapproval?
Yes. Please contact your loan administrator for assistance.
Thu, 20 Feb, 2020 at 2:29 PM
Do you offer bi-weekly mortgage payments?
Third Federal does not offer a bi-weekly payment option on our mortgage loans.  Additional principal payments may be made any time after your regular monthl...
Thu, 3 Mar, 2022 at 9:57 AM
Do you have any programs for first time home buyers?
We have a program tailored for First Time Home Buyers. It includes home buying seminars and a home buyer guide.  A Third Federal preapproval will give y...
Thu, 29 Feb, 2024 at 10:45 AM
Does Third Federal charge any prepayment penalties?
None of the loan programs we offer have penalties for prepayment. You can pay off your mortgage any time with no additional charges.
Fri, 21 Feb, 2020 at 1:31 PM
Does Third Federal have "No Cost" or "Low Cost" mortgage options?
We offer a "Low Cost" option on all our Smart Rate Adjustable Mortgages.  For a flat fee of $395 - $ 595 depending on the state where the property...
Wed, 6 Nov, 2024 at 4:08 PM
Does Third Federal offer Interest Only Loans?
No, Third Federal does not offer Interest Only Loans.
Fri, 21 Feb, 2020 at 1:33 PM
How should the mortgagee clause on the insurance document be completed?
Any documentation that includes the mortgagee clause should be as follows:   Third Federal Savings and Loan Association of Cleveland ISAOA/ATIMA P.O. B...
Mon, 19 Apr, 2021 at 2:12 PM
I want to change my loan type before closing. What can I do?
If you have decided to change loan programs, contact your Loan Administrator to discuss your options.
Fri, 21 Feb, 2020 at 1:34 PM
Is comparing APRs the best way to decide which lender has the lowest rates and fees?
The Federal Truth in Lending Act requires that all financial institutions disclose the Annual Percentage Rate (APR) when they advertise a rate. The APR is d...
Fri, 21 Feb, 2020 at 1:36 PM
Is there a fee charged to submit an online application?
There is no fee for a preapproval application. You may be charged an application fee for purchases and refinances, depending on the mortgage product you...
Fri, 21 Feb, 2020 at 1:38 PM