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Third Federal Mortgage
in Home Purchase Mortgages from Third Federal
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Third Federal Mortgage

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in Home Purchase Mortgages from Third Federal
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Highlights
Loan Amount N/A
Loan Term (Years) 10 - 30 years
Credit Score Range Starting at 620
No Origination Fee N/A

Third Federal Mortgage Review

Third Federal Mortgage is offered by Third Federal, a direct lender founded in 1938 and based in Cleveland, OH. Third Federal Mortgage is available in 2 states across the USA.

Key Takeaways
  • Instant online preapprovals. Find out how much you can borrow and what your interest rate will be.
  • Only offers one mortgage pogram. Third Federal Mortgage only provides jumbo mortgages.
  • Financing for a variety of property types. Offers home loans for manufactured, single, and multi-family homes.
  • Standard interest rates types. Third Federal Mortgage offers adjustable-rate mortgages and fixed-rate mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Charges a prepayment fee. This means you will be charged an additional fee if you repay the mortgage early.
  • Maximum LTV. Third Federal Mortgage has a maximum loan to value ratio of 80%.
  • Cosigner and coborrower applications accepted. A cosigner or coborrower can help you qualify for better rates and terms when applying for Third Federal Mortgage.
  • Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Third Federal Mortgage.
Third Federal Mortgage Pros & Cons
Pros Cons
  • Considers applicants with fair credit.
  • Offers financing for single family, multi-family, and manufactured homes.
  • Charges an origination fee.
  • Charges prepayment fees.
  • Only available in 2 states.
Third Federal Mortgage FAQ

What is the maximum loan term you can get with Third Federal Mortgage?

Third Federal Mortgage offers mortgages with terms ranging from 10 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

What mortgage rates does Third Federal offer?

Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.

Does Third Federal Mortgage charge an application fee?

No, they don't charge an application fee. However, the cost of the loan process is most likely included elsewhere in the closing costs.

Do they charge mortgage origination fees?

Yes, Third Federal Mortgage may charge a loan origination fee.

What mortgage programs are available?

Besides conventional mortgages, Third Federal Mortgage offers the following mortgage types:

  • Jumbo loans: Any mortgage with a loan amount above the conforming loan limits set by the Federal Housing Finance Agency ($548,250 as of 2021).

What property usage types does Third Federal Mortgage allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Third Federal Mortgage allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

What is the customer service phone number?

The customer service number for Third Federal Mortgage is (180) 084-47333.

What is the support contact email?

The support contact email for this business credit card is info@thirdfederal.com.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Contact

Hours of Operation

  • Sunday Closed
  • Monday 9:00am - 4:00pm
  • Tuesday 9:00am - 4:00pm
  • Wednesday 9:00am - 4:00pm
  • Thursday 9:00am - 4:00pm
  • Friday 9:00am - 6:00pm
  • Saturday 9:00am - 1:00pm

About Third Federal Mortgage

Availability

  Available in 2 states
  • Florida
  • Ohio

Feature Breakdown

Credit Score Range 620 -
Employment Statuses Considered
  • Other
  • Employed Full-Time
  • Employed Part-Time
  • Self-Employed
  • Retired
Intended Use
  • Primary Home
  • Secondary Home
  • Investment
Joint Loan Applications Accepted
  • Co-borrower
  • Cosigner
  • Individual Applications
Maximum LTV 80%
Minimum Age 18
Minimum Down Payment Starting at 5%
Property Type
  • Single Family Home
  • Townhome
  • Multi-Family Home
  • Manufactured/Mobile Home
Verification Documents Required
  • Driver License (or other photo ID)
  • Recent Pay Stubs
  • U.S. Tax Identification Number
  • Recent Bank Statements
  • Social Security Number
Investment
Primary Residence
Mortgage Features
  • Cash-Out Refinance
  • Instant Online Preapproval
Loan Term 10 - 30 years
Interest Rate Types Offered
  • Fixed-Rate Mortgage
  • Adjustable-Rate Mortgage (ARM)
Mortgage Programs Jumbo

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