OT - Anybody refiance with ThirdFederal Savings & Loan
- Thread starter 4INSBU
- Start date
No, but I've heard good things about the Bailey Brother's Building & Loan. Ain't that right, Mr. Potter?
Third Fed is a good company. They are a traditional "Savings and Loan" that has concentrated on long term savings instruments to fund their mortgage loan business. They used to be a "mutual" who operated more like a credit union instead of a public company (they are now a mix of mutual and public). What is nice about them, unlike a company like Quicken Loans or many of the online businesses, if you have an issue you can actually go to a Third Fed location and sit down with someone to work it out.
Third Fed's model is to give good rates and a low entry level cost. But their model is to rip you a new one if you are late on your payments. Its the cost of keeping rates down. As long as you comply with the strict terms and conditions of your mortgage, they are a great company.
Dollar Bank has a similar model.
Third Fed's model is to give good rates and a low entry level cost. But their model is to rip you a new one if you are late on your payments. Its the cost of keeping rates down. As long as you comply with the strict terms and conditions of your mortgage, they are a great company.
Dollar Bank has a similar model.
RE: "only $295 due at closing" - I'm stating the obvious, but that means the closing costs are rolled into your loan.
...could be MIP(mortgage insurance premium), appraisal, title search and insurance, title prep and recording charges, title endorsements, mortgage document prep charges, lender escrow requirements for taxes and insurance, property inspection, radon inspection, termite inspection, water testing, sewer testing, credit report, payoff charges for current mortgage, etc., etc. ...take your pick.... 
