Third Federal Savings & Loan Broadway Ave, Cleveland

Fantastic mortgage experience. First time home buyer in 2022 and worked with the Hind. My closing agent and realtor had never worked with anyone at ThirdFederal and they were very impressed. "The most thorough and responsive" they had dealt with. I agree - thorough, responsive, friendly, helpful...even funny. I look forward to working with them again. THANK YOU!

Does it even sound like a good idea to skip over First or Second Federal? I had them reject my mortgage three weeks out from closing after working with them for a month and after they took over $600 in fees and rate locks. Never got a dime back. Kinda thinking this place is just a scam.

I am new to town and looking for a banking institution to work with. After reading these horrible stories/reviews.........."Run Forest Run" about as fast as i can. And word always gets around!!!! And they don't deserve that star.

What you are about to hear about this place comes from a former customer of this bank. If you are looking for a home mortgage or to refinance your property, you should absolutely stay away from this place. They do not honor the features that they promote all over their website. I originally applied for a home mortgage here back in August of 2020. Their website promoted a 240 day rate lock option – which was posted on their website, within the loan application, and in the packet of papers that I received from them in the mail after I applied. A few weeks after I applied I found out that they were no longer offering the 240 day rate lock even though it was being actively promoted in all of the aforementioned spots. This feature is perfect if you are building a new construction house and want to lock in your rate for the duration of the build. I argued with them until I had enough and finally had to file a complaint with the BBB – only until then would they offer the feature that they were still actively promoting. My previous mortgage was with them, so I was even a former customer and I was still being treated terribly. They also advertise what they call “low cost” closing cost loans which in turn for lower closing costs you get a slightly higher interest rate. Take a look at their website, it states right there “$295 closing costs” yet they don’t clearly tell you that you have to pay the transfer taxes, which could be thousands of dollars for you. These are considered closings costs, so again very deceitful with the information they show you online. The loan officer that I was working with wouldn’t even call me by my correct first name. I have several emails from the guy where he is calling me by some totally random name. Unbelievable. Early in 2021 I found a competitor that offered a better rate than Third Federal. The competitor’s offer matched everything that they list out in their disclosures for their “lowest rate guarantee”. Right from their disclosures: “Third Federal will provide you with the lowest purchase mortgage rate on a similar mortgage of any licensed lender or pay you $1,000. A similar mortgage must be for the same property, term, product type, discount points, mortgage loan amount, and loan to value with the same or lower total closing costs and APR”. I provided them with an official good faith estimate from a competitor that was for the same property, the same term, the same product type, the same discount points, the same mortgage loan amount, and the same loan to value. I am being told that the products are not the same. How are they not the same? No one can tell me. They have refused to provide me with the lowest purchase mortgage rate and they are refusing to pay me $1000. In fact, to add insult to injury they have informed me that I have to pay an additional “application fee” of $325 because I have requested the rate match. There is nowhere in their disclosures where they tell you this because it doesn’t exist. This application fee is 100% arbitrary and is in addition to their $295 closing cost origination charge. The way that I have been treated by this company has been totally unacceptable. Stay away, you will be better off.

NOT SURE WHO IS DOING UNDERWRITING AT THIRD FEDERAL THESE DAYS. BUT I AM A CUSTOMER FOR OVER 22 YEARS WITH OVER A 800 CREDIT SCORE AND 3 PAID OFF LOANS WITH THIRD FEDERAL AND I GOT TURNED DOWN FOR A HOME EQUITY LOAN LOAN THAT WOULD BE LESS THAN 50% OF THE VALUE OF MY HOME TODAY

Been waiting over 2 months to get a HELOC done. Now this is not as big a problem as some listed below but I wish I read this before I even applied with his bank. Fearful I will be another review like these guys. Im nervous to do business with them but Im too far into the process now. Judging by the speed at which this bank gets things done, Im starting to believe these negative reviews below me.

Unfortunately, I found them to be dishonest. I was trying for a HELOC and was very upfront with my financial situation and what I was trying to do. I did not want to waste my time or have my credit pulled if this was not going to work out. Needless to say, they told me what I needed to hear to get me to apply, and then the reality was my credit score of above 700 even with enough cash assets to pay my debt myself, and the collateral of my home was not good enough for a HELOC with them. In fact, they used an automated appraisal that valued my home at the same price mobile homes are selling for. This home is completely updated so it is not a fixer-upper and homes like it have sold for over a $100,000 more than what this automated appraisal was. I was later told this appraisal was not really complete but yet they still made a decision based on that and my credit score not being high enough in the 700s for a HELOC. Debt-to-income was fine. I was very disappointed because they wasted my time but after reflecting on it and reading these reviews, I dodged a bullet. If a business is not honest, doesn't respect your time, or even care enough about you to think about how their actions will affect you, it is best not to deal with them. Edited to respond to the response from the company: I appreciate the response. I am a reasonable person and I have already spoken to a manager at this branch. Though it was not the branch manager who I was promised a call from. I do not leave a review until a situation has played out to its conclusion. I also want to add that this decision was made before they even asked for any documentation so this whole application could have been avoided if they had been honest about their credit threshold being somewhere higher than mine was in the 700s.

One star is generous I would give negative 5 if I could. As the old saying goes you get what you pay for. Everyone you deal with is clueless, unhelpful, rude, and talk down to you. Will lose your payments to charge you late fees. Literally the worst company I have ever dealt with. Make sure you open every piece of mail and look for hidden charges or a higher payment than usual. It is like a part time job trying not to get ripped off by them.

If you are looking for a HELOC. Do not apply here. I have a credit score of 766 across all three bureaus, own my own business with a very good income and have all the other good grades needed for an approval. I only went for this loan so that I would be able to write the interest off for taxes for home improvements. I am not in dire need of a HELOC. I went here and after over a month of waiting, received a voice mail that I was declined and then the account rep went on vacation. I reached out several times to discuss the declination and no one was ever available. Turns out, they don't know how to read a schedule C or understand what being a self employed person means.. Oh, and my home was appraised for 150,000 more than I owe on it plus my HELOC was only for 30,000. Don't waste the credit pull on this place.

I wrote 2 third federal checks on 7/28/20 from my HELOC loan. Both were for $4000. Each went to a different bank/entity. Check #1001 for $4000 to business #1 cleared with no issues. Check #5002 cleared twice to business #2. It was only written once and was double withdrawn. I noticed on 7/29 and called third federal to advise them of the error. I waited on hold for almost a half hour while they investigated and they returned to say an email was sent and the issue would be resolved by the end of the day. I was assured I would incur no interest on the $4000 taken in error. I called third federal on 7/31 and had a half hour conversation/time on hold while they investigated when I again informed them of the error and that there was no resolution as promised the day before. Another email was sent and they said it could take a day or two with COVID and rest assured the issue would be resolved. I was again reassured I would incur no interest on the amount credited against my account in error. I called third federal again on 8/3, several days after the issue should have been corrected. I was transferred to the checking dept this time and explained the situation. I was told a correction would be issued before 4pm. I asked to have the $4000 duplicate check removed completely from my statement so I would incur no interest charge from it. I was assured no interest would be charged and the interest removed. I called again on 8/3 after 4pm to inform them the charge was still there in my account and was told it was being taken care of and when all done it would be like the check was never duplicate withdrawn which means there would be absolutely no interest incurred. On 8/4 I see a line on my transaction history saying a principle recoupment of $4000 occured on 8/4. 7 days after the duplicate charge. I was assured there would be no interest, but I didn't want to spend another half hour on the phone after being told multiple times that no interest would be charged. My statement closed on 8/9 and I incurred interest charges from the duplicate $4000. I tried calling on 8/9 and they were closed. I tried calling on 8/10 after my work, but I reached them after hours. I tried calling on 8/12 and kept getting a busy signal. I also received a notice from business #1 on 8/12 that check #1001 was duplicate charged and had been reversed and I now owe $4000 to business #1. But business #2 had the duplicate check #5002 cashed twice and would have any excess amount if any was even sent. So my perdicament. I forecasted this issue about interest and tried my hardest to avoid it and they did not help at all. They also reversed the wrong check so I now owe an additional $4000 to business 1 and will incur more interest charges because they are saying the check wasn't valid. So now I owe business #1 interest on $4000 for 7 days. I've been charged interest from third federal on $4000 withdrawn in error for 7 days. I owe business #1 $4000 immediately as my payment is late. Business #2 may or may not have an additional $4000 that was sent in error. I will incur additional interest charges on the $4000 I need to use to pay business #1 due to third federal's lack of ability to correct the situation even after I presented the potential issues several times. This review was taken from my BBB complaint