Commercial Line of Credit

Maspeth Federal Savings offers a Commercial Line of Credit to our customers holding non-residential (including dwellings 5 family or more), mixed use and commercial mortgages.

Proceeds from your line of credit can be used for:

• Purchasing new equipment
• Building renovations
• Improving cash flow
• Unexpected business expenses
• Upgrading equipment
• Plus much more

Program Highlights Include:

• Offering a maximum line of credit up to $350,000.00
• Line of credit can remain open for up to 5 years
• Accessing your line of credit is as easy as writing a check ($2,000.00 minimum withdrawal required)
• No prepayment penalties
• Interest may be tax deductible
• Renewal may be available at the end of the term

Ask us about our special introductory offer!
For further information or an application call or come into our Loan Center at:

56-05 69th Street, Maspeth, N.Y. 11378 (718) 651-7888

The standard rate index shall be the Maspeth Federal Savings commercial interest rate for similar type property or the Prime Rate plus 1 %, whichever is higher. This is an interest only product. Rate adjusts monthly. A non-refundable application fee is required. Rates subject to change without notice. Line of Credit shall remain open for a maximum of 5 years. Funds availability shall then close and the ending balance will convert to a closed end, fully amortized conventional mortgage for either a 10 or 15 year term set at the prevailing Maspeth Federal Savings commercial interest rate for similar type property. All closing costs will be paid by the borrower and will include, but not limited to, mortgage taxes, appraisal fees, attorney fees and title search fees. Closing costs MUST be paid at closing with newly issued Commercial Line of Credit check. Consult with your tax advisor with regard to interest tax deductibility.

Maspeth Federal Savings is an Equal
Housing & Equal Opportunity Lender