Branches
Fixed Rate Mortgage
Protect yourself against inflation and rising interest rates with a fixed rate mortgage that lets you lock in your interest rate and monthly payments* for the life of the loan. Plus, get the peace of mind and personal service that come with borrowing from a bank that services every mortgage in house.
- Available for loan amounts up to $999,000. Contact us for rates and terms for amounts of $1,000,000 and above.
- One-family homes and condominiums must be owner-occupied to qualify for loans of $500,000 and above.
- Co-ops must be owner-occupied regardless of loan amount (up to $999,999).
- Up to 75% loan-to-value ratio for purchases, 70% for refinances
- $550 non-refundable application fee on loans for investment properties
- No penalty for additional principal payments or early loan payoffs
Effective Date: Thursday, March 30, 2023
| Term | Points | Rate | APR* | Monthly Payment Per $1,000.00 Borrowed | |
|---|---|---|---|---|---|
| 15 Years | None | 5.75% | 5.764% | Primary 1-2 Family Homes, Condominiums & Coops | 180 monthly payments of $8.30 |
| 15 Years | None | 6.25% | 6.264% | Non-Owner Occupied 1-4 & Owner Occupied 3-4 Family Homes & Condominiums | 180 monthly payments of $8.57 |
| 30 Years | None | 6.25% | 6.259% | Primary 1 & 2 Family Homes, Condominiums & Coops | 360 monthly payments of $6.16 |
| 30 Years | None | 6.75% | 6.759% | Non-Owner Occupied 1-4 & Owner Occupied 3-4 Family Homes & Condominiums | 360 monthly payments of $6.49 |
*APR= Annual Percentage Rate.
Available for loan amounts up to $999,999.00. Rates for loan amounts of $1,000,000.00 and above will be determined by the Bank. Loans over $500,000.00 on 1 family homes & condominiums must be owner occupied. Up to 75% loan to value for purchases, 70% loan to value for refinances.
First Time Homebuyers Program is available for purchase of owner occupied single-family and two-family homes, condominiums & co-ops with maximum Purchase Price of $999,000.00. You will receive .25% discount on Interest Rate. Down payment of 5% to 19% will require PMI (Private Mortgage Insurance).
$550.00 Non-refundable application fee is required on investment properties. Terms and rates are subject to change without notice. Rates are for informational purposes only and are not binding until a formal commitment has been issued. Maspeth Federal Savings is an Equal Housing & Equal Opportunity Lender.
Co-Ops must be Owner Occupied and are available for loans up to $999,999.
Apply for a pre-approval by clicking here.
*Does not include escrow fluctuations.
If you have not owned any properties in the last three years, you are eligible for our First Time Homebuyers Program with as little as 5%* down payment. All First Time Home Buyers are eligible for a fixed rate mortgage loan on owner-occupied one- and two-family houses or condominiums with a .25% discount on interest rate.
First Time Homebuyer Program
Maximize the excitement and minimize the stress of buying your first home. Our team will be there every step of the way to help you navigate the process and make smart decisions.
- Available to potential borrowers who have not owned any properties in the last three years
- Applies only to fixed rate mortgages on owner-occupied one- or two-family houses, condominiums and co-ops
- Maximum purchase price of $999,000.00 for single-family, two-family, condominiums and co-ops.
- Minimum down payment of 5%* required
- 0.25% interest rate discount
*Down payment of 5-19% and PMI (private mortgage insurance) will be required, subject to insurance carrier approval.
| Term | Points | Rate | APR* | Monthly Payment Per $1,000.00 Borrowed | |
|---|---|---|---|---|---|
| 15 Years | None | 5.75% | 5.764% | Primary 1-2 Family Homes, Condominiums & Coops | 180 monthly payments of $8.30 |
| 15 Years | None | 6.25% | 6.264% | Non-Owner Occupied 1-4 & Owner Occupied 3-4 Family Homes & Condominiums | 180 monthly payments of $8.57 |
| 30 Years | None | 6.25% | 6.259% | Primary 1 & 2 Family Homes, Condominiums & Coops | 360 monthly payments of $6.16 |
| 30 Years | None | 6.75% | 6.759% | Non-Owner Occupied 1-4 & Owner Occupied 3-4 Family Homes & Condominiums | 360 monthly payments of $6.49 |
*APR= Annual Percentage Rate.
Available for loan amounts up to $999,999.00. Rates for loan amounts of $1,000,000.00 and above will be determined by the Bank. Loans over $500,000.00 on 1 family homes & condominiums must be owner occupied. Up to 75% loan to value for purchases, 70% loan to value for refinances.
First Time Homebuyers Program is available for purchase of owner occupied single-family and two-family homes, condominiums & co-ops with maximum Purchase Price of $999,000.00. You will receive .25% discount on Interest Rate. Down payment of 5% to 19% will require PMI (Private Mortgage Insurance).
$550.00 Non-refundable application fee is required on investment properties. Terms and rates are subject to change without notice. Rates are for informational purposes only and are not binding until a formal commitment has been issued. Maspeth Federal Savings is an Equal Housing & Equal Opportunity Lender.
Co-Ops must be Owner Occupied and are available for loans up to $999,999.
Apply for pre-approval here.
If you have not owned any properties in the last three years, you are eligible for our First Time Homebuyers Program with as little as 5%* down payment. All First Time Home Buyers are eligible for a fixed rate mortgage loan on owner-occupied one- and two-family houses or condominiums with a .25% discount on interest rate.
Refinancing Loan
Take a larger slice of life and a lower interest rate with a refinancing loan. It’s a great way to reduce your monthly mortgage payment or put some extra money in your pocket. Plus, it gives you the peace of mind and personal attention that come with borrowing from a bank that services every loan in house.
- Available for loan amounts up to $999,999 on one- to four-family properties, condominiums and co-ops. Contact us for rates and terms for amounts of $1,000,000 and above.
- One-family homes and condominiums must be owner-occupied to qualify for loans of $500,000 and above.
- Co-ops must be owner-occupied regardless of loan amount (up to $999,999).
- Up to 75% loan-to-value ratio for purchases, 70% for refinances
- $550 non-refundable application fee on loans for investment properties
- No penalty for additional principal payments or early loan payoffs
| Term | Points | Rate | APR* | Monthly Payment Per $1,000.00 Borrowed | |
|---|---|---|---|---|---|
| 15 Years | None | 5.75% | 5.764% | Primary 1-2 Family Homes, Condominiums & Coops | 180 monthly payments of $8.30 |
| 15 Years | None | 6.25% | 6.264% | Non-Owner Occupied 1-4 & Owner Occupied 3-4 Family Homes & Condominiums | 180 monthly payments of $8.57 |
| 30 Years | None | 6.25% | 6.259% | Primary 1 & 2 Family Homes, Condominiums & Coops | 360 monthly payments of $6.16 |
| 30 Years | None | 6.75% | 6.759% | Non-Owner Occupied 1-4 & Owner Occupied 3-4 Family Homes & Condominiums | 360 monthly payments of $6.49 |
*APR= Annual Percentage Rate.
Available for loan amounts up to $999,999.00. Rates for loan amounts of $1,000,000.00 and above will be determined by the Bank. Loans over $500,000.00 on 1 family homes & condominiums must be owner occupied. Up to 75% loan to value for purchases, 70% loan to value for refinances.
First Time Homebuyers Program is available for purchase of owner occupied single-family and two-family homes, condominiums & co-ops with maximum Purchase Price of $999,000.00. You will receive .25% discount on Interest Rate. Down payment of 5% to 19% will require PMI (Private Mortgage Insurance).
$550.00 Non-refundable application fee is required on investment properties. Terms and rates are subject to change without notice. Rates are for informational purposes only and are not binding until a formal commitment has been issued. Maspeth Federal Savings is an Equal Housing & Equal Opportunity Lender.
Co-Ops must be Owner Occupied and are available for loans up to $999,999.
Home Equity Line of Credit
Make your home work harder for you instead of the other way around. Leverage the equity in your home and tap this revolving line of credit to fund home improvements, pay school tuition or cover life’s occasional unanticipated expenses.
- Borrow up to 70% of your home’s combined loan-to-value (CLTV)
- Enjoy easy access to funds when you need them
- Varied monthly payments based on the amount you draw
- Interest only during the draw period
- Closing costs subject to reimbursement if loan closed or paid off within three years
Home Equity Line of Credit
| Prime Rate* | Maximum Term | Minimum Loan Amount |
|---|---|---|
| Prime -0.25% | 10 YR Draw Period/20 YR Payout | $25,000 |
Subject to Loan-to-Value (LTV) ratio and Debt/Income (DTI) ratio.
Available to properties located in the state of NY (Manhattan, Queens, Brooklyn, Bronx, Staten Island, Nassau, Suffolk & Westchester). Applicant must have an existing mortgage with Maspeth Federal Savings for at least 2 years or own the property free & clear. Property must be owner occupied 1-4 family home, condominium or coop. Closing costs subject to reimbursement if HELOC is satisfied within 3 years. Loan products & services subject to approval. Rates, terms and conditions are subject to change without notice. No minimum draw amount; subject to 24-month activity review.
*Rate is based on the Wall Street Journal’s Prime Rate minus 0.25%. The maximum APR is 15.00% and the minimum APR is 3.00%. The maximum allowable line amount; combined DTI cannot exceed 43%. Property insurance is required, and flood insurance may be required. You should consult with a tax advisor about the deductibility of interest paid on your Home Equity Line of Credit.
Meet The Lenders
We’re all about making sure you feel confident about your financial future. That’s why we put you in the hands of experienced lenders who can work with you to deliver tailored financing options, competitive rates and timely decisions. At Maspeth Federal, we’re dedicated to building lasting relationships and helping you meet your financial goals.
Vicky Kulma
Vice President & Mortgage Origination Manager NMLS#641258
- vkulma at maspethfederal dot com
- Phone
- 718-651-7888
William Wong
Vice President & Assistant Mortgage Origination Manager NMLS#1209056
- wwong at maspethfederal dot com
- Phone
- 718-651-7888
Dorota Jankowski
Bank Officer & Mortgage Origination Supervisor NMLS#677545
- djankowski at maspethfederal dot com
- Phone
- 718-651-7888
Our primary lending area consists of the five NYC boroughs (Manhattan, Queens, Brooklyn, Bronx, and Staten Island), Nassau, Suffolk, and Westchester Counties. Terms and rates are subject to change without notice. Rates are for informational purposes only and are not binding until a formal commitment has been issued. Maspeth Federal Savings is an Equal Housing & Equal Opportunity Lender and generates loans without regard to race, color, religion, national origin, sex including gender, gender identity, sexual orientation and disability.