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Fixed Rate Mortgage
Unlike adjustable mortgages, fixed rate mortgages allow you to lock-in your interest rate and provide consistent monthly payments* for the life of the loan. This gives you piece of mind and protects you against inflation and rising interest rates.
- Available for 1 to 4 family properties and condominiums only; up to $999,000.00. Contact us for rates and terms for amounts of $1,000,000.00 and above.
- Loans over $500,000.00 and above on 1 family homes or condominiums must be owner occupied
- Up to 75% loan to value for purchases, 70% loan to value for refinances.
- $550.00 non-refundable application fee is required on investment properties
- You won't be penalized for making additional principal payments or paying your loan off early
- Since we don’t outsource our mortgage servicing you will always receive top-quality customer service in person – even after you close.
Effective Date: Wednesday, November 13, 2019
| Term | Points | Rate | APR* | Monthly Payment Per $1,000.00 Borrowed |
|---|---|---|---|---|
| 15 Years | None | 3.00% | 3.013% | 180 monthly payments of $6.91 |
| 30 Years | None | 3.75% | 3.757% | 360 monthly payments of $4.64 |
* APR= Annual Percentage Rate.
Available for loan amounts up to $999,999 for 1 to 4 family properties and condominiums only. 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 or 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 1 family homes or condominiums with maximum Purchase Price of $750,000,00, and 2 family with maximum Purchase Price of $999,000.00 only. 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.
- To submit a request for a Pre-Approval, click here
- Apply Now
- Manage your existing application, click here
- Mortgage Calculators
*this does not include escrow fluctuations.
First Time Homebuyer Program
Buying your first home can be exciting and overwhelming all at the same time. That's why we have a team and program dedicated to providing you with the resources needed to make smart decisions and navigate the process with ease.
- Available to potential borrowers who have not owned any properties in the last 3 years
- Offered for fixed rate mortgages on owner occupied 1-2 family houses or condominiums only
- Maximum purchase price of:
- $750,000 for 1 family homes or condominiums
- $999,000 for 2 family only
- Maximum loan amount of:
- $700,000.00 for 2 family
- A minimum down payment of 5%* is required
- 0.25% interest rate discount
*with a down payment of 5% to 19%, 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 | 3.00% | 3.013% | 180 monthly payments of $6.91 |
| 30 Years | None | 3.75% | 3.757% | 360 monthly payments of $4.64 |
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If you have not owned any properties in the last 3 years, you are eligible for our First Time Homebuyers Program with as little as 5%* down payment. All First Time Home Buyers will be 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
If you're looking to lower your interest rate or monthly mortgage payment or put some extra money in your pocket, a refinancing loan is right for you. Whether you have a mortgage with us or elsewhere, you can ask us about refinancing your loan.
- Available for 1 to 4 family properties and condominiums only; up to $999,999. Contact us for rates and terms for amounts of $1,000,000.00 and above.
- Loans over $500,000.00 on 1 family homes or condominiums must be owner occupied
- Up to 75% loan to value for purchases, 70% loan to value for refinances.
- $550.00 non-refundable application fee is required on investment properties
- You won't be penalized for making additional principal payments or paying your loan off early
- Since we don’t outsource our mortgage servicing you will always receive top-quality customer service in person – even after you close.
| Term | Points | Rate | APR* | Monthly Payment Per $1,000.00 Borrowed |
|---|---|---|---|---|
| 15 Years | None | 3.00% | 3.013% | 180 monthly payments of $6.91 |
| 30 Years | None | 3.75% | 3.757% | 360 monthly payments of $4.64 |
- Apply Now
- To manage your existing application, click here
- Mortgage Calculators
Home Improvement Loans
Is it time to update your kitchen? Convert your garage into livable space? We're here to make that dream a reality with funding options that will help you with your next project while adding value to your home.
There’s no application fee and loans are available for a variety of home improvement projects such as:
- Adding a room or porch
- Updating your kitchen or bath
- Finishing your attic or basement
- Building a garage or patio
- Replacing old windows
- Repairing or replacing a roof
| Term | Points | Rate | APY | Monthly Payment Per $1,000.00 Borrowed |
|---|---|---|---|---|
| 10 Years | None | 5% | 5% | $10.61 |
Available for loan amounts up to $50,000 for 1 to 4 family owner-occupies properties only. Combined 75% LTV with 1st mortgage. Closing costs depend on the loan amount.
Thank you for your interest in a mortgage with Maspeth Federal Savings. To get your application started, please submit the form below and a member of our lending team will contact you within 1-2 business days. If you have additional questions, please call (718) 651-7888.
Meet The Lenders
Our team of experienced lenders have over 100 years of experience combined and a long-standing reputation for integrity in the community. We're dedicated to building lasting relationships and will work to deliver tailored financing options, competitive rates and prompt decisions to help you meet your financial goals.
Ada Morales
Vice President & Mortgage Originations Manager NMLS#641255
- amorales at maspethfederal dot com
- Phone
- 718-651-7888
William Wong
Assistant Vice President & Digital Mortgage Manager NMLS#1209056
- wwong at maspethfederal dot com
- Phone
- 718-651-7888
Vicky Kulma
Vice President NMLS#641258
- vkulma at maspethfederal dot com
- Phone
- 718-651-7888
Our primary lending area consists of the 5 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