Branches
Mortgage Rates
Conventional Fixed Rate
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.
Home Equity Line of Credit
Home Equity Line of Credit
Effective Date: Thursday, March 30, 2023
| 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.
Commercial Loan Rates
Multi-Family
Effective Date: Thursday, March 30, 2023
| Bank Fee | Interest Rate | Terms |
|---|---|---|
| No Points | 6.25% | 5/5/5 YR Balloon / 25 YR Payout* |
| No Points | 6.50% | 10 YR Balloon / 25 YR Payout |
| No Points | 7.25% | 15 YR Fixed Term (Self-Liquidating) |
Terms and rates subject to change without notice.
*5-year term resets twice for an additional 5-years (Prevailing rate & remaining term).
Mixed Use (Commercial & Apartments)
Effective Date: Thursday, March 30, 2023
| Bank Fee | Interest Rate | Terms |
|---|---|---|
| No Points | 6.25% | 5/5/5 YR Balloon / 25 YR Payout* |
| No Points | 6.50% | 10 YR Balloon / 25 YR Payout |
| No Points | 7.25% | 15 YR Fixed Term (Self-Liquidating) |
Terms subject to change without notice.
*5-year term resets twice for an additional 5-years (Prevailing rate & remaining term).
Commercial Use (Warehouse, Factory & Retail Taxpayer)
Effective Date: Thursday, March 30, 2023
| Bank Fee | Interest Rate | Terms |
|---|---|---|
| No Points | 6.25% | 5/5/5 YR Balloon / 25 YR Payout* |
| No Points | 6.50% | 10 YR Balloon / 25 YR Payout |
| No Points | 7.25% | 15 YR Fixed Term (Self Liquidating) |
Terms and rates subject to change without notice.
*5-year term resets twice for an additional 5-years (Prevailing rate & remaining term). Note that the 5-year initial rate is an introductory rate.
Commercial Line of Credit (CLOC)
Effective Date: Thursday, March 30, 2023
| Bank Fee | Interest Rate | Term |
|---|---|---|
| No Points | 8.00% | The interest rate adjusts on the first of the month to the higher of the initial interest rate or prime rate as reported in The New York Times. Converts to a 15 year fixed mortgage at prevailing Maspeth Federal Savings commercial interest rate for a similar type property at end of draw period. |
Terms and rates subject to change without notice.
Maximum Loan Amount $1,000,000. The standard rate index shall be the Prime Rate as reported in the New York Times. The rate is subject to change as the Prime Rate changes. During the draw period the interest rate shall not be lower than the rate at time of loan closing. 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. Note that the payment will be interest only during the 5 year draw period. Funds availability shall then close and the ending balance will convert to a closed end, fully amortized conventional mortgage for a 15 year term. The rate will be fixed at the prevailing Maspeth Federal Savings Commercial interest rate for the 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 financial advisor with regard to interest tax deductibility.
Land Loans
Effective Date: Thursday, March 30, 2023
| Bank Fee | Interest Rate | Term |
|---|---|---|
| One Point | 9.25% | 5 YR (Interest Only) |
Terms and rates subject to change without notice.
Construction Loans
Effective Date: Thursday, March 30, 2023
| Bank Fee | Interest Rate | Terms |
|---|---|---|
| One Point | 8.25% | 24 Months (interest Only) |
*Converted to fixed mortgage at prevailing rate.
CD & IRA Rates
Effective Date: Thursday, March 30, 2023
| Type | Minimum Balance | Interest Rate | APY (Annual Percentage Yield) |
|---|---|---|---|
| 6 Month CD and IRA | $1,500.00 | 2.31% | 2.35% |
| 9 Month CD and IRA | $1,500.00 | 2.53% | 2.60% |
| 12 Month CD and IRA | $1,500.00 | 4.11% | 4.25% |
| 18 Month CD | $1,500.00 | 3.35% | 3.45% |
| 18 Month Wild Card IRA | $40.00 | 3.35% | 3.45% |
| 24 Month CD and IRA | $2,500.00 | 3.39% | 3.50% |
| 36 Month CD and IRA | $2,500.00 | 3.44% | 3.55% |
| 60 Month CD and IRA | $2,500.00 | 3.49% | 3.60% |
Penalty for early withdrawal. CDs will automatically renew at maturity unless customer chooses otherwise. Rates and special offers may be withdrawn at any time and are subject to change without notice.
Savings and Checking Rates
Effective Date: Thursday, March 30, 2023
| Type | Minimum Balance | Interest Rate | APY (Annual Percentage Yield) |
|---|---|---|---|
| Interest Checking | NONE | 0.49% | 0.50% |
| Perks Checking | NONE | - | - |
| Passbook Savings | $250.00 | 0.49% | 0.50% |
| Statement Savings | $250.00 | 0.49% | 0.50% |
| Money Market | $2,500.00 | 0.49% | 0.50% |
| Vacation & Holiday Clubs | $5.00 | 0.49% | 0.50% |
| Young Savers Club | $1.00 | 0.49% | 0.50% |
The minimum balance shown is required to achieve the stated Annual Percentage Yield. All above Annual Percentage Yields are accurate as of today's date. Additional fees for check printing may apply. Rates are subject to change without notice. Above rates on non-term accounts may change after the account is opened. Applicable fees could reduce earnings on account. Please ask one of our customer service representatives for further information regarding the fees (if any), terms and conditions for the above-mentioned accounts. Disclosure statements are available at all branch locations. FDIC Insured.