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Commercial Loan Rates

Multi-Family

Effective Date: Saturday, May 25, 2024

Multi-Family

Bank FeeInterest RateTerms
No Points7.50%5/5/5 YR Balloon / 25 YR Payout*
No Points7.75%10 YR Balloon / 25 YR Payout
No Points8.50%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: Saturday, May 25, 2024

Mixed Use (Commercial & Apartments)

Bank FeeInterest RateTerms
No Points7.50%5/5/5 YR Balloon / 25 YR Payout*
No Points7.75%10 YR Balloon / 25 YR Payout
No Points8.50%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: Saturday, May 25, 2024

Commercial Use (Warehouse, Factory & Retail Taxpayer)

Bank FeeInterest RateTerms
No Points7.50%5/5/5 YR Balloon / 25 YR Payout*
No Points7.75%10 YR Balloon / 25 YR Payout
No Points8.50%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: Saturday, May 25, 2024

Commercial Line of Credit (CLOC)

Bank FeeInterest RateTerm
No Points8.50%

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 TimesThe 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: Saturday, May 25, 2024

Land Loans

Bank FeeInterest RateTerm
One Point10.75%5 YR (Interest Only)

Terms and rates subject to change without notice.


Construction Loans

Effective Date: Saturday, May 25, 2024

Construction Loans

Bank FeeInterest RateTerms
One Point9.75%24 Months (interest Only)

*Converted to fixed mortgage at prevailing rate.

 

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