Commercial Loan Rates

Multi-Family

Effective Date: Sunday, March 29, 2015

ProductBank FeeInterest RateTerms
Multi-Family (5-Fam or More)No Points3.00%3/3/3 YR Balloon / 30 YR Payout**

How To Apply

No Points3.50%5/5/5 YR Balloon / 30 YR Payout***
No Points4.00%10 YR Balloon / 30 YR Payout

How To Apply

No Points4.75%15 YR Fixed Term (Self-Liquidating)

How To Apply

Terms and rates subject to change without notice.

**3-year term resets twice for an additional 3-years (Prevailing rate & original term).

***5-year term resets twice for an additional 5-years (Prevailing rate & original term).


Mixed Use (Commercial & Apartments)

Effective Date: Sunday, March 29, 2015

ProductBank FeeInterest RateTerms
Mixed Use (Commercial & Apartments)No Points3.00%3/3/3 YR Balloon / 30 YR Payout**
No Points3.50%5/5/5 YR Balloon / 30 YR Payout***

How To Apply

No Points4.00%10 YR Balloon / 30 YR Payout

How To Apply

No Points4.75%15 YR Fixed Term (Self-Liquidating)

How To Apply

Terms subject to change without notice.

**3-year term resets twice for an additional 3-years (Prevailing rate & original term).

***5-year term resets twice for an additional 5-years (Prevailing rate & original term).


Commercial Use (Warehouse, Factory & Retail Taxpayer)

Effective Date: Sunday, March 29, 2015

ProductBank FeeInterest RateTerms
Commercial Use (Warehouse, Factory, Retail Taxpayer)No Points3.25%5/5/5 YR Balloon / 30 YR Payout**

How To Apply

No Points4.75%15 YR Fixed Term (Self Liquidating)

How To Apply

No Points3.00%3/3/3 YR Balloon / 30 YR Payout****
No Points4.00%10 YR Balloon / 30 YR Payout

Terms and rates subject to change without notice.

**5-year term resets twice for an additional 5-years (Prevailing rate & original term).

****3-Year term resets twice for an additional 3-years(Prevailing rate & orginal term).

 


Commercial Line of Credit (CLOC)

Effective Date: Sunday, March 29, 2015

ProductBank FeeInterest RateTerm
Commercial Line of CreditNo Points4.75%Interest rate will be Commercial Fixed Rate or Prime Rate plus 1%, whichever is higher for 5 year draw period. Converts to 15 year fixed mortgage at prevailing rate at end of draw period.

How To Apply

Terms and rates subject to change without notice.

Maximum Loan Amount $500,000. 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.


Land Loans

Effective Date: Sunday, March 29, 2015

ProductBank FeeInterest RateTerm
Land LoanOne Point8.00%5 YR (Interest Only)

How To Apply

Terms and rates subject to change without notice.


Construction Loan

Effective Date: Sunday, March 29, 2015

ProductBank FeeInterest RateTerm
Construction Loan*One Point7.00%24 Months (Interest Only)

How To Apply

Terms and rates subject to change without notice.

*Converted to fixed mortgage at prvailing rate.

Personal Checking

HELPFUL INFORMATION