Maspeth Federal Savings And Loan Association Mortgage Rates, Fees & Info

New York, NY

LEI: 549300NGNH7M36LP4583

Tax ID: 11-1553555

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Similar Lenders
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Maspeth Federal Savings And Loan Association is a smaller mortgage company specializing in Home Purchase and Cash Out Refi loans. Maspeth Federal Savings And Loan Association has a high proportion of conventional loans. Their top (well, only) market is New York.

    Maspeth Federal Savings And Loan Association has an average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders. Maspeth Federal Savings And Loan Association is typically an average fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    139

    Origination Dollar Volume (All Markets)

    $96,975,000

    Employee count

    192

    Awards

    Maspeth Federal Savings and Loan Association 30 Year Conventional Loans bronze Maspeth Federal Savings and Loan Association 30 Year Conventional Loans silver
    Show all (2) awards

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 139 $96,975,000 $697,662 $6,064 4.24%
    Maspeth Federal Savings And Loan Association's top markets include and New York among others.

    Their top states include:
  • New York (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Maspeth Federal Savings and Loan Association based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    N C P D Federal Credit Union
    Similarity Rank: 55
    Bogota Savings Bank
    Similarity Rank: 63
    Union County Savings Bank
    Similarity Rank: 66
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 80
    The Atlantic Federal Credit Union
    Similarity Rank: 120
    Freehold Savings Bank
    Similarity Rank: 120
    Blue Foundry Bank
    Similarity Rank: 125
    Investors Home Mortgage-IHM
    Similarity Rank: 156
    GREATER ALLIANCE
    Similarity Rank: 231
    Nassau Educators Federal Credit Union
    Similarity Rank: 248

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 139 $96,975,000 $697,662 $6,064 4.24%

    For 2018, Maspeth Federal Savings And Loan Association's most frequently originated type of loan was Conventional, with 139 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 79 $60,545,000 $766,392 $6,373 4.25%
    Cash Out Refi 32 $20,380,000 $636,875 $6,190 4.23%
    Home Improvement 23 $13,905,000 $604,565 $2,781 4.21%
    Refi 5 $2,145,000 $429,000 $7,465 4.25%

    For 2018, Maspeth Federal Savings And Loan Association's most frequently cited loan purpose was Home Purchase, with 79 originations. The 2nd most popular reason was Cash Out Refi, with 32 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 87 $51,685,000 $594,080 $6,735 4.43%
    15 Year 52 $45,290,000 $870,962 $4,050 3.91%

    For 2018, Maspeth Federal Savings And Loan Association's most frequently cited loan duration was 30 Year, with 87 originations. The 2nd most popular length was 15 Year, with 52 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 23 $10,145,000 $441,087
    $5k+ 6 $3,810,000 $635,000
    $1k-2k 2 $1,360,000 $680,000
    $2k-3k 2 $1,580,000 $790,000
    $4k-5k 2 $750,000 $375,000
    $3k-4k 1 $335,000 $335,000

    Maspeth Federal Savings And Loan Association's average total fees were $6,735, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 23 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    4-5% 93 $55,945,000 $601,559
    3-4% 44 $40,270,000 $915,227
    5-6% 2 $760,000 $380,000

    During 2018, Maspeth Federal Savings And Loan Association's average interest rate for loans was 4.43%, while their most frequently originated rate bucket for loans was 4-5%, with 93 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $400k-600k 52 $25,120,000 $483,077 $6,035 4.25%
    $600k-1MM 47 $35,815,000 $762,021 $9,363 4.34%
    $200k-400k 25 $7,575,000 $303,000 $3,672 4.14%
    $1MM+ 10 $27,780,000 $2,778,000 $12,430 4.05%
    $100k-200k 4 $620,000 $155,000 $5,725 3.94%
    $100,000 or less 1 $65,000 $65,000 $0 4.75%

    2018 saw Maspeth Federal Savings And Loan Association place emphasis on $400k-600k loans with 52 originations, totaling $25,120,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 17 $8,405,000 $494,412 $5,398 4.32%
    $250k+ 15 $9,115,000 $607,667 $8,527 4.27%
    $100k-150k 10 $5,000,000 $500,000 $5,029 4.18%
    $75k-100k 9 $4,155,000 $461,667 $3,293 4.31%
    $50k-75k 5 $1,805,000 $361,000 $8,421 4.25%
    $50k or less 4 $1,070,000 $267,500 $6,047 4.06%

    Maspeth Federal Savings And Loan Association lent most frequently to those with incomes in the $150k-250k range, with 17 originations. The second most popular income band? $250k+, with 15 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 16 $7,340,000 $458,750 $5,458 4.20%
    20-30% 14 $6,570,000 $469,286 $5,987 4.29%
    30-36% 12 $5,860,000 $488,333 $4,965 4.19%
    42% 4 $2,230,000 $557,500 $3,883 4.13%
    43% 4 $2,190,000 $547,500 $12,223 4.50%
    38% 4 $2,790,000 $697,500 $5,136 4.44%
    40% 3 $945,000 $315,000 $4,443 3.92%
    41% 2 $1,560,000 $780,000 $0 4.63%
    36% 2 $640,000 $320,000 $7,465 4.13%
    >60% 1 $295,000 $295,000 $1,591 3.25%

    Maspeth Federal Savings And Loan Association lent most frequently to those with DTI ratios of <20%, with 16 originations. The next most common DTI ratio? 20-30%, with 14 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 76 $65,970,000 $868,026 $8,699 4.24%
    White 45 $21,075,000 $468,333 $5,794 4.28%
    Asian 11 $5,935,000 $539,545 $6,807 4.11%
    Not provided 7 $3,995,000 $570,714 $3,419 4.21%

    Approval Rates

    Total approvals of all applications
    80.48%

    Maspeth Federal Savings And Loan Association has a below average approval rate.

    Pick Rate

    Approvals leading to origination
    78.42%

    Maspeth Federal Savings And Loan Association has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 139 $96,975,000 $697,662

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 16 $29,330,000 $1,833,125
    Single Family (1-4 Units):Site-Built 123 $67,645,000 $549,959

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 25 $11,815,000 $472,600 $3,914 4.08%
    40-60% 50 $45,800,000 $916,000 $8,176 4.23%
    60-80% 55 $36,105,000 $656,455 $6,224 4.31%
    80-100% 2 $1,080,000 $540,000 $3,933 4.50%
    Under 20% 7 $2,175,000 $310,714 $4,569 4.25%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Maspeth Federal Savings and Loan Association 101-09 Metropolitan Ave New York City, NY 11375 Full Service B&M $129,833
    Maspeth Federal Savings and Loan Association 185-18 Horace Harding Expy New York City, NY 11365 Full Service B&M $70,852
    Maspeth Federal Savings and Loan Association 56-18 69th St Maspeth, NY 11378 Full Service B&M $713,977
    Maspeth Federal Savings and Loan Association 64-19 Woodhaven Blvd New York City, NY 11374 Full Service B&M $137,294
    Maspeth Federal Savings and Loan Association 66-60 Fresh Pond Road Ridgewood, NY 11385 Full Service B&M $45,058
    Maspeth Federal Savings and Loan Association 801 Jericho Turnpike New Hyde Park, NY 11040 Full Service B&M $95,091

    For 2018, Maspeth Federal Savings And Loan Association had 6 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $79,016
    Net interest income $70,451
    Total noninterest income $532
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $17
    Trading account gains and fees $0
    Additional Noninterest Income $515
    Pre-tax net operating income $39,496
    Securities gains (or losses, -) $0
    Income before extraordinary items $26,602
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $26,602
    Minority interest net income $0
    Net income $26,602
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $26,602

    Maspeth Federal Savings And Loan Association's gross interest income from loans was $79,016,000.
    Maspeth Federal Savings And Loan Association's net interest income from loans was $70,451,000.
    Maspeth Federal Savings And Loan Association's fee based income from loans was $17,000.
    Maspeth Federal Savings And Loan Association's net income from loans was $26,602,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $8,565
    Provision for credit losses $-878
    Total noninterest expense $32,365
    Salaries and employee benefits $17,631
    Premises and equipment expense $3,877
    Additional noninterest expense $10,857
    Applicable income taxes $12,894
    Net charge-offs $157
    Cash dividends $0

    Maspeth Federal Savings And Loan Association's interest expense for loans was $8,565,000.
    Maspeth Federal Savings And Loan Association's payroll and benefits expense were $17,631,000.
    Maspeth Federal Savings And Loan Association's property, plant and equipment expenses $3,877,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 1.0%
    Real Estate loans 1.0%
    Construction & Land Development loans 4.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 2.0%
    HELOC loans 0.0%
    All other family 2.0%
    Commercial & industrial loans 0.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $1,206,770
    Deposits held in domestic offices $1,206,770
    Deposits by Individuals, partnerships, and corporations $1,206,770
    Deposits by U.S. Government $0
    Deposits by States and political subdivisions in the U.S. $0
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $135,408
    Demand deposits $33,428
    Nontransaction accounts $1,071,362
    Money market deposit accounts (MMDAs) $19,376
    Other savings deposits (excluding MMDAs) $686,477
    Total time deposits $365,508
    Total time and savings deposits $1,173,342
    Noninterest-bearing deposits $33,428
    Interest-bearing deposits $1,173,342
    Retail deposits $1,156,200
    IRAs and Keogh plan accounts $82,637
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,882,986
    Cash & Balances due from depository institutions $39,232
    Interest-bearing balances $30,700
    Total securities $24,860
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,778,200
    Loan and leases loss allowance $13,376
    Trading account assets $0
    Bank premises and fixed assets $15,609
    Other real estate owned $4,849
    Goodwill and other intangibles $0
    All other assets $20,236

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,882,986
    Total Liabilities $1,263,877
    Total deposits $1,206,770
    Interest-bearing deposits $1,173,342
    Deposits held in domestic offices $1,206,770
    % insured (estimated) $93
    Federal funds purchased and repurchase agreements $0
    Trading liabilities $0
    Other borrowed funds $30,000
    Subordinated debt $0
    All other liabilities $27,107

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,778,200
    Loan and leases loss allowance $13,376
    Total loans and leases (domestic) $1,791,576
    All real estate loans $1,791,511
    Real estate loans in domestic offices $1,791,511
    Construction and development loans $58,021
    Residential 1-4 family construction $2,636
    Other construction, all land development and other land $55,385
    Loans secured by nonfarm nonresidential properties $442,246
    Nonfarm nonresidential secured by owner-occupied properties $6,166
    Commercial real estate & other non-farm, non-residential $436,080
    Multifamily residential real estate $346,814
    1-4 family residential loans $944,430
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $0
    To non-U.S. addressees $0
    Loans to individuals $65
    Credit card loans $0
    Related Plans $0
    Consumer Auto Loans $0
    Other loans to individuals $65
    All other loans & leases $0
    Loans to foreign governments and official institutions $0
    Other loans $0
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $0
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $5,211
    Non 1-4 family restructured loans & leases $34
    Total loans and leases (foreign) $0

    Maspeth Federal Savings and Loan Association had $1,778,200,000 of loans outstanding in 2018. $1,791,511,000 of loans were in real estate loans. $58,021,000 of loans were in development loans. $346,814,000 of loans were in multifamily mortgage loans. $944,430,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 578 $194,592 $336,664
    Nonfarm, nonresidential loans - <$100k 26 $572 $22,000
    Nonfarm, nonresidential loans - $100-250k 84 $9,588 $114,143
    Nonfarm, nonresidential loans - $250k-1MM 468 $184,432 $394,085