Manasquan Bank Mortgage Rates, Fees & Info

Manasquan, NJ

LEI: 549300VACYYK343SKH92

Tax ID: 21-0506080

4.6 stars - out of 5 stars, based on 26 reviews

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

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Mortgage Data

  • SimulatedRates™
  • Originations
  • Relative Rates
  • Relative Fees
  • 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

    Manasquan Bank is a smaller bank specializing in Refi and Home Purchase loans. Manasquan Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Trenton, Miami, Philadelphia, and Port St. Lucie among others. We have data for 10 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Manasquan Bank has an above average approval rate when compared to the average across all lenders. They have an above average pick rate when compared to similar lenders. Manasquan Bank 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

    Mortgage professionals: We have various tools to make your lives easier. Contact us to see how we can help with your market research, analytics or advertising needs.


    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.43% 3/19/23
    30 Year Conventional Refi 6.54% 3/19/23
    30 Year Cash-out Refi 6.37% 3/19/23
    15 Year Conventional Purchase 6.17% 3/19/23
    15 Year Conventional Refi 6.12% 3/19/23
    15 Year Cash-out Refi 6.12% 3/19/23
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.


    Originations

    666

    Origination Dollar Volume (All Markets)

    $312,840,000

    Employee count

    217

    Relative Rate

    Manasquan Bank's average 30 year fixed mortgage rate was 3.07%.

    The 2021 average 30 year fixed rate mortgage across all markets and lenders was 3.15%.

    This yields a difference of -0.08%.

    Relative Fees (Closing Costs)

    Manasquan Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $5,431.

    The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $4,750.

    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) 644 $303,100,000 $470,652 $4,275 3.18%
    TRENTON-PRINCETON, NJ (FHA|USDA|VA) 7 $4,005,000 $572,143 $5,284 3.27%
    Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 2 $1,650,000 $825,000 $6,054 3.00%
    Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 6 $1,270,000 $211,667 $3,087 3.14%
    PORT ST. LUCIE, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $6,339 2.63%
    ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $840,000 $420,000 $6,700 3.38%
    NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $385,000 $385,000 $5,355 2.63%
    OCALA, FL (FHA|USDA|VA) 1 $255,000 $255,000 $2,812 2.75%
    North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $205,000 $205,000 $3,347 3.00%
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $125,000 $125,000 $0 3.88%
    Manasquan Bank's top markets include New York, Trenton, Miami, Philadelphia, and Port St. Lucie among others.

    Their top states include:
  • New Jersey (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • New York (FHA|USDA|VA)
  • Pennsylvania (FHA|USDA|VA)
  • South Carolina (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against Manasquan Bank 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: 102
    Schuyler Savings Bank
    Similarity Rank: 352
    ATLANTIS MORTGAGE CO., INC.
    Similarity Rank: 652
    The First National Bank of Long Island
    Similarity Rank: 748
    The Atlantic Federal Credit Union
    Similarity Rank: 882
    GARDEN SAVINGS FEDERAL CREDIT UNION
    Similarity Rank: 1064
    U S WIDE FINANCIAL LLC
    Similarity Rank: 1092
    Columbia Bank
    Similarity Rank: 1183
    Poli Mortgage Group, Inc.
    Similarity Rank: 1369
    Hanover Community Bank
    Similarity Rank: 1430

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 666 $312,840,000 $469,730 $4,288 3.18%

    For 2021, Manasquan Bank's most frequently originated type of loan was Conventional, with 666 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 271 $134,925,000 $497,878 $3,592 3.14%
    Home Purchase 206 $110,300,000 $535,437 $6,575 3.27%
    Cash Out Refi 119 $43,435,000 $365,000 $3,337 2.88%
    Home Improvement 43 $8,525,000 $198,256 $1,409 3.72%
    Other 27 $15,655,000 $579,815 $6,039 3.19%

    For 2021, Manasquan Bank's most frequently cited loan purpose was Refi, with 271 originations. The 2nd most popular reason was Home Purchase, with 206 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 336 $175,830,000 $523,304 $5,431 3.07%
    15 Year 103 $31,875,000 $309,466 $3,264 2.80%
    20 Year 102 $41,790,000 $409,706 $2,332 3.33%
    Other 74 $48,810,000 $659,595 $3,937 3.56%
    10 Year 37 $12,325,000 $333,108 $462 3.83%
    5 Year 13 $995,000 $76,538 $0 3.77%
    1 Year 1 $1,215,000 $1,215,000 $0 3.75%

    For 2021, Manasquan Bank's most frequently cited loan duration was 30 Year, with 336 originations. The 2nd most popular length was 15 Year, with 103 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 513 $194,415,000 $378,977
    $5k+ 14 $23,640,000 $1,688,571
    $3k-4k 7 $4,615,000 $659,286
    $2k-3k 6 $3,100,000 $516,667
    $1k-2k 3 $1,225,000 $408,333
    $4k-5k 3 $2,685,000 $895,000

    Manasquan Bank's average total fees were $5,431, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 513 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 311 $159,305,000 $512,235
    2.5-3% 285 $127,775,000 $448,333
    <2.5% 47 $14,855,000 $316,064
    4-5% 20 $10,650,000 $532,500
    5-6% 3 $255,000 $85,000

    During 2021, Manasquan Bank's average interest rate for loans was 3.07%, while their most frequently originated rate bucket for loans was 3-4%, with 311 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 250 $73,360,000 $293,440 $3,883 3.05%
    $400k-600k 140 $66,460,000 $474,714 $4,753 3.08%
    $100k-200k 92 $14,190,000 $154,239 $2,588 3.19%
    $600k-1MM 80 $60,080,000 $751,000 $5,834 3.20%
    $1MM+ 54 $95,980,000 $1,777,407 $11,592 3.32%
    $100,000 or less 50 $2,770,000 $55,400 $354 3.83%

    2021 saw Manasquan Bank place emphasis on $200k-400k loans with 250 originations, totaling $73,360,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 153 $111,415,000 $728,203 $6,437 3.13%
    $100k-150k 136 $40,910,000 $300,809 $3,399 3.07%
    $150k-250k 128 $56,210,000 $439,141 $4,324 3.03%
    $50k-75k 76 $14,480,000 $190,526 $3,082 3.15%
    $75k-100k 67 $17,225,000 $257,090 $3,686 3.03%
    $50k or less 15 $2,235,000 $149,000 $2,080 3.31%

    Manasquan Bank lent most frequently to those with incomes in the $250k+ range, with 153 originations. The second most popular income band? $100k-150k, with 136 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 140 $60,960,000 $435,429 $4,430 2.98%
    30-36% 110 $42,730,000 $388,455 $4,014 3.12%
    <20% 61 $30,395,000 $498,279 $4,637 3.03%
    42% 34 $14,350,000 $422,059 $3,692 3.06%
    40% 28 $10,130,000 $361,786 $3,746 3.16%
    39% 26 $7,820,000 $300,769 $3,560 3.34%
    41% 26 $11,820,000 $454,615 $4,490 3.10%
    44% 25 $9,715,000 $388,600 $4,807 3.04%
    38% 22 $10,830,000 $492,273 $4,129 3.11%
    37% 21 $11,905,000 $566,905 $4,620 2.96%
    36% 21 $6,565,000 $312,619 $3,865 3.13%
    43% 21 $7,205,000 $343,095 $3,660 3.16%
    47% 13 $7,235,000 $556,538 $6,487 3.21%
    45% 10 $2,600,000 $260,000 $3,147 3.16%
    46% 8 $2,730,000 $341,250 $3,475 3.11%
    48% 7 $3,965,000 $566,429 $7,320 3.04%
    50-60% 4 $1,890,000 $472,500 $5,185 3.75%
    49% 3 $1,165,000 $388,333 $4,155 2.71%

    Manasquan Bank lent most frequently to those with DTI ratios of 20-30%, with 140 originations. The next most common DTI ratio? 30-36%, with 110 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 519 $217,475,000 $419,027 $4,285 3.08%
    Not applicable 78 $62,120,000 $796,410 $0 3.83%
    Not provided 62 $30,210,000 $487,258 $4,352 3.14%
    Asian 5 $2,775,000 $555,000 $5,141 3.35%
    Black 1 $215,000 $215,000 $3,042 2.50%
    American Indian 1 $45,000 $45,000 $0 3.75%

    Approval Rates

    Total approvals of all applications
    96.17%

    Manasquan Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    91.14%

    Manasquan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 666 $312,840,000 $469,730

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    666 $312,840,000 $469,730

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 87 $31,435,000 $361,322 $3,342 3.05%
    40-60% 146 $69,320,000 $474,795 $4,174 3.02%
    60-80% 279 $147,525,000 $528,763 $4,732 3.26%
    80-100% 99 $56,965,000 $575,404 $6,238 3.01%
    Over 100% 1 $455,000 $455,000 $0 4.25%
    Under 20% 54 $7,140,000 $132,222 $934 3.65%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Manasquan Bank 1050 Route 9 South Howell, NJ 7731 Full Service B&M $64,479
    Manasquan Bank 85 Bridge Avenue Bay Head, NJ 8742 Full Service B&M $164,359
    Manasquan Bank 185 Main St Manasquan, NJ 8736 Full Service B&M $296,157
    Manasquan Bank 2221 Landmark Place Manasquan, NJ 8736 Full Service B&M $218,789
    Manasquan Bank 2307 Route 88 Point Pleasant Beach, NJ 8742 Full Service B&M $196,744
    Manasquan Bank 24 Princeton Avenue Brick, NJ 8724 Full Service B&M $159,373
    Manasquan Bank 305 Highway 71 Spring Lake, NJ 7762 Full Service B&M $171,225
    Manasquan Bank 330 Route 34 Colts Neck, NJ 7722 Full Service B&M $0
    Manasquan Bank 330 State Highway 34 Colts Neck, NJ 7722 Full Service B&M $33,436
    Manasquan Bank 429 Main St Metuchen, NJ 8840 Limited, Administrative $0
    Manasquan Bank 442 Main Street Metuchen, NJ 8840 Full Service B&M $285,988
    Manasquan Bank 525 Route 72 , East Stafford Township, NJ 8050 Full Service B&M $33,277
    Manasquan Bank 540 Route 9 South Little Egg Harbor Townshi, NJ 8087 Full Service B&M $22,297
    Manasquan Bank 541 Sycamore Avenue Shrewsbury, NJ 7702 Full Service B&M $86,488
    Manasquan Bank 1115 Highway 35 North Ocean, NJ 7712 Full Service B&M $141,361
    Manasquan Bank 1410 Meetinghouse Road Manasquan, NJ 8736 Full Service B&M $200,792
    Manasquan Bank 167 Newton's Corner And Ramtown Road Howell, NJ 7731 Full Service B&M $102,572

    For 2021, Manasquan Bank had 17 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $79,099
    Net interest income $68,838
    Total noninterest income $4,759
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $546
    Trading account gains and fees $0
    Additional Noninterest Income $4,213
    Pre-tax net operating income $33,597
    Securities gains (or losses, -) $-65
    Income before extraordinary items $24,031
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $24,031
    Minority interest net income $0
    Net income $24,031
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $24,082

    Manasquan Bank's gross interest income from loans was $79,099,000.
    Manasquan Bank's net interest income from loans was $68,838,000.
    Manasquan Bank's fee based income from loans was $546,000.
    Manasquan Bank's net income from loans was $24,031,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $10,261
    Provision for credit losses $-5,400
    Total noninterest expense $45,400
    Salaries and employee benefits $24,939
    Premises and equipment expense $6,126
    Additional noninterest expense $14,335
    Applicable income taxes $9,501
    Net charge-offs $324
    Cash dividends $0

    Manasquan Bank's interest expense for loans was $10,261,000.
    Manasquan Bank's payroll and benefits expense were $24,939,000.
    Manasquan Bank's property, plant and equipment expenses $6,126,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 0.0%
    HELOC loans 0.0%
    All other family 0.0%
    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 $2,335,823
    Deposits held in domestic offices $2,335,823
    Deposits by Individuals, partnerships, and corporations $2,248,130
    Deposits by U.S. Government $342
    Deposits by States and political subdivisions in the U.S. $87,351
    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 $863,168
    Demand deposits $481,304
    Nontransaction accounts $1,472,655
    Money market deposit accounts (MMDAs) $636,899
    Other savings deposits (excluding MMDAs) $311,243
    Total time deposits $524,513
    Total time and savings deposits $1,854,519
    Noninterest-bearing deposits $481,356
    Interest-bearing deposits $1,854,467
    Retail deposits $2,217,467
    IRAs and Keogh plan accounts $98,015
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,660,419
    Cash & Balances due from depository institutions $558,395
    Interest-bearing balances $554,130
    Total securities $169,062
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,841,710
    Loan and leases loss allowance $20,320
    Trading account assets $0
    Bank premises and fixed assets $49,291
    Other real estate owned $0
    Goodwill and other intangibles $4,103
    All other assets $37,858

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,660,419
    Total Liabilities $2,431,059
    Total deposits $2,335,823
    Interest-bearing deposits $1,854,467
    Deposits held in domestic offices $2,335,823
    % insured (estimated) $54
    Federal funds purchased and repurchase agreements $27,253
    Trading liabilities $0
    Other borrowed funds $56,178
    Subordinated debt $0
    All other liabilities $11,805

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,841,710
    Loan and leases loss allowance $20,320
    Total loans and leases (domestic) $1,862,030
    All real estate loans $1,647,454
    Real estate loans in domestic offices $1,647,454
    Construction and development loans $111,432
    Residential 1-4 family construction $57,747
    Other construction, all land development and other land $53,685
    Loans secured by nonfarm nonresidential properties $691,124
    Nonfarm nonresidential secured by owner-occupied properties $302,254
    Commercial real estate & other non-farm, non-residential $388,870
    Multifamily residential real estate $91,630
    1-4 family residential loans $753,268
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $204,802
    To non-U.S. addressees $0
    Loans to individuals $1,782
    Credit card loans $0
    Related Plans $85
    Consumer Auto Loans $26
    Other loans to individuals $1,671
    All other loans & leases $7,992
    Loans to foreign governments and official institutions $0
    Other loans $4,205
    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 $1,023
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Manasquan Bank had $1,841,710,000 of loans outstanding in 2021. $1,647,454,000 of loans were in real estate loans. $111,432,000 of loans were in development loans. $91,630,000 of loans were in multifamily mortgage loans. $753,268,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $26,000 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 621 $234,354 $377,382
    Nonfarm, nonresidential loans - <$100k 29 $1,800 $62,069
    Nonfarm, nonresidential loans - $100-250k 125 $17,659 $141,272
    Nonfarm, nonresidential loans - $250k-1MM 467 $214,895 $460,161
    Commercial & Industrial, US addressed loans - <$1MM 760 $123,762 $162,845
    Commercial & Industrial, US addressed loans - <$100k 349 $14,927 $42,771
    Commercial & Industrial, US addressed loans - $100-250k 198 $25,071 $126,621
    Commercial & Industrial, US addressed loans - $250k-1MM 213 $83,764 $393,258