Manasquan Bank Mortgage Rates, Fees & Info

Manasquan, NJ

LEI: 549300VACYYK343SKH92

Tax ID: 21-0506080

5 stars - Updated: 7/12/24 - out of 5 stars, based on 25 reviews

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

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Mortgage Data

Review & Overview

Manasquan Bank is a smaller bank specializing in Home Purchase, Home Improvement, and Refi loans. Manasquan Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Atlantic City, Trenton, Philadelphia, and Allentown among others. We have data for 13 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 a below 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 relatively high 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
Home Equity Line of Credit (HELOC) 6.34% 7/12/24
30 Year Conventional Purchase 6.49% 7/12/24
30 Year Conventional Refi 6.55% 7/12/24
15 Year Conventional Purchase 5.69% 7/12/24
15 Year Conventional Refi 5.67% 7/12/24
15 Year Cash-out Refi 5.67% 7/12/24
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.

Manasquan Bank Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Manasquan Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

634

Origination Dollar Volume (All Markets)

$276,890,000

Awards

Manasquan Bank 30 Year Conventional Loans silver Manasquan Bank 30 Year Conventional Loans gold
Show all (2) awards

Relative Rate

Manasquan Bank's average 30 year fixed mortgage rate was 6.08%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.4%.

Relative Fees (Closing Costs)

Manasquan Bank's average total fees/closing costs for a 30 year fixed rate mortgage were $7,403.

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 $9,089.

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) 592 $246,160,000 $415,811 $4,181 7.01%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 5 $8,035,000 $1,607,000 $0 6.38%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 6 $7,980,000 $1,330,000 $6,484 6.35%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 10 $4,210,000 $421,000 $6,901 6.41%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 10 $4,190,000 $419,000 $9,383 6.89%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $1,615,000 $1,615,000 $0 7.25%
Outside of Metro Areas 4 $1,320,000 $330,000 $0 5.44%
SACRAMENTO-ROSEVILLE-FOLSOM, CA (FHA|USDA|VA) 1 $1,275,000 $1,275,000 $0 6.63%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $715,000 $715,000 $0 6.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $665,000 $665,000 $6,776 5.88%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 1 $365,000 $365,000 $4,941 6.00%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $205,000 $205,000 $0 8.50%
PANAMA CITY, FL (FHA|USDA|VA) 1 $155,000 $155,000 $3,220 6.75%
Manasquan Bank's top markets include New York, Atlantic City, Trenton, Philadelphia, and Allentown among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 424 $202,080,000 $476,604 $4,297 6.45%
    HELOC 210 $74,810,000 $356,238 n/a 8.03%

    For 2023, Manasquan Bank's most frequently originated type of loan was Conventional, with 424 originations. Their 2nd most popular type was HELOC, with 210 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 227 $130,845,000 $576,410 $6,887 6.34%
    Home Improvement 204 $56,660,000 $277,745 $222 7.59%
    Other 107 $30,895,000 $288,738 $2,165 7.23%
    Refi 96 $58,490,000 $609,271 $4,200 6.88%

    For 2023, Manasquan Bank's most frequently cited loan purpose was Home Purchase, with 227 originations. The 2nd most popular reason was Home Improvement, with 204 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 199 $121,255,000 $609,322 $7,403 6.08%
    10 Year 142 $33,760,000 $237,746 $0 7.78%
    5 Year 114 $22,870,000 $200,614 $0 7.56%
    20 Year 88 $22,910,000 $260,341 $132 7.01%
    Other 43 $52,875,000 $1,229,651 $7,124 6.64%
    15 Year 30 $3,070,000 $102,333 $161 7.09%
    1 Year 14 $17,570,000 $1,255,000 $0 7.26%
    30+ year 4 $2,580,000 $645,000 $0 7.38%

    For 2023, Manasquan Bank's most frequently cited loan duration was 30 Year, with 199 originations. The 2nd most popular length was 10 Year, with 142 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 284 $97,520,000 $343,380
    $2k-3k 12 $5,870,000 $489,167
    $5k+ 7 $15,535,000 $2,219,286
    $1k-2k 3 $1,255,000 $418,333
    $3k-4k 3 $1,645,000 $548,333
    $4k-5k 2 $1,750,000 $875,000

    Manasquan Bank's average total fees were $7,403, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 284 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    6-7% 225 $106,325,000 $472,556
    Over 8% 139 $52,035,000 $374,353
    7-8% 136 $32,660,000 $240,147
    5-6% 123 $79,205,000 $643,943
    4-5% 9 $4,745,000 $527,222
    3-4% 2 $1,920,000 $960,000

    During 2023, Manasquan Bank's average interest rate for loans was 6.08%, while their most frequently originated rate bucket for loans was 6-7%, with 225 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 172 $9,340,000 $54,302 $82 7.33%
    $200k-400k 142 $40,210,000 $283,169 $4,549 6.86%
    $400k-600k 106 $50,780,000 $479,057 $6,783 6.44%
    $100k-200k 94 $12,380,000 $131,702 $1,378 7.47%
    $1MM+ 60 $119,890,000 $1,998,167 $13,887 6.69%
    $600k-1MM 60 $44,290,000 $738,167 $8,323 6.71%

    2023 saw Manasquan Bank place emphasis on $100,000 or less loans with 172 originations, totaling $9,340,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $250k+ 180 $123,360,000 $685,333 $7,929 7.13%
    $150k-250k 155 $43,545,000 $280,935 $4,248 7.02%
    $100k-150k 123 $26,675,000 $216,870 $2,821 6.83%
    $75k-100k 50 $6,740,000 $134,800 $2,833 7.07%
    $50k-75k 37 $4,635,000 $125,270 $2,352 6.84%
    $50k or less 15 $855,000 $57,000 $1,852 7.06%

    Manasquan Bank lent most frequently to those with incomes in the $250k+ range, with 180 originations. The second most popular income band? $150k-250k, with 155 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 106 $40,330,000 $380,472 $5,091 6.84%
    20-30% 98 $39,060,000 $398,571 $5,044 7.08%
    44% 64 $17,730,000 $277,031 $2,018 7.43%
    42% 31 $10,235,000 $330,161 $3,175 7.04%
    43% 31 $9,055,000 $292,097 $3,811 7.42%
    <20% 27 $6,805,000 $252,037 $3,941 7.05%
    40% 27 $8,635,000 $319,815 $3,224 7.09%
    41% 25 $8,305,000 $332,200 $3,264 7.08%
    37% 21 $4,415,000 $210,238 $2,961 7.26%
    36% 20 $10,040,000 $502,000 $5,163 6.69%
    39% 20 $4,570,000 $228,500 $2,700 6.81%
    38% 18 $5,870,000 $326,111 $2,860 7.08%
    47% 17 $8,245,000 $485,000 $5,950 6.51%
    48% 16 $8,760,000 $547,500 $4,439 6.54%
    46% 13 $6,885,000 $529,615 $7,021 6.37%
    45% 13 $7,795,000 $599,615 $5,289 7.16%
    49% 7 $4,485,000 $640,714 $8,679 6.98%
    50-60% 7 $2,705,000 $386,429 $6,277 5.91%
    >60% 2 $1,280,000 $640,000 $5,259 7.25%

    Manasquan Bank lent most frequently to those with DTI ratios of 30-36%, with 106 originations. The next most common DTI ratio? 20-30%, with 98 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 478 $170,550,000 $356,799 $4,186 7.01%
    Not applicable 68 $69,680,000 $1,024,706 $0 6.71%
    Not provided 63 $24,825,000 $394,048 $4,176 7.14%
    Asian 12 $7,490,000 $624,167 $7,330 6.43%
    Asian Indian 6 $2,590,000 $431,667 $7,078 6.67%
    Black 5 $1,645,000 $329,000 $3,879 6.45%
    Korean 1 $65,000 $65,000 $0 8.25%
    American Indian 1 $45,000 $45,000 $0 7.50%

    Approval Rates

    Total approvals of all applications
    92.79%

    Manasquan Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    89.59%

    Manasquan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 634 $276,890,000 $436,735

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    634 $276,890,000 $436,735

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 92 $25,820,000 $280,652 $2,656 7.52%
    40-60% 69 $57,785,000 $837,464 $6,347 6.77%
    60-80% 146 $100,590,000 $688,973 $8,132 6.37%
    80-100% 88 $58,530,000 $665,114 $7,083 6.17%
    Over 100% 2 $6,630,000 $3,315,000 $0 9.25%
    Under 20% 237 $27,535,000 $116,181 $180 7.48%