Manasquan Bank Mortgage Rates, Fees & Info

Manasquan, NJ

LEI: 549300VACYYK343SKH92

Tax ID: 21-0506080

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Mortgage Data

Bank Data

Review & Overview

Manasquan Bank is a smaller bank specializing in Home Purchase and Refi loans. Manasquan Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Philadelphia, Vineland, Atlantic City, and Ocean City among others. We have data for 9 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.

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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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
Home Equity Line of Credit (HELOC) 6.34% 3/28/24
30 Year Conventional Purchase 6.49% 3/28/24
30 Year Conventional Refi 6.55% 3/28/24
15 Year Conventional Purchase 5.69% 3/28/24
15 Year Conventional Refi 5.67% 3/28/24
15 Year Cash-out Refi 5.67% 3/28/24
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

512

Origination Dollar Volume (All Markets)

$183,320,000

Employee count

190

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) 498 $176,530,000 $354,478 $0 0.00%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 4 $3,630,000 $907,500 $0 0.00%
VINELAND-BRIDGETON, NJ (FHA|USDA|VA) 1 $655,000 $655,000 $0 0.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 2 $630,000 $315,000 $0 0.00%
OCEAN CITY, NJ (FHA|USDA|VA) 1 $485,000 $485,000 $0 0.00%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 3 $485,000 $161,667 $0 0.00%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $315,000 $315,000 $0 0.00%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $305,000 $305,000 $0 0.00%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $285,000 $285,000 $0 0.00%
Manasquan Bank's top markets include New York, Philadelphia, Vineland, Atlantic City, and Ocean City among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 512 $183,320,000 $358,047 $0 0.00%

    For 2019, Manasquan Bank's most frequently originated type of loan was Conventional, with 512 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 209 $82,395,000 $394,234 $0 0.00%
    Refi 174 $72,510,000 $416,724 $0 0.00%
    Home Improvement 59 $10,625,000 $180,085 $0 0.00%
    Cash Out Refi 45 $15,545,000 $345,444 $0 0.00%
    Other 25 $2,245,000 $89,800 $0 0.00%

    For 2019, Manasquan Bank's most frequently cited loan purpose was Home Purchase, with 209 originations. The 2nd most popular reason was Refi, with 174 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 512 $183,320,000 $358,047 $0 0.00%

    For 2019, Manasquan Bank's most frequently cited loan duration was Other, with 512 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 203 $59,925,000 $295,197 $0 0.00%
    $400k-600k 88 $42,660,000 $484,773 $0 0.00%
    $100,000 or less 79 $4,135,000 $52,342 $0 0.00%
    $100k-200k 73 $10,705,000 $146,644 $0 0.00%
    $600k-1MM 49 $34,045,000 $694,796 $0 0.00%
    $1MM+ 20 $31,850,000 $1,592,500 $0 0.00%

    2019 saw Manasquan Bank place emphasis on $200k-400k loans with 203 originations, totaling $59,925,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 135 $46,825,000 $346,852 $0 0.00%
    $100k-150k 97 $23,435,000 $241,598 $0 0.00%
    $250k+ 95 $55,455,000 $583,737 $0 0.00%
    $75k-100k 59 $12,605,000 $213,644 $0 0.00%
    $50k-75k 37 $5,855,000 $158,243 $0 0.00%
    $50k or less 13 $1,265,000 $97,308 $0 0.00%

    Manasquan Bank lent most frequently to those with incomes in the $150k-250k range, with 135 originations. The second most popular income band? $100k-150k, with 97 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 512 $183,320,000 $358,047 $0 0.00%

    Manasquan Bank lent most frequently to those with DTI ratios of Exempt%, with 512 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 351 $107,015,000 $304,886 $0 0.00%
    Not provided 85 $38,435,000 $452,176 $0 0.00%
    Not applicable 66 $35,140,000 $532,424 $0 0.00%
    Asian 6 $1,700,000 $283,333 $0 0.00%
    Asian Indian 1 $505,000 $505,000 $0 0.00%
    Native Hawaiian or Islander 1 $315,000 $315,000 $0 0.00%
    Black 2 $210,000 $105,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    94.21%

    Manasquan Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    90.04%

    Manasquan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 512 $183,320,000 $358,047

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 24 $21,660,000 $902,500
    Single Family (1-4 Units):Site-Built 488 $161,660,000 $331,270

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Manasquan Bank 1050 Route 9 South Howell, NJ 7731 Full Service B&M $38,927
    Manasquan Bank 1115 Highway 35 North Ocean, NJ 7712 Full Service B&M $59,497
    Manasquan Bank 1410 Meetinghouse Road Manasquan, NJ 8736 Full Service B&M $150,619
    Manasquan Bank 167 Newton's Corner And Ramtown Road Howell, NJ 7731 Full Service B&M $74,019
    Manasquan Bank 185 Main St Manasquan, NJ 8736 Full Service B&M $208,278
    Manasquan Bank 2221 Landmark Place Manasquan, NJ 8736 Full Service B&M $187,367
    Manasquan Bank 2307 Route 88 Point Pleasant Beach, NJ 8742 Full Service B&M $115,013
    Manasquan Bank 24 Princeton Avenue Brick, NJ 8724 Full Service B&M $130,057
    Manasquan Bank 305 Highway 71 Spring Lake, NJ 7762 Full Service B&M $115,383
    Manasquan Bank 429 Main St Metuchen, NJ 8840 Full Service B&M $0
    Manasquan Bank 442 Main Street Metuchen, NJ 8840 Full Service B&M $224,430
    Manasquan Bank 85 Bridge Avenue Bay Head, NJ 8742 Full Service B&M $130,164

    For 2019, Manasquan Bank had 12 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $70,919
    Net interest income $52,787
    Total noninterest income $4,066
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $609
    Trading account gains and fees $0
    Additional Noninterest Income $3,457
    Pre-tax net operating income $15,816
    Securities gains (or losses, -) $204
    Income before extraordinary items $12,041
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $12,041
    Minority interest net income $0
    Net income $12,041
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $11,879

    Manasquan Bank's gross interest income from loans was $70,919,000.
    Manasquan Bank's net interest income from loans was $52,787,000.
    Manasquan Bank's fee based income from loans was $609,000.
    Manasquan Bank's net income from loans was $12,041,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $18,132
    Provision for credit losses $2,240
    Total noninterest expense $38,797
    Salaries and employee benefits $22,140
    Premises and equipment expense $5,584
    Additional noninterest expense $11,073
    Applicable income taxes $3,979
    Net charge-offs $478
    Cash dividends $0

    Manasquan Bank's interest expense for loans was $18,132,000.
    Manasquan Bank's payroll and benefits expense were $22,140,000.
    Manasquan Bank's property, plant and equipment expenses $5,584,000.

    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 $1,506,944
    Deposits held in domestic offices $1,506,944
    Deposits by Individuals, partnerships, and corporations $1,429,267
    Deposits by U.S. Government $343
    Deposits by States and political subdivisions in the U.S. $77,334
    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 $456,936
    Demand deposits $191,671
    Nontransaction accounts $1,050,008
    Money market deposit accounts (MMDAs) $353,332
    Other savings deposits (excluding MMDAs) $171,496
    Total time deposits $525,180
    Total time and savings deposits $1,315,273
    Noninterest-bearing deposits $191,673
    Interest-bearing deposits $1,315,270
    Retail deposits $1,417,138
    IRAs and Keogh plan accounts $92,648
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $1,774,451
    Cash & Balances due from depository institutions $170,357
    Interest-bearing balances $164,973
    Total securities $73,679
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,453,371
    Loan and leases loss allowance $14,136
    Trading account assets $0
    Bank premises and fixed assets $35,805
    Other real estate owned $204
    Goodwill and other intangibles $6,180
    All other assets $34,855

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $1,774,451
    Total Liabilities $1,603,442
    Total deposits $1,506,944
    Interest-bearing deposits $1,315,270
    Deposits held in domestic offices $1,506,944
    % insured (estimated) $59
    Federal funds purchased and repurchase agreements $22,400
    Trading liabilities $0
    Other borrowed funds $66,247
    Subordinated debt $0
    All other liabilities $7,851

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,453,371
    Loan and leases loss allowance $14,136
    Total loans and leases (domestic) $1,467,507
    All real estate loans $1,306,747
    Real estate loans in domestic offices $1,306,747
    Construction and development loans $73,766
    Residential 1-4 family construction $50,823
    Other construction, all land development and other land $22,943
    Loans secured by nonfarm nonresidential properties $537,504
    Nonfarm nonresidential secured by owner-occupied properties $241,129
    Commercial real estate & other non-farm, non-residential $296,375
    Multifamily residential real estate $55,132
    1-4 family residential loans $640,345
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $156,414
    To non-U.S. addressees $0
    Loans to individuals $1,321
    Credit card loans $0
    Related Plans $109
    Consumer Auto Loans $0
    Other loans to individuals $1,212
    All other loans & leases $3,025
    Loans to foreign governments and official institutions $0
    Other loans $863
    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 $950
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Manasquan Bank had $1,453,371,000 of loans outstanding in 2019. $1,306,747,000 of loans were in real estate loans. $73,766,000 of loans were in development loans. $55,132,000 of loans were in multifamily mortgage loans. $640,345,000 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 528 $194,726 $368,799
    Nonfarm, nonresidential loans - <$100k 23 $1,515 $65,870
    Nonfarm, nonresidential loans - $100-250k 127 $18,486 $145,559
    Nonfarm, nonresidential loans - $250k-1MM 378 $174,725 $462,235
    Commercial & Industrial, US addressed loans - <$1MM 622 $101,326 $162,904
    Commercial & Industrial, US addressed loans - <$100k 288 $13,236 $45,958
    Commercial & Industrial, US addressed loans - $100-250k 170 $21,307 $125,335
    Commercial & Industrial, US addressed loans - $250k-1MM 164 $66,783 $407,213