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 Refi and Home Purchase loans. Manasquan Bank has a high proportion of conventional loans. Their top markets by origination volume include: New York, Trenton, Kill Devil Hills, Philadelphia, and Atlantic City among others. We have data for 15 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 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.

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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

703

Origination Dollar Volume (All Markets)

$304,405,000

Employee count

207

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) 665 $289,215,000 $434,910 $3,890 3.39%
TRENTON-PRINCETON, NJ (FHA|USDA|VA) 13 $5,635,000 $433,462 $4,027 3.52%
Kill Devil Hills, NC (FHA|USDA|VA) 1 $1,765,000 $1,765,000 $6,368 3.75%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 7 $1,535,000 $219,286 $2,873 3.00%
ATLANTIC CITY-HAMMONTON, NJ (FHA|USDA|VA) 4 $1,380,000 $345,000 $3,522 3.38%
OCEAN CITY, NJ (FHA|USDA|VA) 4 $1,220,000 $305,000 $3,083 3.22%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 1 $705,000 $705,000 $6,220 3.50%
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) 1 $695,000 $695,000 $0 4.50%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 1 $525,000 $525,000 $2,318 3.13%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 1 $395,000 $395,000 $0 3.90%
Bennington, VT (FHA|USDA|VA) 1 $365,000 $365,000 $0 3.75%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $325,000 $325,000 $5,092 3.13%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 1 $235,000 $235,000 $2,402 3.13%
Seneca, SC (FHA|USDA|VA) 1 $215,000 $215,000 $2,426 3.13%
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC (FHA|USDA|VA) 1 $195,000 $195,000 $0 3.75%
Manasquan Bank's top markets include New York, Trenton, Kill Devil Hills, Philadelphia, and Atlantic City among others.

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

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 703 $304,405,000 $433,009 $3,876 3.39%

    For 2020, Manasquan Bank's most frequently originated type of loan was Conventional, with 703 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 313 $149,355,000 $477,173 $3,255 3.32%
    Home Purchase 195 $98,075,000 $502,949 $6,453 3.43%
    Cash Out Refi 134 $44,890,000 $335,000 $3,202 3.17%
    Home Improvement 34 $6,990,000 $205,588 $1,610 4.19%
    Other 27 $5,095,000 $188,704 $1,403 4.06%

    For 2020, Manasquan Bank's most frequently cited loan purpose was Refi, with 313 originations. The 2nd most popular reason was Home Purchase, with 195 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 366 $174,380,000 $476,448 $4,811 3.27%
    20 Year 154 $60,470,000 $392,662 $2,579 3.44%
    15 Year 78 $24,460,000 $313,590 $2,878 3.27%
    Other 51 $29,475,000 $577,941 $3,985 3.55%
    10 Year 33 $9,545,000 $289,242 $564 4.06%
    5 Year 17 $3,755,000 $220,882 $0 4.33%
    1 Year 3 $2,005,000 $668,333 $0 4.08%
    3 Year 1 $315,000 $315,000 $0 4.25%

    For 2020, Manasquan Bank's most frequently cited loan duration was 30 Year, with 366 originations. The 2nd most popular length was 20 Year, with 154 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 575 $208,735,000 $363,017
    $2k-3k 10 $4,370,000 $437,000
    $3k-4k 10 $8,290,000 $829,000
    $1k-2k 9 $3,555,000 $395,000
    $5k+ 6 $14,350,000 $2,391,667
    $4k-5k 1 $865,000 $865,000

    Manasquan Bank's average total fees were $4,811, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 575 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 443 $211,615,000 $477,686
    2.5-3% 182 $75,650,000 $415,659
    4-5% 72 $16,610,000 $230,694
    5-6% 6 $530,000 $88,333

    During 2020, Manasquan Bank's average interest rate for loans was 3.27%, while their most frequently originated rate bucket for loans was 3-4%, with 443 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 303 $87,035,000 $287,244 $3,616 3.27%
    $400k-600k 142 $69,050,000 $486,268 $4,502 3.23%
    $100k-200k 96 $15,060,000 $156,875 $2,638 3.45%
    $600k-1MM 67 $48,735,000 $727,388 $5,818 3.42%
    $100,000 or less 54 $2,690,000 $49,815 $77 4.34%
    $1MM+ 41 $81,835,000 $1,995,976 $10,188 3.45%

    2020 saw Manasquan Bank place emphasis on $200k-400k loans with 303 originations, totaling $87,035,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $150k-250k 171 $65,005,000 $380,146 $3,697 3.36%
    $250k+ 160 $111,210,000 $695,063 $5,780 3.35%
    $100k-150k 153 $46,275,000 $302,451 $3,592 3.29%
    $75k-100k 90 $20,950,000 $232,778 $2,812 3.38%
    $50k-75k 63 $11,645,000 $184,841 $2,937 3.41%
    $50k or less 12 $1,420,000 $118,333 $1,531 3.75%

    Manasquan Bank lent most frequently to those with incomes in the $150k-250k range, with 171 originations. The second most popular income band? $250k+, with 160 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 158 $55,650,000 $352,215 $3,620 3.28%
    30-36% 137 $51,235,000 $373,978 $3,801 3.32%
    <20% 64 $28,180,000 $440,313 $3,832 3.37%
    42% 40 $18,180,000 $454,500 $4,425 3.42%
    41% 33 $10,275,000 $311,364 $3,047 3.36%
    44% 32 $10,060,000 $314,375 $3,423 3.64%
    36% 29 $8,575,000 $295,690 $3,433 3.31%
    38% 27 $10,825,000 $400,926 $4,546 3.19%
    40% 27 $21,065,000 $780,185 $5,482 3.39%
    43% 22 $9,040,000 $410,909 $4,801 3.32%
    37% 20 $6,590,000 $329,500 $3,099 3.35%
    39% 20 $7,580,000 $379,000 $3,912 3.39%
    45% 16 $5,790,000 $361,875 $3,475 3.55%
    46% 11 $5,675,000 $515,909 $5,360 3.30%
    48% 8 $3,190,000 $398,750 $4,598 3.45%
    47% 3 $875,000 $291,667 $4,160 3.00%
    50-60% 3 $2,305,000 $768,333 $6,396 3.33%
    49% 2 $1,080,000 $540,000 $5,125 3.13%
    >60% 1 $125,000 $125,000 $0 4.63%

    Manasquan Bank lent most frequently to those with DTI ratios of 20-30%, with 158 originations. The next most common DTI ratio? 30-36%, with 137 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 523 $203,505,000 $389,111 $3,877 3.36%
    Not provided 116 $48,130,000 $414,914 $3,867 3.35%
    Not applicable 44 $45,090,000 $1,024,773 $0 3.99%
    Asian 14 $5,990,000 $427,857 $4,036 3.25%
    Black 5 $1,495,000 $299,000 $3,764 3.00%
    Asian Indian 1 $195,000 $195,000 $2,845 3.00%

    Approval Rates

    Total approvals of all applications
    96.35%

    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
    88.48%

    Manasquan Bank has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 703 $304,405,000 $433,009

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 14 $32,990,000 $2,356,429
    Single Family (1-4 Units):Site-Built 689 $271,415,000 $393,926

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 62 $13,880,000 $223,871 $2,650 3.47%
    40-60% 133 $48,495,000 $364,624 $3,691 3.25%
    60-80% 350 $187,200,000 $534,857 $4,344 3.33%
    80-100% 107 $50,375,000 $470,794 $5,374 3.27%
    Over 100% 1 $605,000 $605,000 $0 4.00%
    Under 20% 50 $3,850,000 $77,000 $76 4.37%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Manasquan Bank 1050 Route 9 South Howell, NJ 7731 Full Service B&M $41,903
    Manasquan Bank 1115 Highway 35 North Ocean, NJ 7712 Full Service B&M $95,458
    Manasquan Bank 1410 Meetinghouse Road Manasquan, NJ 8736 Full Service B&M $176,532
    Manasquan Bank 167 Newton's Corner And Ramtown Road Howell, NJ 7731 Full Service B&M $84,916
    Manasquan Bank 185 Main St Manasquan, NJ 8736 Full Service B&M $248,026
    Manasquan Bank 2221 Landmark Place Manasquan, NJ 8736 Full Service B&M $223,624
    Manasquan Bank 2307 Route 88 Point Pleasant Beach, NJ 8742 Full Service B&M $149,667
    Manasquan Bank 24 Princeton Avenue Brick, NJ 8724 Full Service B&M $133,346
    Manasquan Bank 305 Highway 71 Spring Lake, NJ 7762 Full Service B&M $138,770
    Manasquan Bank 330 State Highway 34 Colts Neck, NJ 7722 Full Service B&M $656
    Manasquan Bank 429 Main St Metuchen, NJ 8840 Limited, Administrative $0
    Manasquan Bank 442 Main Street Metuchen, NJ 8840 Full Service B&M $248,598
    Manasquan Bank 525 Route 72 , East Stafford Township, NJ 8050 Full Service B&M $12,448
    Manasquan Bank 540 Route 9 South Little Egg Harbor Townshi, NJ 8087 Full Service B&M $9,473
    Manasquan Bank 541 Sycamore Avenue Shrewsbury, NJ 7702 Full Service B&M $22,893
    Manasquan Bank 85 Bridge Avenue Bay Head, NJ 8742 Full Service B&M $139,690

    For 2020, Manasquan Bank had 16 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $72,789
    Net interest income $57,527
    Total noninterest income $3,988
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $535
    Trading account gains and fees $0
    Additional Noninterest Income $3,453
    Pre-tax net operating income $11,409
    Securities gains (or losses, -) $38
    Income before extraordinary items $8,616
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $8,616
    Minority interest net income $0
    Net income $8,616
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $8,585

    Manasquan Bank's gross interest income from loans was $72,789,000.
    Manasquan Bank's net interest income from loans was $57,527,000.
    Manasquan Bank's fee based income from loans was $535,000.
    Manasquan Bank's net income from loans was $8,616,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $15,262
    Provision for credit losses $11,920
    Total noninterest expense $38,186
    Salaries and employee benefits $21,051
    Premises and equipment expense $5,247
    Additional noninterest expense $11,888
    Applicable income taxes $2,831
    Net charge-offs $12
    Cash dividends $0

    Manasquan Bank's interest expense for loans was $15,262,000.
    Manasquan Bank's payroll and benefits expense were $21,051,000.
    Manasquan Bank's property, plant and equipment expenses $5,247,000.

    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 $1,895,203
    Deposits held in domestic offices $1,895,203
    Deposits by Individuals, partnerships, and corporations $1,824,656
    Deposits by U.S. Government $1,478
    Deposits by States and political subdivisions in the U.S. $69,069
    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 $673,143
    Demand deposits $367,444
    Nontransaction accounts $1,222,060
    Money market deposit accounts (MMDAs) $448,694
    Other savings deposits (excluding MMDAs) $242,214
    Total time deposits $531,152
    Total time and savings deposits $1,527,759
    Noninterest-bearing deposits $367,444
    Interest-bearing deposits $1,527,759
    Retail deposits $1,792,529
    IRAs and Keogh plan accounts $95,396
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $2,224,017
    Cash & Balances due from depository institutions $343,322
    Interest-bearing balances $339,286
    Total securities $66,230
    Federal funds sold & reverse repurchase $0
    Net loans and leases $1,727,141
    Loan and leases loss allowance $26,044
    Trading account assets $0
    Bank premises and fixed assets $42,426
    Other real estate owned $0
    Goodwill and other intangibles $4,420
    All other assets $40,478

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $2,224,017
    Total Liabilities $2,044,552
    Total deposits $1,895,203
    Interest-bearing deposits $1,527,759
    Deposits held in domestic offices $1,895,203
    % insured (estimated) $60
    Federal funds purchased and repurchase agreements $12,696
    Trading liabilities $0
    Other borrowed funds $128,042
    Subordinated debt $0
    All other liabilities $8,611

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $1,727,141
    Loan and leases loss allowance $26,044
    Total loans and leases (domestic) $1,753,185
    All real estate loans $1,456,534
    Real estate loans in domestic offices $1,456,534
    Construction and development loans $81,545
    Residential 1-4 family construction $42,619
    Other construction, all land development and other land $38,926
    Loans secured by nonfarm nonresidential properties $594,591
    Nonfarm nonresidential secured by owner-occupied properties $265,824
    Commercial real estate & other non-farm, non-residential $328,767
    Multifamily residential real estate $79,615
    1-4 family residential loans $700,783
    Farmland loans $0
    Loans held in foreign offices $0
    Farm loans $0
    Commercial and industrial loans $290,122
    To non-U.S. addressees $0
    Loans to individuals $1,172
    Credit card loans $0
    Related Plans $99
    Consumer Auto Loans $40
    Other loans to individuals $1,033
    All other loans & leases $5,357
    Loans to foreign governments and official institutions $0
    Other loans $1,212
    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 $88
    Non 1-4 family restructured loans & leases $0
    Total loans and leases (foreign) $0

    Manasquan Bank had $1,727,141,000 of loans outstanding in 2020. $1,456,534,000 of loans were in real estate loans. $81,545,000 of loans were in development loans. $79,615,000 of loans were in multifamily mortgage loans. $700,783,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $40,000 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 574 $209,774 $365,460
    Nonfarm, nonresidential loans - <$100k 30 $1,915 $63,833
    Nonfarm, nonresidential loans - $100-250k 127 $18,744 $147,591
    Nonfarm, nonresidential loans - $250k-1MM 417 $189,115 $453,513
    Commercial & Industrial, US addressed loans - <$1MM 1,598 $186,646 $116,800
    Commercial & Industrial, US addressed loans - <$100k 996 $37,526 $37,677
    Commercial & Industrial, US addressed loans - $100-250k 344 $44,867 $130,427
    Commercial & Industrial, US addressed loans - $250k-1MM 258 $104,253 $404,081