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Astoria Federal?

Started by nyperson
about 15 years ago
Posts: 23
Member since: May 2009
Discussion about
Does anyone have any experience with Astoria Federal Savings? Their rates seem pretty good for a 30-year fixed rate (4.25, 4.358 APR, 0 points); for something comparable Chase quoted my 4.8 APR. One the one hand saving almost 1/2% is kind of a big deal, but how are these small local banks in terms of stability, service, etc.? (Will they even lend to me if I want to buy a unit in a 20-30 unit co-op in Manhattan?) Any other experience with Astoria specifically or small banks in general? Thanks.
Response by nyperson
about 15 years ago
Posts: 23
Member since: May 2009

(By the way, if you think (a) I should use a mortgage broker; (b) I should use an online-only bank if the rates are good; or (c) I should *not* use an online-only bank *even if* the rates are good, I'd be interested to hear any advice on that as well. Thanks.)

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Response by printer
about 15 years ago
Posts: 1219
Member since: Jan 2008

i have my mortgage through Astoria. I live in an about 100 unit co-op in Manhattan. I don't have anything to compare them too, but the process went smoothly at the time (about 5 yrs. ago), and I haven't had any problems since. At the time I liked the fact that they hold onto the loan vs. securitizing it, though given the whole robo-foreclosure mess, I guess if I were to default it would be a negative....

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