Mid-island Mortgage Corp. Rates, Fees & Info
WESTBURY, NYLEI: 549300NZ2IPWRMLAYZ30
Tax ID: 11-2108436
2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Overview
Mid-island Mortgage Corp. is a smaller mortgage company specializing in Refi, Cash Out Refi, and Home Purchase loans. Mid-island Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets include New York, Boston, Washington, Poughkeepsie, and Worcester among others. Mid-island Mortgage Corp. has an above average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Mid-island Mortgage Corp. is typically a high fee lendor.Originations
1,447Origination Dollar Volume (All Markets)
$525,875,000Awards
MID-ISLAND MORTGAGE CORP. - 2021
MID-ISLAND MORTGAGE CORP. is a 2021 , due to their low .
For 2021, less than of lenders were eligible for this award.
Work for MID-ISLAND MORTGAGE CORP.?
Use this award on your own site. Either save and use the images below, or pass the provided image embed code to your development team.
Relative Rate
Mid-island Mortgage Corp.'s average 30 year fixed rate mortgage of loans were
3.1%.
The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.
This yields a difference of -0.05%.
Relative Fees
Mid-island Mortgage Corp.'s average total fees for a 30 year fixed rate
mortgage are $7,587.
The average total origination fees for 30 year fixed rate mortgages (for all loan values, including
both points & up-front fees in addition to origination fees) are $4,750.
Top Markets
| Market | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) | 968 | $373,630,000 | $385,981 | $8,010 | 3.02% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 176 | $63,950,000 | $363,352 | $2,845 | 3.05% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 96 | $34,700,000 | $361,458 | $7,497 | 2.98% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 23 | $6,955,000 | $302,391 | $6,477 | 3.10% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 24 | $6,590,000 | $274,583 | $2,750 | 3.04% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 12 | $4,380,000 | $365,000 | $5,207 | 2.92% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 13 | $3,815,000 | $293,462 | $6,995 | 3.29% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 11 | $3,215,000 | $292,273 | $7,439 | 3.11% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 11 | $2,635,000 | $239,545 | $4,838 | 2.96% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 9 | $2,155,000 | $239,444 | $6,203 | 3.00% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 6 | $1,500,000 | $250,000 | $6,606 | 3.25% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 6 | $1,480,000 | $246,667 | $3,146 | 3.21% |
| Outside of Metro Areas | 7 | $1,405,000 | $200,714 | $4,145 | 3.07% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 5 | $1,285,000 | $257,000 | $5,592 | 3.33% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 3 | $1,265,000 | $421,667 | $12,006 | 2.67% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 6 | $1,160,000 | $193,333 | $3,050 | 3.17% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 6 | $1,150,000 | $191,667 | $3,311 | 3.15% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 4 | $1,090,000 | $272,500 | $1,781 | 2.41% |
| KINGSTON, NY (FHA|USDA|VA) | 4 | $970,000 | $242,500 | $4,946 | 3.06% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 3 | $855,000 | $285,000 | $7,546 | 2.83% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $765,000 | $255,000 | $5,662 | 3.17% |
| ROCHESTER, NY (FHA|USDA|VA) | 4 | $660,000 | $165,000 | $2,764 | 2.91% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 2 | $640,000 | $320,000 | $12,145 | 2.79% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 2 | $620,000 | $310,000 | $4,217 | 3.19% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 2 | $600,000 | $300,000 | $6,480 | 3.38% |
| CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $14,751 | 3.13% |
| GLENS FALLS, NY (FHA|USDA|VA) | 3 | $565,000 | $188,333 | $3,827 | 2.88% |
| PENSACOLA-FERRY PASS-BRENT, FL (FHA|USDA|VA) | 2 | $520,000 | $260,000 | $4,177 | 3.25% |
| UTICA-ROME, NY (FHA|USDA|VA) | 2 | $450,000 | $225,000 | $3,697 | 3.13% |
| COLUMBIA, SC (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $7,156 | 2.94% |
| SYRACUSE, NY (FHA|USDA|VA) | 3 | $405,000 | $135,000 | $2,850 | 2.96% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $7,455 | 2.94% |
| Auburn, NY (FHA|USDA|VA) | 2 | $380,000 | $190,000 | $3,317 | 2.88% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 2 | $370,000 | $185,000 | $6,782 | 3.69% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 2 | $360,000 | $180,000 | $3,810 | 2.75% |
| TRENTON-PRINCETON, NJ (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $7,590 | 2.50% |
| WINCHESTER, VA-WV (FHA|USDA|VA) | 1 | $325,000 | $325,000 | $8,685 | 2.25% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 3.63% |
| Lebanon, NH-VT (FHA|USDA|VA) | 1 | $285,000 | $285,000 | $2,056 | 3.38% |
| Keene, NH (FHA|USDA|VA) | 2 | $280,000 | $140,000 | $1,530 | 2.75% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $3,934 | 3.25% |
| NORWICH-NEW LONDON, CT (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 3.13% |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $5,352 | 4.25% |
| DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) | 1 | $245,000 | $245,000 | $3,218 | 3.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 1 | $235,000 | $235,000 | $1,961 | 2.25% |
| Malone, NY (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $4,401 | 3.13% |
| CHARLESTON-NORTH CHARLESTON, SC (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $9,935 | 3.13% |
| St. Marys, GA (FHA|USDA|VA) | 1 | $165,000 | $165,000 | $7,887 | 2.88% |
| ALLENTOWN-BETHLEHEM-EASTON, PA-NJ (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $5,527 | 2.38% |
| Cortland, NY (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,004 | 3.00% |
| ROANOKE, VA (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,256 | 2.63% |
| PUNTA GORDA, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $0 | 4.13% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $4,186 | 2.75% |
Mid-island Mortgage Corp.'s top markets include New York, Boston, Washington, Poughkeepsie, and Worcester among others.
Product Mix
| Loan Type | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Conventional | 1,110 | $391,060,000 | $352,306 | $5,622 | 3.09% |
| FHA | 288 | $113,470,000 | $393,993 | $11,690 | 2.85% |
| VA | 49 | $21,345,000 | $435,612 | $8,698 | 2.63% |
For the 2021 period, Mid-island Mortgage Corp.'s most frequently originated loan type of loans were Conventional, with 1,110 originations. Their 2nd most popular type is FHA, with 288 originations.
Loan Reason
| Loan Reason | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Refi | 681 | $234,655,000 | $344,574 | $6,397 | 2.86% |
| Cash Out Refi | 447 | $156,875,000 | $350,951 | $6,869 | 3.17% |
| Home Purchase | 315 | $132,805,000 | $421,603 | $8,278 | 3.17% |
| Home Improvement | 3 | $1,105,000 | $368,333 | $7,890 | 3.83% |
| Other | 1 | $435,000 | $435,000 | $13,755 | 3.13% |
For the 2021, Mid-island Mortgage Corp.'s most frequently cited loan purpose of loans were Refi, with 681 originations. The 2nd most popular reason of loans were Cash Out Refi, with 447 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 30 Year | 1,157 | $443,755,000 | $383,539 | $7,587 | 3.10% |
| 15 Year | 156 | $42,980,000 | $275,513 | $4,198 | 2.57% |
| 20 Year | 73 | $21,335,000 | $292,260 | $4,533 | 2.98% |
| Other | 40 | $12,900,000 | $322,500 | $5,890 | 2.93% |
| 10 Year | 21 | $4,905,000 | $233,571 | $4,189 | 2.46% |
For the 2021, Mid-island Mortgage Corp.'s most frequently cited loan length of loans were 30 Year, with 1,157 originations. The 2nd most popular length of loans were 15 Year, with 156 originations.
Origination Fees
| Origination Fee | Originations | Total Value | Average Loan |
|---|---|---|---|
| $<1k | 765 | $268,475,000 | $350,948 |
| $5k+ | 238 | $106,310,000 | $446,681 |
| $3k-4k | 169 | $59,065,000 | $349,497 |
| $1k-2k | 111 | $34,675,000 | $312,387 |
| $2k-3k | 101 | $33,525,000 | $331,931 |
$7,587 of loans were Mid-island Mortgage Corp.'s average total fees, while their most frequently occuring range of origination fees were in the $<1k bucket, with 765 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 625 | $240,025,000 | $384,040 |
| 2.5-3% | 601 | $209,905,000 | $349,260 |
| <2.5% | 201 | $68,135,000 | $338,980 |
| 4-5% | 20 | $7,810,000 | $390,500 |
During 2021, Mid-island Mortgage Corp.'s average interest rate of loans were 3.10%, while their most frequently originated rate bucket of loans were 3-4%, with 625 originations.
Loan Sizing
| Loan Size | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $200k-400k | 767 | $232,895,000 | $303,644 | $5,851 | 3.01% |
| $400k-600k | 450 | $215,390,000 | $478,644 | $8,636 | 3.07% |
| $100k-200k | 142 | $22,110,000 | $155,704 | $3,834 | 2.94% |
| $600k-1MM | 77 | $54,565,000 | $708,636 | $15,040 | 3.11% |
| $100,000 or less | 11 | $915,000 | $83,182 | $2,960 | 2.78% |
2021 saw Mid-island Mortgage Corp. place emphasis on $200k-400k loans with 767 originations, totaling $232,895,000 in origination value.
Applicant Income
| Applicant Income | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| $100k-150k | 444 | $167,640,000 | $377,568 | $7,118 | 3.07% |
| $150k-250k | 291 | $120,885,000 | $415,412 | $6,911 | 3.08% |
| $75k-100k | 257 | $82,675,000 | $321,693 | $6,985 | 3.11% |
| $50k-75k | 141 | $34,555,000 | $245,071 | $5,815 | 3.09% |
| $250k+ | 63 | $29,165,000 | $462,937 | $6,406 | 3.01% |
| $50k or less | 30 | $5,400,000 | $180,000 | $4,757 | 3.06% |
Mid-island Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 444 originations. The second most popular income band? $150k-250k, with 291 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-30% | 237 | $74,125,000 | $312,764 | $4,928 | 3.00% |
| 30-36% | 221 | $79,625,000 | $360,294 | $6,206 | 3.03% |
| 42% | 67 | $25,915,000 | $386,791 | $6,542 | 3.22% |
| 44% | 57 | $20,825,000 | $365,351 | $7,856 | 3.19% |
| 41% | 54 | $20,970,000 | $388,333 | $7,562 | 3.10% |
| 39% | 54 | $20,150,000 | $373,148 | $6,544 | 3.06% |
| 40% | 53 | $19,425,000 | $366,509 | $6,318 | 3.05% |
| <20% | 52 | $14,880,000 | $286,154 | $4,531 | 2.87% |
| 38% | 52 | $19,360,000 | $372,308 | $6,482 | 3.15% |
| 43% | 50 | $19,120,000 | $382,400 | $6,145 | 3.19% |
| 49% | 50 | $18,900,000 | $378,000 | $8,421 | 3.22% |
| 48% | 44 | $14,890,000 | $338,409 | $6,499 | 3.07% |
| 47% | 44 | $18,640,000 | $423,636 | $8,600 | 3.24% |
| 36% | 43 | $15,415,000 | $358,488 | $6,241 | 3.01% |
| 46% | 41 | $16,505,000 | $402,561 | $8,629 | 3.18% |
| 45% | 40 | $15,080,000 | $377,000 | $10,449 | 3.08% |
| 37% | 36 | $13,070,000 | $363,056 | $5,969 | 3.18% |
| 50-60% | 34 | $14,970,000 | $440,294 | $18,238 | 3.06% |
| >60% | 1 | $405,000 | $405,000 | $3,394 | 2.75% |
Mid-island Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 237 originations. The next most common DTI ratio? 30-36%, with 221 originations.
Ethnicity Mix
| Applicant Ethnicity | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| White | 806 | $278,740,000 | $345,831 | $5,521 | 3.04% |
| Not provided | 357 | $133,365,000 | $373,571 | $7,946 | 2.98% |
| Black | 218 | $86,530,000 | $396,927 | $10,189 | 3.03% |
| Asian | 59 | $24,225,000 | $410,593 | $8,378 | 3.07% |
| Native Hawaiian | 4 | $1,860,000 | $465,000 | $13,485 | 3.04% |
| American Indian | 2 | $820,000 | $410,000 | $11,327 | 3.06% |
| Asian Indian | 1 | $335,000 | $335,000 | $7,228 | 2.50% |
Approval Rates
Total approvals of all applications92.68%
Mid-island Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination80.73%
Mid-island Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,447 | $525,875,000 | $363,424 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| 1,447 | $525,875,000 | $363,424 |
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| 20-40% | 96 | $20,970,000 | $218,438 | $4,267 | 2.79% |
| 40-60% | 299 | $95,185,000 | $318,344 | $5,292 | 2.96% |
| 60-80% | 539 | $203,215,000 | $377,022 | $6,623 | 3.16% |
| 80-100% | 273 | $115,995,000 | $424,890 | $8,898 | 3.16% |
| Over 100% | 10 | $4,500,000 | $450,000 | $29,373 | 3.24% |
| Under 20% | 11 | $1,855,000 | $168,636 | $3,726 | 2.74% |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| MID-ISLAND MORTGAGE CORP. | Conventional home mortgage | Incorrect information on your report | 1 | 20.0% |
| MID-ISLAND MORTGAGE CORP. | Conventional home mortgage | Trouble during payment process | 3 | 60.0% |
| MID-ISLAND MORTGAGE CORP. | Other type of mortgage | Closing on a mortgage | 1 | 20.0% |
