Mid-island Mortgage Corp. Rates, Fees & Info
WESTBURY, NYLEI: 549300NZ2IPWRMLAYZ30
Tax ID: 11-2108436
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
Jump to:
Mortgage Data
Review & Overview
Mid-island Mortgage Corp. is a smaller mortgage company specializing in Refi, Home Purchase, and Cash Out Refi loans. Mid-island Mortgage Corp. has a high proportion of conventional loans. They have an average proportion of FHA loans. Their top markets by origination volume include: New York, Boston, Washington, Poughkeepsie, and Providence among others. We have data for 50 markets. (Some data included below & more in-depth data is available with an active subscription.)Mid-island Mortgage Corp. 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. Mid-island Mortgage Corp. 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.
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 |
|---|---|---|
| 30 Year Conventional Purchase | 6.63% | 9/1/24 |
| 30 Year Conventional Refi | 6.59% | 9/1/24 |
| 30 Year Cash-out Refi | 6.80% | 9/1/24 |
| 30 Year FHA Purchase | 7.35% | 9/1/24 |
| 30 Year FHA Refi | 7.23% | 9/1/24 |
| 30 Year VA Purchase | 6.16% | 9/1/24 |
| 30 Year VA Refi | 6.27% | 9/1/24 |
| 15 Year Conventional Purchase | 6.35% | 9/1/24 |
| 15 Year Conventional Refi | 6.07% | 9/1/24 |
| 15 Year Cash-out Refi | 6.07% | 9/1/24 |
| 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. | ||
Mid-island Mortgage Corp. Mortgage Calculator
Your Estimates
Estimated Loan Payment: Update the calculator values and click calculate payment!
This is not an official calculator from Mid-island Mortgage Corp.. 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
1,654Origination Dollar Volume (All Markets)
$599,780,000Awards
MID-ISLAND MORTGAGE CORP. - 2020
MID-ISLAND MORTGAGE CORP. is a 2020 , due to their low .
For 2020, 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.
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) | 1,085 | $415,265,000 | $382,733 | $7,182 | 3.18% |
| Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) | 224 | $78,010,000 | $348,259 | $3,109 | 3.17% |
| Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) | 118 | $46,950,000 | $397,881 | $7,661 | 3.07% |
| POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY (FHA|USDA|VA) | 33 | $9,945,000 | $301,364 | $6,512 | 3.23% |
| PROVIDENCE-WARWICK, RI-MA (FHA|USDA|VA) | 31 | $9,475,000 | $305,645 | $3,778 | 3.27% |
| WORCESTER, MA-CT (FHA|USDA|VA) | 14 | $3,560,000 | $254,286 | $2,535 | 3.05% |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) | 15 | $3,505,000 | $233,667 | $6,337 | 3.35% |
| VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) | 11 | $3,015,000 | $274,091 | $6,907 | 2.77% |
| BRIDGEPORT-STAMFORD-NORWALK, CT (FHA|USDA|VA) | 6 | $2,290,000 | $381,667 | $6,083 | 3.00% |
| Outside of Metro Areas | 10 | $1,990,000 | $199,000 | $3,144 | 3.08% |
| BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) | 7 | $1,975,000 | $282,143 | $6,664 | 3.35% |
| MANCHESTER-NASHUA, NH (FHA|USDA|VA) | 6 | $1,880,000 | $313,333 | $4,595 | 2.96% |
| BARNSTABLE TOWN, MA (FHA|USDA|VA) | 5 | $1,805,000 | $361,000 | $2,408 | 3.03% |
| BUFFALO-CHEEKTOWAGA, NY (FHA|USDA|VA) | 10 | $1,780,000 | $178,000 | $3,790 | 3.00% |
| KINGSTON, NY (FHA|USDA|VA) | 6 | $1,690,000 | $281,667 | $5,591 | 3.19% |
| Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) | 6 | $1,680,000 | $280,000 | $10,944 | 3.31% |
| SPRINGFIELD, MA (FHA|USDA|VA) | 7 | $1,515,000 | $216,429 | $1,261 | 2.95% |
| SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) | 7 | $1,375,000 | $196,429 | $6,208 | 3.66% |
| NEW HAVEN-MILFORD, CT (FHA|USDA|VA) | 6 | $1,280,000 | $213,333 | $5,526 | 3.12% |
| ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) | 4 | $1,240,000 | $310,000 | $3,318 | 3.16% |
| RICHMOND, VA (FHA|USDA|VA) | 3 | $935,000 | $311,667 | $6,712 | 3.08% |
| PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) | 3 | $685,000 | $228,333 | $3,584 | 3.25% |
| Laconia, NH (FHA|USDA|VA) | 2 | $610,000 | $305,000 | $6,137 | 2.87% |
| CHARLOTTESVILLE, VA (FHA|USDA|VA) | 2 | $540,000 | $270,000 | $7,528 | 3.00% |
| OCEAN CITY, NJ (FHA|USDA|VA) | 1 | $505,000 | $505,000 | $8,335 | 3.63% |
| SYRACUSE, NY (FHA|USDA|VA) | 3 | $475,000 | $158,333 | $2,448 | 3.33% |
| HARTFORD-EAST HARTFORD-MIDDLETOWN, CT (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,955 | 2.94% |
| LYNCHBURG, VA (FHA|USDA|VA) | 2 | $440,000 | $220,000 | $4,346 | 4.19% |
| CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) | 1 | $435,000 | $435,000 | $3,905 | 3.00% |
| Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) | 2 | $400,000 | $200,000 | $4,667 | 2.94% |
| ROCHESTER, NY (FHA|USDA|VA) | 2 | $330,000 | $165,000 | $3,319 | 3.31% |
| Torrington, CT (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $6,030 | 2.88% |
| DOVER, DE (FHA|USDA|VA) | 1 | $315,000 | $315,000 | $4,497 | 3.00% |
| PORT ST. LUCIE, FL (FHA|USDA|VA) | 1 | $275,000 | $275,000 | $5,470 | 3.13% |
| ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) | 2 | $270,000 | $135,000 | $3,746 | 3.06% |
| HARRISBURG-CARLISLE, PA (FHA|USDA|VA) | 1 | $265,000 | $265,000 | $15,331 | 3.13% |
| LAKELAND-WINTER HAVEN, FL (FHA|USDA|VA) | 1 | $255,000 | $255,000 | $0 | 5.25% |
| Auburn, NY (FHA|USDA|VA) | 1 | $215,000 | $215,000 | $5,216 | 3.50% |
| SALISBURY, MD-DE (FHA|USDA|VA) | 1 | $205,000 | $205,000 | $4,874 | 2.25% |
| READING, PA (FHA|USDA|VA) | 1 | $195,000 | $195,000 | $5,551 | 3.00% |
| Keene, NH (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $1,649 | 3.50% |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) | 1 | $185,000 | $185,000 | $2,903 | 2.75% |
| Lock Haven, PA (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $4,987 | 2.50% |
| WINSTON-SALEM, NC (FHA|USDA|VA) | 1 | $155,000 | $155,000 | $2,063 | 3.88% |
| CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $2,192 | 3.38% |
| EAST STROUDSBURG, PA (FHA|USDA|VA) | 1 | $145,000 | $145,000 | $3,039 | 3.25% |
| Gloversville, NY (FHA|USDA|VA) | 1 | $135,000 | $135,000 | $1,915 | 3.25% |
| North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) | 1 | $125,000 | $125,000 | $4,238 | 2.63% |
| Oneonta, NY (FHA|USDA|VA) | 1 | $115,000 | $115,000 | $2,157 | 3.13% |
| Olean, NY (FHA|USDA|VA) | 1 | $105,000 | $105,000 | $2,041 | 2.75% |
Similar Lenders
We use machine learning to identify the top lenders compared against MID-ISLAND MORTGAGE CORP. based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
Similarity Rank: 134
Similarity Rank: 166
Similarity Rank: 169
Similarity Rank: 247
Similarity Rank: 252
Similarity Rank: 258
Similarity Rank: 310
Similarity Rank: 482
Similarity Rank: 510
Similarity Rank: 525
Product Mix
For 2020, Mid-island Mortgage Corp.'s most frequently originated type of loan was Conventional, with 1,129 originations. Their 2nd most popular type was FHA, with 442 originations.
Loan Reason
For 2020, Mid-island Mortgage Corp.'s most frequently cited loan purpose was Refi, with 954 originations. The 2nd most popular reason was Home Purchase, with 351 originations.
Loan Duration/Length
For 2020, Mid-island Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 1,369 originations. The 2nd most popular length was 15 Year, with 138 originations.
Origination Fees/Closing Costs
Mid-island Mortgage Corp.'s average total fees were $6,809, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 1,081 originations.
Interest Rates
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 3-4% | 828 | $305,230,000 | $368,635 |
| 2.5-3% | 657 | $231,475,000 | $352,321 |
| <2.5% | 104 | $37,540,000 | $360,962 |
| 4-5% | 63 | $24,945,000 | $395,952 |
| 5-6% | 2 | $590,000 | $295,000 |
During 2020, Mid-island Mortgage Corp.'s average interest rate for loans was 3.22%, while their most frequently originated rate bucket for loans was 3-4%, with 828 originations.
Loan Sizing
2020 saw Mid-island Mortgage Corp. place emphasis on $200k-400k loans with 918 originations, totaling $283,860,000 in origination value.
Applicant Income
Mid-island Mortgage Corp. lent most frequently to those with incomes in the $100k-150k range, with 466 originations. The second most popular income band? $50k or less, with 401 originations.
Applicant Debt to Income Ratio
Mid-island Mortgage Corp. lent most frequently to those with DTI ratios of 20-30%, with 285 originations. The next most common DTI ratio? 30-36%, with 226 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications93.28%
Mid-island Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination83.80%
Mid-island Mortgage Corp. has a below average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,654 | $599,780,000 | $362,624 |
Occupancy Type Mix
| Dwelling Type | Originations | Total Value | Average Loan |
|---|---|---|---|
| Single Family (1-4 Units):Site-Built | 1,654 | $599,780,000 | $362,624 |