Mid-island Mortgage Corp. Rates, Fees & Info
WESTBURY, NYLEI: 549300NZ2IPWRMLAYZ30
Tax ID: 11-2108436
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Mortgage Data
Review & 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 by origination volume include: New York, Boston, Washington, Poughkeepsie, and Worcester among others. We have data for 53 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.
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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.63% | 4/21/24 |
| 30 Year Conventional Refi | 6.59% | 4/21/24 |
| 30 Year Cash-out Refi | 6.80% | 4/21/24 |
| 30 Year FHA Purchase | 7.35% | 4/21/24 |
| 30 Year FHA Refi | 7.23% | 4/21/24 |
| 30 Year VA Purchase | 6.16% | 4/21/24 |
| 30 Year VA Refi | 6.27% | 4/21/24 |
| 15 Year Conventional Purchase | 6.35% | 4/21/24 |
| 15 Year Conventional Refi | 6.07% | 4/21/24 |
| 15 Year Cash-out Refi | 6.07% | 4/21/24 |
| 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
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The default purchase price is the median sales price across the US for 2022Q4, per FRED.
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.
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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) | 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% |
Similar Lenders
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Product Mix
For 2021, Mid-island Mortgage Corp.'s most frequently originated type of loan was Conventional, with 1,110 originations. Their 2nd most popular type was FHA, with 288 originations.
Loan Reason
For 2021, Mid-island Mortgage Corp.'s most frequently cited loan purpose was Refi, with 681 originations. The 2nd most popular reason was Cash Out Refi, with 447 originations.
Loan Duration/Length
For 2021, Mid-island Mortgage Corp.'s most frequently cited loan duration was 30 Year, with 1,157 originations. The 2nd most popular length was 15 Year, with 156 originations.
Origination Fees/Closing Costs
Mid-island Mortgage Corp.'s average total fees were $7,587, while their most frequently occuring range of origination fees (closing costs) 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 for loans was 3.10%, while their most frequently originated rate bucket for loans was 3-4%, with 625 originations.
Loan Sizing
2021 saw Mid-island Mortgage Corp. place emphasis on $200k-400k loans with 767 originations, totaling $232,895,000 in origination value.
Applicant Income
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
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
Approval Rates
Total approvals of all applications92.91%
Mid-island Mortgage Corp. has an average approval rate.
Pick Rate
Approvals leading to origination85.28%
Mid-island Mortgage Corp. has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 1,447 | $525,875,000 | $363,424 |
LTV Distribution
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% |