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about Mid-Island Commercial Lending

Since 1959, Mid-Island Mortgage Corp. has been a leader in the mortgage industry. Mid-Island Mortgage Corp. has been serving the community for over 50 year and is home to the most seasoned veterans in the mortgage industry today. In 2008, in response to increasing demand; Mid-Island Mortgage Corp. has launched a Commercial Lending Division to serve clients in need of larger scale lending solutions. The newly opened division has exceeded expectations in accommodating those in need of financing for multi-family and mixed-use homes in addition to retail, office, and other business types.

Our Difference

Our approach is essentially different from most banking institutions. Our fiduciary obligation is to you, the borrower. Since we are not limited by our affiliation with any one bank, we are able to present your loan to a broad spectrum of potential lender/bank sources, where we secure the best terms and pricing that the market can offer.

The Mid-Island Mortgage professionals are able to offer a financial solution that will fit each individual client's situation. We understand that each client is special and unique, and each project has a different character that goes beyond the bottom-line numbers. By listening to and understanding each client's needs carefully, we believe that we will be able to gain a true picture of your project.

Equally important, Mid-Island Mortgage remains very much involved in the transaction, sharing the burden of collecting and processing information, coordinating third party reports and driving towards a smooth and successful close.

Our Process

Our goal is to make the entire process simple, from start to finish. Following this process will result in a closing as quickly as possible. Our time frame is based on your prompt reply in getting the documentation we need, the faster we receive the documentation the quicker we can help you close the loan.

Phone Interview
Before we can provide you with the best loan options available, we need to get an idea of your loan request. Our discussion will give us a good idea of your project and whether your project is likely to qualify. This process determines the potential revenue from the property and if it is able to service the debt. In order to verify the income and expenses for the property all you have to do is fax or email us the following documents:

  • A current rent roll
  • 2 years operating history for the subject property and a year to date financial statement
  • A completed Application Form or Form 1003 (Uniform Loan Application) and credit report, if available
  • Pictures of the property

Prepare and Submit Submission Package
Once you accept the conditional letter of interest, our loan officers will work closely with you to help gather the necessary information and documents. The documentation you will need to provide us at this stage will vary, depending on the specific loan program that is best suited to your project.

Once all of the information is received, the file will be sent to Underwriting. To ensure the fastest turnaround, we encourage you to submit all required material in a prompt timely manner. If all goes well in underwriting the property appraisal will also be ordered at this time. Once the appraisal is completed and reviewed, the closing attorney will then prepare the title work. Any delay in getting documents to underwriting will delay the issue of a loan commitment letter.

Closing and Funding
Depending on the loan process the loan may be closed within 7 to 10 days after the loan commitment has been issued. Our loan officers will help coordinate all of the closing requirements.



Equal Housing Opportunity

Get started today! Contact Stephen Riley, Mid-Island Commercial Director at 781-722-1704

about Mid-Island Mortgage Corp | Multi-Family Loans | Mixed-Use Loans | SBA Loans | Bridge Loans

Mid-Island Mortgage Corp. | 900 Merchants Concourse | Westbury | New York | 11590

Licensed Mortgage Banker-NYS Department of Financial Services; MA Licensed Mortgage Lender/Broker #MC1259; Licensed by the NH Banking Department; RI Licensed Lender/Broker; Licensed by the NJ Department of Banking and Insurance; FL Mortgage Lender/Servicer; Virginia State Corporation Commission #MC-4685; ME Supervised Licensed Lender; Licensed by the PA Department of Banking and Securities; CT, DE, MD & MN Licensed Mortgage Lender; SCBOFI Mortgage Lender/Servicer; Illinois Residential Mortgage Licensee; Licensed with the North Carolina Commissioner of Banks; ND Money Broker; SD Licensed Lender; DC Mortgage Dual Authority Licensee;


Mid-Island Mortgage Corp. NMLS# 1259

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