EMIGRANT MORTGAGE (A Division of Emigrant Bank)
Emigrant Mortgage, a Division of Emigrant Bank (“Emigrant)” through its affiliate, Emigrant Funding Corporation (“EFC”), offers portfolio (bank-owned) small balance commercial / mixed use products for first mortgage financing for most types of commercial real estate, including: multifamily apartment houses, mixed-use buildings, retail strips and office properties. As a subsidiary of Emigrant Bank, a 172-year-old New York savings institution, EFC is able to draw upon the vast resources of its parent to make sure borrowers get the funds they need in a timely fashion.
Emigrant’s commercial portfolio guidelines include purchase, rate/term refinancing and cash-out refinancing transactions, full documentation loan programs and amortization periods up to 30 Years. EFC's full suite of programs and products provide financing options for traditional borrowers, as well as foreign nationals, resident aliens and borrowers with low or no credit scores. EFC, through Emigrant Bank, is a participating Small Business Administration (“SBA”) Lender offering SBA (504) Loans.
Emigrant’s Commercial Lending Area includes:
NY Market*
• 5 boroughs
• Nassau/Suffolk
• Westchester/Rockland
• Orange & Putnam
NJ/CT Market
• New Jersey (All Counties)*
• Connecticut (Fairfield County)
New England Market
• Massachusetts (Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk and Worcester Counties)
Southeastern Market
• Florida (Broward, Collier, Hillsborough, Lee, Miami-Dade, Palm Beach, Pasco, Pinellas and Sarasota Counties)
*EFC's Small Business Administration (SBA) lending area
Emigrant maintains offices in New York (Manhattan, Queens, Long Island and Westchester), New Jersey and Florida. Our Commercial Mortgage Specialist along with our in-house team of underwriters, appraisers and closers, facilitate prompt decision making and processing of all loan applications.
Emigrant’s Small Balance Commercial Lending Program allows for loan sizes up to 5MM. As a portfolio lender, and with features such as no personal debt-to-income ratio, large cash outs, cross-collateralizations, and deal structuring, Emigrant brings a unique underwriting approach to the commercial lending space.
Jack Coll is Senior VP and regional manager at Emigrant.