Who is Pan Am Mortgage? I Have Never Heard of Them

12th Apr 2016 Blog

logo2A borrower need only turn on their TV, radio or search the internet to reach traditional lenders like Wells Fargo, Bank of America, Chase, Santander, etc. These lenders can be great for individuals who are buying single family homes throughout the country. However, in the Tri-state area it often takes a little more than just sitting in a bank lobby and completing a 30 year fixed mortgage application. Mortgage Brokers in the New York City area need to know their market and their borrowers inside and out to make any purchase or refinance a smooth transaction.

Pan Am Mortgage is a professional group of seasoned loan officers who are knowledgeable with all lending situations in the city, whether they are warrantable or unwarrantable Condos and Co-ops or multi and/or single family residences. Even foreign nationals are not an issue if qualified. Pan Am has lenders for all of the above properties and situations.

Pan Am has been in business for 16 years. We are conveniently located in Midtown Manhattan at 116 East 30th Street. At Pan Am Mortgage we pride ourselves on being a one-stop mortgage broker. Our strength is that we have experienced Loan officers who know how to pre-qualify clients for real estate brokers. With our pre-qualification in hand, the real estate broker can be 100% confident that the transaction will close if they find the right property.

In 2015, Pan Am closed over 90 million dollars’ worth of mortgages with approximately 20 different lenders. We offer a tremendous amount of options to our clients, and we thoroughly explain every detail of the loan process and all program options available. The client can then make an informed and educated decision on which option to choose. We base these programs on their credit profile. We explain the different products that are available, including fixed rate mortgages, adjustable mortgages and even interest only mortgage products (excellent for Bonus workers who get paid on performance). It used to be a 30 year fixed mortgage was the standard. The days of the 30 year fixed are over unless you walk in the lobby of the bank and sit with a rep in the lobby. Then you will just complete an application get a 30 year fix and not even hear or discuss any options.

Not all people fit the profile for a 30 year fixed mortgage loan. Purchasing a property is a serious decision. A professional mortgage broker must take the time to speak to the client, understand their goals and offer options that might fit their need as oppose to just completing a black and white application. The New York City market is not black and white, and a true professional needs to know every option at their disposal. At Pan Am Mortgage we find the right option for every client. We are not only interested in the short term; we seek to build long term business relationships.

By providing personal service and mortgage education Pan Am has established itself as a solid player in the Tri-state area. You may not have heard of Pan Am Mortgage, but if you give us a chance, we are confident you will return for future mortgage opportunities.
Thomas Dougherty,
Branch Manager

Call 212-867-9290 if you have any questions. Ask for Tom and I am happy to answer any and all questions concerning financing!