EMD Funding in New York | Swift Deal Funding
EMD Funding in New York
EMD funding puts up the earnest money your purchase contract requires so you can lock up a New York property without spending your own cash. Swift Deal Funding wires the deposit — generally $5,000 to $25,000 — to the closing attorney’s escrow within 24 hours of a complete file. As a direct lender we don’t run credit, verify income, or ask for tax returns; the contract is what we underwrite. The deposit must be refundable under your inspection or due-diligence contingencies.
How EMD funding works in New York
New York is an attorney-closing state, so earnest money typically sits in a closing attorney’s escrow rather than with a standalone title agent. Once your contract is signed with refundable EMD language and you provide the attorney’s escrow contact, we confirm the deposit is refundable, then wire it directly into that escrow. You receive written confirmation of receipt. Because New York funds wet, the deposit is held in escrow through closing and disbursed there; if the deal collapses inside your contingency window, the EMD is returned per the contract. That refundability is what allows us to put our money at risk for you, and it’s why the contract language and a cooperative closing attorney matter far more than your credit. Confirm escrow handling with your attorney before posting.
Pricing
| Option | Upfront | At Close | Best For |
|---|---|---|---|
| A | 5% of EMD (min $500) | 20% of EMD | High close-through rates |
| B | 10% of EMD (min $1,000) | 0% | Predictable per-deal cost (most popular) |
Example: a $20,000 EMD on a higher-priced downstate deal costs $2,000 under Option B — paid once, nothing at closing.
What you’ll need
- Fully executed purchase contract with refundable EMD language
- Closing attorney / escrow contact information
- Written confirmation that the EMD is refundable
- Borrower ID
No credit check, no income verification, no tax returns.
A typical New York EMD scenario
A wholesaler finds an estate-sale colonial outside Rochester and needs to lock it before another investor circles back. The seller’s attorney wants $10,000 earnest money in escrow within two days of signing. With working capital tied up in two other contracts, the wholesaler sends the deal to us that morning. We confirm refundability with the closing attorney’s office and wire the $10,000 into their escrow the same day. The property is locked, due diligence proceeds, and an end buyer is lined up — none of it out of the wholesaler’s own pocket.
Apply
Submit your contract and the closing attorney’s escrow contact online — usually under ten minutes. Same-day wire is possible for complete files in before 11 AM Eastern.
Frequently Asked Questions
Where does the earnest money go in a New York deal? +
Into the closing attorney's escrow account. New York is an attorney-closing state, so contracts run through attorneys and the deposit is typically held in the seller's or your attorney's escrow rather than by a standalone title agent. We wire the EMD directly to that escrow within 24 hours and get written confirmation it's received. The deposit must be refundable under your contract's contingencies so it can be returned if the deal doesn't close.
How fast can you fund earnest money on a New York contract? +
Usually within 24 hours of a complete file and escrow confirmation, with same-day possible for applications in before 11 AM Eastern. In competitive downstate and NYC markets a seller may want the deposit posted within a day of signing, and our turnaround lets you meet that without your own cash. We coordinate the wire directly with the closing attorney's office holding escrow.
How much EMD funding is available in New York? +
Generally $5,000 to $25,000, sized to what your contract requires. Upstate deals in Buffalo or Rochester often call for smaller deposits, while higher-priced downstate, Westchester, or Long Island contracts run toward the upper end. We fund the amount your contract specifies as long as the deposit is refundable per the agreement's contingencies.
Apply for EMD Funding in New York
Submit your application online — same-day decisions for complete files before 2 PM Eastern.