Echo Funding in Charleston, SC | Swift Deal Funding
Echo Funding in Charleston, SC
Echo funding (transactional down payment funding) supplies the cash an end buyer needs for their down payment at closing, then is repaid from the seller-side proceeds — usually your assignment fee — at that same closing. It’s the fit for a Charleston wholesaler whose buyer is qualified but short on closing-day cash.
Charleston’s pricey, tourism-driven market (median ~$550K) and the steady investor demand in North Charleston tend to produce assignment fees with room to carry an Echo down payment. The local wrinkle is geography: tidal, flood-prone areas mean title and elevation items deserve a little lead time before disbursement. Typical Charleston Echo amounts run $30,000–$130,000, with capacity up to $10M. The fee is a flat 2.5%, no upfront cost.
How Echo closes in Charleston (SC attorney-must-close)
South Carolina is a wet-funding state, and the SC Supreme Court requires a licensed SC attorney to supervise the closing and disburse from the trust account. For Echo, that attorney disburses the end buyer’s down payment from our funds, then repays us from the seller-side proceeds (your assignment fee) on the settlement statement. We wire by 9 AM Eastern on closing day; standard turnaround is ~48 hours from a complete file. Have your Charleston closing attorney confirm in writing that the Echo repayment line is on the statement, and verify timing — plus any flood/title items — locally.
Pricing
Flat 2.5% of the funded amount. No application, origination, or upfront fees — collected on the closing statement.
What you’ll need
- Executed purchase contract
- Executed assignment contract showing your assignment fee
- An assignment fee large enough to cover the funded down payment plus the 2.5% fee
- A licensed SC closing attorney ready to disburse seller proceeds with Echo repayment included
- All parties aligned on the closing timeline
No credit check, no income verification, no tax returns.
A typical Charleston Echo scenario
You assign a North Charleston contract to an end buyer at a $320,000 price with a $35,000 assignment fee. The buyer is approved but needs $25,000 for the down payment they don’t have liquid. Echo funds the $25,000 to the SC closing attorney. After the attorney clears title and flood items, the closing disburses your $35,000 fee, repays our $25,000 plus the 2.5% fee ($625), and you net about $9,375 — the buyer closes on schedule and the deal doesn’t stall over closing-day liquidity.
Apply
Submit your purchase and assignment contracts online. We confirm the assignment fee covers the funded amount before approval. Standard turnaround ~48 hours.
Frequently Asked Questions
How is Echo repaid through a South Carolina attorney closing? +
Echo funds the end buyer's down payment and is repaid from seller-side proceeds — your assignment fee — at the same closing. Because the SC Supreme Court requires attorney-supervised closings, a licensed SC attorney disburses the funds and handles the repayment line on the settlement statement. We need that Charleston attorney's written confirmation that Echo repayment is built into the disbursement before we fund the down payment.
Do Charleston's higher prices support a strong assignment fee for Echo? +
Often, yes. Charleston's higher median (~$550K), plus solid North Charleston investor demand, tends to support assignment fees large enough to cover an Echo down payment plus our flat 2.5%. We verify the assignment contract shows the fee before approving. On peninsula or tidal-area deals, just allow your SC attorney time to clear title and any flood items before the disbursement.
Is Echo a loan to me or to my buyer in Charleston? +
Echo is transactional funding for the end buyer's down payment, repaid from seller proceeds at closing rather than billed to you afterward. As a direct lender we run no credit check, income verification, or tax returns on either party. On Charleston deals everything settles through the SC Supreme Court–required attorney closing; confirm the disbursement order with that firm.
Apply for Echo Funding in Charleston, SC
Submit your application online — same-day decisions for complete files before 2 PM Eastern.