Echo Funding in Massachusetts | Swift Deal Funding
Echo funding in Massachusetts
Echo funding (transactional down-payment funding) advances the cash an end buyer needs for their down payment at closing, then gets repaid directly out of the seller’s proceeds — in practice, your assignment fee. The end buyer brings less to the table, the deal closes, and our advance plus a flat 2.5% comes off the settlement statement before anyone walks away. Typical funded amounts in Massachusetts run $25,000–$90,000, with capacity up to $10 million per transaction.
Massachusetts is a higher-priced market, which actually plays well for Echo. The spreads on assignable deals in the Gateway Cities — Worcester, Springfield, Brockton, Lowell, Lawrence, Fall River and New Bedford — are often large enough to absorb a buyer’s down payment with room to spare, exactly the condition Echo needs. Boston-core deals tend toward bigger numbers and bigger down payments, but the same math applies as long as the assignment fee clears the funded amount plus the fee.
How Echo closes in Massachusetts
Massachusetts requires a licensed attorney to conduct the closing, so Echo here is wired into and repaid through the closing attorney’s trust account rather than a title company acting alone. That’s the key difference from a title/escrow state. We coordinate with your attorney so the Echo advance is reflected as cash to the buyer and the repayment — funded amount plus 2.5% — is captured on the settlement statement out of seller proceeds before disbursement. Massachusetts is also a wet-funding state, so our money has to be in trust before recording. Confirm the repayment line items and timing directly with your closing attorney; they control the disbursement order.
Pricing
Flat 2.5% of the funded amount. No application fee, no origination fee, nothing upfront — collected on the closing statement. A $40,000 funded down payment costs $1,000.
What you’ll need
- Executed purchase contract
- Executed assignment contract showing your assignment fee
- Assignment fee large enough to cover the funded down payment plus the 2.5% fee
- Closing attorney’s confirmation that title is ready to disburse with the Echo repayment included
No credit pull, no income docs, no tax returns. Massachusetts note: because counsel runs the closing, give your attorney the Echo figures early so the disbursement is clean.
A typical Massachusetts Echo scenario
You’ve got a Worcester two-family under assignment with a $45,000 fee, and your end buyer is $35,000 short on their down payment. Echo wires the $35,000 to the closing attorney’s trust account; at closing the attorney pays your $45,000 fee from seller proceeds, repays us $35,000 plus $875 (2.5%), and you net roughly $9,125. The buyer closes with less cash out of pocket, and your deal doesn’t stall on their shortfall.
Apply
Submit your purchase and assignment contracts online; we verify the fee covers the funded amount before approval. About 48 hours to wire-ready.
Frequently Asked Questions
How does Echo funding work with Massachusetts attorney closings? +
Echo funds the end buyer's down payment and is repaid out of seller proceeds — your assignment fee — at the table. In Massachusetts a closing attorney conducts the closing, so the repayment runs through the attorney's settlement statement and trust account rather than a title company's escrow. We coordinate with your closing attorney so the Echo advance and the 2.5% fee are built into the disbursement before funds release. Confirm the figures with your attorney ahead of the date.
Does my assignment fee need to be large for Echo to work in Massachusetts? +
Yes — Echo only works when your assignment fee is big enough to cover the funded down payment plus our flat 2.5%. In higher-priced Massachusetts markets that's rarely an issue, since spreads on Gateway City deals in Worcester, Springfield or Brockton often comfortably exceed a typical down payment. If the fee is thin relative to the down payment, the deal won't pencil for Echo, and we'll point you toward a structure that fits better.
How fast can Echo fund in Massachusetts? +
About 48 hours from a complete file to wire-ready, with same-day possible for applications received before 11 AM Eastern. Because Massachusetts is a wet-funding, attorney-closing state, our money must reach the closing attorney's trust account before recording — we wire by 9 AM Eastern on closing day. The main variable is how quickly your attorney confirms title is ready to disburse, so keep counsel looped in early.
Apply for Echo Funding in Massachusetts
Submit your application online — same-day decisions for complete files before 2 PM Eastern.