Echo Funding in Memphis, TN | Swift Deal Funding
Echo Funding in Memphis, TN
Echo (transactional down payment) funding puts cash on the table for your end buyer’s down payment, then gets repaid directly from the seller proceeds — almost always your assignment fee. It fits Memphis assignment deals where an out-of-state investor is financing the purchase and the lender needs a down payment in escrow to close. Instead of fronting that cash yourself or losing the buyer, Echo covers it. With Memphis being a top national turnkey market and median values around $160K–$210K, assignment fees here are healthy relative to the modest down payments, which is exactly the math Echo runs on. Flat 2.5%, nothing upfront.
How Echo closes in Memphis
Tennessee is a wet-funding title/escrow state, so a licensed Memphis title company — many of them attorney-owned — disburses seller proceeds at closing. That single-disbursement structure is what makes Echo work: title pays the seller side, our repayment is built into the closing statement, and the balance of your assignment fee flows to you. No attorney mandate applies, though if you’re working with one of the city’s attorney-owned offices the process is identical. Confirm with title locally that they’ll disburse with the Echo repayment included.
Pricing
Flat 2.5% of the funded down payment. No application, origination, or upfront fees — collected on the closing statement.
What you’ll need
- Executed purchase contract
- Executed assignment showing your assignment fee
- Assignment fee ≥ funded down payment + 2.5%
- A Memphis title company ready to disburse with Echo repayment included
No credit, income, or tax docs. Memphis note: out-of-state buyer financing can shift the required down payment late in the deal — confirm the lender’s number before you size the Echo request.
A typical Memphis Echo scenario
You assign a Berclair single-family at a $28,000 fee to a New York investor whose DSCR lender requires 20% down on a $190,000 purchase — $38,000. Echo funds the $38,000 down payment. Wait: that exceeds your fee, so in practice you’d structure a smaller down payment or use a double close. On a tighter deal — a $22,000 fee with a $15,000 down payment — Echo funds the $15,000, we’re repaid $15,375 from your fee at the Tennessee title table, and you net $6,625 the same day.
Apply
Submit your purchase contract and assignment online. We verify the fee covers the funded amount before approval. ~48-hour standard turnaround.
Frequently Asked Questions
How does Echo funding help me sell a Memphis turnkey rental to an out-of-state buyer? +
Out-of-state investors buying Memphis turnkey rentals often finance with a DSCR or portfolio lender that wants a down payment in escrow before closing. Echo funds that down payment at the table, and we're repaid straight from your assignment fee in the seller proceeds. Your buyer brings less cash, the deal stays alive, and you keep the rest of your spread. Because your fee repays us, it must comfortably exceed the funded down payment plus our flat 2.5%.
Is Echo different from a double close in Memphis? +
Yes. A double close funds your full A-to-B acquisition. Echo funds only the end buyer's down payment and is repaid from your assignment fee, so it's lighter and cheaper when you're assigning rather than taking title. In Memphis, use Echo on Berclair or Orange Mound assignments where the buyer just needs help with the cash-to-close; use a double close when you're buying then reselling. Both run through one Tennessee title company.
How fast can Echo fund a Memphis closing? +
Standard turnaround is about 48 hours from a complete application to wire-ready, and same-day is possible for files submitted before 11 AM Eastern with the purchase contract, the assignment showing your fee, and a title office ready to disburse. We confirm your assignment fee covers the funded amount plus the 2.5% before approval, then wire to your Memphis title company by 9 AM Eastern on closing day. Confirm disbursement timing with title locally.
Apply for Echo Funding in Memphis, TN
Submit your application online — same-day decisions for complete files before 2 PM Eastern.