Echo Funding in Philadelphia, PA | Swift Deal Funding
Echo Funding in Philadelphia, PA
Echo funding fronts the end buyer’s down payment at closing so a Philadelphia assignment deal can close even when your buyer is short on cash at the table. We are a direct lender; the advance is repaid the same day out of the seller’s proceeds — in a wholesale deal, that’s your assignment fee. The cost is a flat 2.5% of the funded amount, nothing upfront. With Philadelphia rowhomes selling around $275,000, Echo most often covers $15,000–$30,000 down-payment gaps on assignment deals from Fishtown to West Philly, with capacity to $10M.
No credit check, no income verification, no tax returns.
How Echo closes in Philadelphia
Pennsylvania is a wet-funding state: settlement runs through a title company or a closing attorney, and our funds sit in escrow before closing. On closing day we cover the end buyer’s down payment; when the seller’s proceeds disburse, your assignment fee repays our advance plus the 2.5% fee straight off the settlement sheet.
The Philadelphia layer is regulatory. The city’s Chapter 9-5200 requires residential wholesalers to hold a Residential Property Wholesaler license and to deliver a written disclosure to the seller at least three days before assignment, and Pennsylvania has separately moved to license wholesaling statewide. None of that touches Echo’s mechanics — it’s your assignment that’s regulated, not our capital — but it can affect whether and how quickly you can assign, so handle licensing and disclosure before you rely on a closing date. Confirm specifics with a local Pennsylvania closing professional.
Pricing
Flat 2.5% of the funded amount. No application, origination, or upfront fees. Collected through the settlement statement.
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 2.5%
- Title company or attorney ready to disburse with the Echo repayment included
Philadelphia note: keep your wholesaler license and three-day seller disclosure current, and confirm the title agent can build the Echo repayment into the statement.
A typical Philadelphia Echo scenario
You’ve assigned a Fishtown rowhome to an end buyer at $290,000 for a $26,000 assignment fee. Your buyer is $20,000 short on the down payment the morning of closing. Echo funds the $20,000 to the title company; our fee is $500. When the deal settles, your $26,000 assignment fee repays the $20,000 advance plus the $500 fee, and you net about $5,500 — instead of watching the deal die at the table.
Echo vs. Stack in Philadelphia
Both front cash at closing; they differ in repayment. Echo repays from your assignment fee in the seller’s proceeds — best when the fee is substantial. Stack repays through a recorded second-position note when seller financing is part of the deal. Choose Echo for fat-fee assignments; choose Stack for seller-carry structures.
Apply
Submit your purchase and assignment contracts online. We verify the fee covers the advance plus 2.5% before approval. Standard turnaround is about 48 hours.
Frequently Asked Questions
Does Philadelphia's wholesaler-license rule change how Echo works? +
No, Echo's mechanics are the same — we fund the end buyer's down payment and recover it from your assignment fee at the title table. But Philadelphia's Chapter 9-5200 requires a Residential Property Wholesaler license and a written seller disclosure at least three days before you assign, and Pennsylvania has tightened wholesaling rules statewide. That compliance is on you, not on our capital. Have your license and disclosure in order, and confirm specifics with a local Pennsylvania closing professional.
How big does my Philadelphia assignment fee need to be for Echo? +
Your assignment fee has to cover the down payment we fund plus our flat 2.5%. On a typical West Philadelphia rowhome assignment around $275,000, a $25,000 fee comfortably covers a $20,000 funded down payment plus the $500 fee. If your spread is thin on a low-price Kensington deal, Echo may not pencil — but on the larger fees common in Fishtown flips, it works cleanly. We verify the math before approval.
Who repays Echo at a Pennsylvania closing? +
The title company or closing attorney does, directly off the settlement statement. Pennsylvania is a wet-funding state, so funds are in escrow before closing; when seller proceeds disburse, your assignment fee repays our down-payment advance plus 2.5% at the same table. There's no second note and no post-closing collection. The title agent must be prepared to disburse with the Echo repayment built into the statement — confirm that when you open the file.
Apply for Echo Funding in Philadelphia, PA
Submit your application online — same-day decisions for complete files before 2 PM Eastern.