Echo Funding in Tennessee | Swift Deal Funding
Echo Funding in Tennessee
Echo is transactional down payment funding: we supply the cash your end buyer needs for their down payment, then get repaid from the seller’s proceeds — typically your assignment fee — at closing. For Tennessee wholesalers, that lets you save a deal where the buyer is short on closing cash without restructuring it into a full double close.
Tennessee is a high-volume wholesale market, and Echo deals here commonly fund $25,000 to $90,000 in down payment across Memphis, Nashville, and Knoxville, with capacity up to $10 million per transaction. The fee is a flat 2.5% with nothing upfront. No credit pull, no income check, no tax returns.
How Echo funding closes in Tennessee
Tennessee closes through title companies — many attorney-owned, especially in Memphis — and it is a wet-funding state, so escrow holds the money before disbursement and pays out per the settlement statement on closing day. Echo runs as a single closing:
- We fund the end buyer’s down payment into escrow before closing.
- The deal closes as an assignment, with your assignment fee on the settlement statement.
- The closing office disburses seller proceeds and repays our funded amount plus the flat 2.5% out of those proceeds.
- You net your assignment fee minus our repayment, the same day.
Your assignment fee has to cover the funded down payment plus our 2.5% — we verify that before approval. Memphis has a deep bench of investor-friendly closing offices thanks to heavy out-of-state buyer demand.
Pricing
Flat 2.5% of the funded amount. No application fee, no origination fee, nothing upfront — collected through the closing statement.
What you’ll need
- Fully executed purchase contract
- Executed assignment showing your assignment fee
- An assignment fee at least equal to the funded down payment plus our 2.5%
- A Tennessee title company ready to disburse seller proceeds with Echo repayment included
No credit check, no income docs, no tax returns.
A typical Tennessee Echo scenario
A Memphis wholesaler assigns a rental deal to a flipper whose hard-money lender funds 90% of purchase but not the down payment. The buyer needs $15,000 to close; the wholesaler’s assignment fee is $22,000. We fund the $15,000 down payment into escrow. At closing, the attorney-owned title company documents the $22,000 fee, repays us $15,000 plus the 2.5% fee ($375), and the wholesaler nets $6,625 with no cash out of pocket. The deal closes as one clean assignment.
Apply
Upload your purchase contract and the assignment showing your fee online. We verify the fee covers the funded amount before approving. Standard turnaround is about 48 hours to wire-ready.
Frequently Asked Questions
Can I use Echo on a Memphis assignment to a hard-money buyer? +
Yes, and it is a common fit. Many Memphis end buyers are flippers using hard money, which often does not cover 100% of the cash to close. Echo funds the buyer's down payment gap so the deal closes as a single assignment. We are repaid from the seller-side proceeds — your assignment fee — at the same closing. Your fee just needs to be large enough to cover the funded amount plus our flat 2.5%, which we confirm before approving.
Does Tennessee's title-company closing model work for Echo? +
It works well. Tennessee closes through title companies, many of them attorney-owned in Memphis, and it is a wet-funding state — so funds are in escrow before disbursement and everything pays out per the settlement statement on closing day. We fund the down payment into escrow, the closing office documents your assignment fee, and our funded amount plus 2.5% is repaid from seller proceeds the same day. Use a title company experienced with investor assignments.
When should a Nashville wholesaler choose Echo over a double close? +
Choose Echo when the gap is the buyer's down payment and you have a solid assignment fee to repay us from — it keeps the deal a single, cleaner closing. A double close makes more sense when you specifically want your spread off the seller's statement, since Echo requires your assignment fee to be documented. In fast-moving Nashville deals where speed and simplicity matter, Echo's single-closing structure is often the easier path.
Apply for Echo Funding in Tennessee
Submit your application online — same-day decisions for complete files before 2 PM Eastern.