EMD Funding in Birmingham, AL | Swift Deal Funding
EMD Funding in Birmingham, AL
EMD funding covers the earnest money deposit on your Birmingham contracts — typically $5,000 to $25,000 — wired to your closing attorney’s office within about 24 hours so you can lock up a property without spending your own cash. Birmingham is a high-volume investor market with very affordable distressed inventory in Ensley, Woodlawn, and East Lake; well-priced deals draw competing rehabbers quickly. EMD funding lets you tie several up while you match them to your buyer list, keeping your working capital free. The deposit must be refundable under your contract’s inspection or due-diligence terms.
How EMD funding works in Birmingham
The Birmingham difference: Alabama is a wet-funding, attorney-closing state, so your earnest money is typically held by the closing attorney’s office rather than a standalone title company. We wire the funded EMD straight to that attorney’s escrow, where it sits under your contract, never released to the seller before closing. We need written confirmation from the attorney’s office that the EMD is refundable per your terms before we fund. Confirm refund handling and any non-refundable date with the attorney’s office locally.
Pricing
| Option | Upfront | At Close |
|---|---|---|
| A | 5% of EMD (min $500) | 20% of EMD |
| B | 10% of EMD (min $1,000) | 0% — most popular |
A $7,500 Birmingham EMD on Option B costs $1,000 (the minimum), paid once, with nothing due at closing.
What you’ll need
- Executed purchase contract with refundable EMD language
- Birmingham closing attorney / escrow contact
- Written confirmation from the attorney’s office that the EMD is refundable
- Your ID
No credit, income, or tax docs.
A typical Birmingham EMD scenario
You go under contract on a $95,000 distressed house in Ensley that rehabbers are circling. The seller wants $5,000 earnest money to take it off the market. Rather than commit your own cash while you shop it to your buyer list, you order EMD funding. We wire $5,000 to the closing attorney within 24 hours; on Option B your cost is $1,000 (the minimum), paid once. If due diligence kills the deal, the deposit comes back refundable.
Apply
Submit your contract and closing attorney contact online — under 10 minutes. Same-day wire possible before 11 AM Eastern.
Frequently Asked Questions
Why do Birmingham wholesalers use EMD funding? +
Birmingham is investor-heavy with deep, affordable distressed inventory in Ensley, Woodlawn, and East Lake — good deals attract competing rehabbers fast. EMD funding lets you back several contracts with real earnest money, locking up properties while you line up end buyers, without draining your own cash. We send the deposit, typically $5,000–$25,000, to your Birmingham closing attorney within about 24 hours, and it stays refundable under your contract's inspection or due-diligence terms.
Where does the earnest money go on a Birmingham deal? +
Alabama is an attorney-closing state, so the earnest money is typically held by the closing attorney's office handling the settlement, rather than a standalone title company. We wire the funded EMD directly to that attorney's escrow, not to the seller, held per your contract. Before we fund, we need written confirmation from the attorney's office that the deposit is refundable under your contract terms, so your downside is protected if the deal falls through during due diligence.
How fast can you fund earnest money on a Birmingham contract? +
We wire the EMD to your Birmingham closing attorney within about 24 hours of a complete application and confirmation from their office. For tight deposit deadlines, same-day funding is possible for complete files in before 11 AM Eastern. The application takes under 10 minutes: the contract with refundable EMD language, your closing attorney's contact, and ID. No credit check, no income verification.
Apply for EMD Funding in Birmingham, AL
Submit your application online — same-day decisions for complete files before 2 PM Eastern.