Echo Funding in Detroit, MI | Swift Deal Funding
Echo Funding in Detroit, MI
Echo funding fronts the cash for your end buyer’s down payment at closing, then gets repaid straight from the seller’s proceeds — your assignment fee, in a wholesale deal. Swift Deal Funding is a direct lender: flat 2.5% fee, no upfront cost, no credit check, no income or tax docs, all 50 states.
Detroit’s market is unique: a citywide median near $90K with wild variance, much of the supply from Wayne County tax foreclosures, and much of the demand from out-of-state rental buyers. Down payments are small in absolute dollars, but spreads run enormous as a percentage — so when a remote buyer comes up short on cash-to-close, your Detroit assignment fee can almost always absorb an Echo-funded down payment.
How Echo Closes in Detroit
Michigan is a title/escrow, wet-funding state with no attorney mandate, so a Wayne County title company runs the disbursement. We send the down payment into escrow; at closing, title repays our funded amount plus 2.5% out of seller proceeds before releasing your net assignment fee. The buyer brings less cash; you net your spread minus our fee.
Confirm your Detroit closer can add the Echo payoff as a line item, and that title is clear of any redemption issues before closing.
Pricing
Flat 2.5% of the funded down payment, collected at close — nothing upfront.
| Funded Down Payment | Echo Fee (2.5%) |
|---|---|
| $8,000 | $200 |
| $15,000 | $375 |
| $30,000 | $750 |
What You’ll Need
- Executed purchase contract
- Executed assignment contract showing your assignment fee
- Assignment fee ≥ funded down payment + 2.5%
- Wayne County title company ready to disburse with the Echo repayment included
A Typical Detroit Echo Scenario
A wholesaler assigns a rehabbed single in East English Village to an out-of-state landlord at a $62,000 purchase price with a $24,000 assignment fee. The remote buyer’s cash-to-close runs $10,000 short after lender reserves. Echo funds the $10K for a $250 fee. At the Wayne County table, title repays us $10,250 from seller proceeds, the buyer closes, and the wholesaler still nets $13,750. A low-dollar deal that almost collapsed over a small cash gap closes clean.
Apply
Submit your purchase and assignment contracts online. We confirm your fee covers the funded amount before approval. Standard turnaround ~48 hours.
Frequently Asked Questions
With Detroit's tiny prices, will my assignment fee cover an Echo down payment? +
Usually yes, because Detroit spreads are huge as a percentage. A $22,000 buy reselling at $44,000 leaves a $22,000 assignment fee — more than enough to cover a small down payment plus our 2.5%. Echo requires the fee to exceed the funded amount plus 2.5%, and Detroit's enormous percentage spreads on Wayne County inventory make that easy to clear. We verify the math before approving so there's no surprise at the Wayne County table.
Why would a Detroit out-of-state buyer need Echo funding? +
Many Detroit buyers are remote investors purchasing low-priced rentals, and their cash-to-close sometimes runs short once fees, reserves, and lender requirements stack up. Echo funds that down-payment gap so the deal closes, and we're repaid from your assignment fee out of seller proceeds. On these low-dollar deals, even a small shortfall can kill a closing — Echo keeps a motivated out-of-state buyer in the deal and protects your spread minus the flat 2.5%.
Echo or Stack for a Detroit deal? +
Use Echo on a straight wholesale assignment where there's a real fee for us to be repaid from — common with Detroit's high-percentage spreads. Use Stack when the deal includes seller carry-back financing and repayment comes from a recorded second-position note instead. Detroit sees both: assignments to out-of-state rental buyers (Echo) and creative-finance deals on owner-held homes (Stack). We confirm your assignment fee covers the funded amount before approving Echo.
Apply for Echo Funding in Detroit, MI
Submit your application online — same-day decisions for complete files before 2 PM Eastern.