Echo Funding in Maine | Swift Deal Funding
Echo Funding in Maine
Echo (transactional down-payment) funding covers the end buyer’s down payment at a Maine closing, then gets repaid from the seller’s proceeds — for a wholesaler, that’s your assignment fee. The buyer brings less cash, the deal closes, and we’re made whole at the table. Flat 2.5%, nothing out of pocket upfront.
Maine is a thin, seasonal wholesale market, so Echo here is most useful in Greater Portland, where the assignment volume and financed buyers are concentrated. Bangor and Lewiston-Auburn add occasional deals. Because spreads tend to be smaller statewide, Echo funded amounts here typically run $10,000–$40,000, with capacity to $10 million.
How Echo closes in Maine
Maine is an attorney-closing state, so a licensed attorney conducts settlement and disburses off a single statement — no separate escrow company to coordinate. That’s clean for Echo: the buyer’s down payment and our repayment both flow through the same attorney in one motion.
Maine’s wet-funding rule reinforces it: funds must be in the attorney’s escrow before the deed records, so the down payment we provide is wired and confirmed before closing. When it records, the assignment fee on the seller’s side is split to repay our principal and the 2.5% fee. Maine relies on equitable-interest disclosure, not a wholesaler-licensing statute. Confirm with your closing attorney that the Echo repayment is a seller-side proceeds line.
Pricing
Flat 2.5% of the funded down payment. No application, origination, or upfront fees — collected through the settlement statement at close.
What you’ll need
- Executed purchase contract
- Executed assignment showing your assignment fee
- Assignment fee ≥ funded down payment + 2.5%
- Maine closing attorney ready to disburse the Echo repayment from seller proceeds
Local note: Maine’s smaller spreads make the fee-covers-funded-amount math tighter — confirm it clears before you commit.
A typical Maine Echo scenario
You assign a Portland two-family to a financed buyer at a $19,000 fee. The buyer needs $13,000 for the down payment to close on time. Echo wires $13,000 to the closing attorney; at settlement the deal records, your $19,000 fee disburses, and $13,325 (principal + 2.5%) returns to us. You net $5,675 without fronting the buyer’s cash.
Echo vs. Stack in Maine
Both put cash at the table; they differ in repayment. Echo is repaid directly from seller proceeds (your assignment fee) at closing — use it when the fee is substantial. Stack is repaid by a recorded seller-carry second note — use it when seller financing is part of the structure.
Apply
Submit your purchase and assignment contracts online. We verify the fee covers the funded amount before approval. Standard turnaround is about 48 hours.
Frequently Asked Questions
Who handles the Echo repayment at a Maine closing? +
The closing attorney. Maine is an attorney-closing state, so a licensed attorney conducts settlement and disburses off one statement: the down payment we funded goes in, the deal closes, and your assignment fee is split so our principal plus the 2.5% fee returns before you net. Tell your Portland or Bangor attorney early that the Echo repayment is a seller-side line item so it's built into settlement.
Are Maine assignment fees usually big enough for Echo? +
They can be tighter here than in larger markets, so it's worth checking. Your fee must cover the funded down payment plus our flat 2.5%. On a $185,000 Portland assignment with a $13,000 down payment funded, you'd need a fee around $13,325 or more. Maine's smaller spreads mean Echo fits best on Greater Portland deals where the assignment fee is healthy relative to the price. We verify the fee clears the threshold before approving.
Does Maine's wet-funding rule affect Echo? +
It reinforces the structure. Because Maine requires funds in the attorney's escrow before the deed records, the down payment we provide must be there at the table anyway. We wire it so the buyer's side is fully funded, the closing records cleanly, and repayment comes from the same disbursement the attorney handles. Confirm with your Maine closing attorney that the Echo repayment appears on the seller's proceeds line.
Apply for Echo Funding in Maine
Submit your application online — same-day decisions for complete files before 2 PM Eastern.