Echo Funding in South Dakota | Swift Deal Funding
Echo Funding in South Dakota
Echo is transactional down payment funding: we put up the cash your end buyer needs for their down payment, and we are repaid from the seller’s proceeds — your assignment fee — at closing. For South Dakota wholesalers in Sioux Falls or Rapid City, Echo keeps a deal together when the buyer is short on closing cash, without turning it into a full double close.
South Dakota deals commonly fund $15,000 to $60,000 in down payment, with capacity up to $10 million per transaction. The fee is a flat 2.5% with nothing upfront, and there is no minimum deal size. We never pull credit, verify income, or ask for tax returns.
How Echo funding closes in South Dakota
South Dakota is an attorney-closing state, so a closing attorney runs the file and disburses from a trust account. It is also a wet-funding state, so the money must be in trust before anything pays out. Echo runs as a single closing:
- We fund the end buyer’s down payment into the attorney’s trust account before closing.
- The deal closes as an assignment, with your assignment fee documented on the settlement statement.
- The attorney disburses seller proceeds and repays our funded amount plus the flat 2.5%.
- You net your assignment fee minus our repayment, the same day.
Your assignment fee must cover the funded down payment plus our 2.5% — we verify that before approval. Because volume is lower here, confirm your attorney handles investor assignments with funded down payment.
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 South Dakota closing attorney ready to disburse seller proceeds with Echo repayment included
No credit check, no income docs, no tax returns.
A typical South Dakota Echo scenario
A Sioux Falls wholesaler assigns a deal to a local landlord who is $12,000 short on the down payment. The wholesaler’s assignment fee is $18,000. We fund the $12,000 down payment into the attorney’s trust account. At closing, the attorney documents the $18,000 fee, repays us $12,000 plus the 2.5% fee ($300), and the wholesaler nets $5,700 with no cash out of pocket. The deal closes as one 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
South Dakota uses closing attorneys — can they handle an Echo disbursement? +
Yes. South Dakota is an attorney-closing state, so a closing attorney runs your file and disburses from a trust account per the settlement statement. For Echo, the attorney documents your assignment fee on the seller side and repays our funded down payment plus the flat 2.5% out of those proceeds. Because the attorney controls disbursement directly, the repayment is straightforward. Just confirm your closing attorney is comfortable handling an investor assignment with funded down payment.
Is Echo worth it on a smaller Sioux Falls deal? +
It can be. South Dakota deals are usually smaller than big-metro ones, so funded down payments tend to be modest — and because our fee is a flat 2.5%, the cost scales right down with the deal. The key is that your assignment fee covers the funded amount plus the 2.5%. On a typical Sioux Falls assignment that math often works fine. We confirm it before approving, and there is no minimum deal size or monthly volume.
How does South Dakota's wet-funding rule affect Echo timing? +
South Dakota is a wet-funding state, so the money must be in the attorney's trust account before disbursement. We fund the down payment into trust ahead of closing, and the attorney pays out per the settlement statement the same day — including our repayment from seller proceeds. With a complete file, standard turnaround is about 48 hours to wire-ready, and same-day funding is available for documents in before 11 AM Eastern.
Apply for Echo Funding in South Dakota
Submit your application online — same-day decisions for complete files before 2 PM Eastern.