EMD Funding in Chattanooga, TN | Swift Deal Funding
EMD Funding in Chattanooga, TN
EMD funding covers the earnest money deposit on your Chattanooga contracts — typically $5,000 to $25,000 — wired to your title company within about 24 hours so you can lock up a property without spending your own cash. As Gig City redevelops, well-priced homes in the Southside, St. Elmo, and East Chattanooga move fast, and good deals can draw competing offers. 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 Chattanooga
Tennessee is a title/escrow, wet-funding state, so your earnest money is held by the closing escrow agent — a licensed Chattanooga title company, no attorney required. We wire the funded EMD straight to that title office, where it sits in escrow under your contract, never released to the seller before closing. Because Chattanooga borders Georgia, confirm the closing state on any border-area property. We need written confirmation from title that the EMD is refundable per your terms before we fund; confirm refund handling and any non-refundable date with title 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 $10,000 Chattanooga EMD on Option B costs $1,000 total, paid once, with nothing due at closing.
What you’ll need
- Executed purchase contract with refundable EMD language
- Chattanooga title company / escrow contact
- Written confirmation from title that the EMD is refundable
- Your ID
No credit, income, or tax docs.
A typical Chattanooga EMD scenario
You go under contract on a $295,000 home in East Chattanooga that’s drawing interest as the area turns around. The seller wants $10,000 earnest money to hold it. Rather than commit your own cash while you shop it to your buyer list, you order EMD funding. We wire $10,000 to the Chattanooga title company within 24 hours; on Option B your cost is $1,000, paid once. If due diligence kills the deal, the deposit comes back refundable.
Apply
Submit your contract and title contact online — under 10 minutes. Same-day wire possible before 11 AM Eastern.
Frequently Asked Questions
Why do Chattanooga wholesalers use EMD funding? +
Gig City's redevelopment keeps well-priced inventory in the Southside, St. Elmo, and East Chattanooga moving quickly. EMD funding lets you put real earnest money behind contracts to secure properties while you line up end buyers — without draining your own cash. We send the deposit, typically $5,000–$25,000, to your Chattanooga title company within about 24 hours, and it stays refundable under your contract's inspection or due-diligence terms.
Who holds the earnest money on a Chattanooga deal? +
In Tennessee the earnest money goes to the closing escrow agent — a licensed Chattanooga title company, with no attorney-closing requirement. We wire the funded EMD directly to that title office, not to the seller, held in escrow per your contract. If the property sits across the line in North Georgia, the closing may differ, so confirm the closing state. Before we fund, we need written confirmation from title that the deposit is refundable under your contract terms.
How fast can you fund earnest money on a Chattanooga contract? +
We wire the EMD to your Chattanooga title company within about 24 hours of a complete application and title confirmation. 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 title contact, and ID. No credit check, no income verification — the deal documents underwrite the funding.
Apply for EMD Funding in Chattanooga, TN
Submit your application online — same-day decisions for complete files before 2 PM Eastern.