Stack Funding in Chicago, IL | Swift Deal Funding
Stack Funding in Chicago, IL
Stack funding — built on the Morby Method — supplies the cash a Chicago closing needs at the table when a seller carry-back note covers the buyer’s down payment but the closing still requires real funds to complete. The recorded seller-carry note then repays our funds plus a flat 2.5%, often same-day. It’s the right tool for creative-finance and subject-to deals across Chicago, where equity-rich, long-time owners — paid-down two-flats in Humboldt Park, Austin, and Chatham — often prefer steady payments over a full cash payout. Capacity runs up to $10 million per transaction.
Stack has an added advantage in Illinois: it leans on a seller-financed acquisition where title moves and a note is recorded, rather than a contract assignment. Since the Real Estate License Act’s one-property-per-year cap targets assignment activity, Stack generally operates outside it the way a double close does — though you should confirm your specific structure with an Illinois real estate attorney.
How Stack funding closes in Chicago
Illinois is a wet-funding, title-company state — the title and escrow office conducts the closing and records the seller-carry second-position note. The seller agrees to a carry-back covering the down payment and costs. On closing day we wire the cash needed at the table; the title company closes the deal, records the note in second position, and that note repays our funds plus 2.5% — typically same-day through escrow. Standard turnaround is about 48 hours from a complete file. Confirm in writing that the title office will record the note as agreed.
Pricing
Flat 2.5% of the funded amount, collected through the settlement statement. No upfront fees.
| Funded amount | Fee |
|---|---|
| $40,000 | $1,000 |
| $80,000 | $2,000 |
| Up to $10,000,000 | 2.5% flat |
What you’ll need
- Executed purchase contract with seller-financing terms
- A carry-back amount that covers the required down payment plus closing costs
- A Cook County title company ready to record the second-position note immediately after closing
- Written confirmation from the title office that the note will be recorded as agreed
No credit check, income verification, or tax returns. Local note: Stack’s seller-financed, title-taking structure generally sits outside Illinois’s one-property assignment limit, but confirm with an Illinois real estate attorney.
A typical Chicago Stack scenario
An equity-rich owner of a $280,000 Humboldt Park two-flat agrees to a subject-to/seller-carry deal. The carry-back covers the $40,000 the buyer would otherwise bring as a down payment, but the closing needs that cash present to fund. We wire $40,000 on closing day; the Cook County title company closes the deal, records the second note, and it repays us $40,000 plus a $1,000 fee (2.5%) — typically same-day. The seller collects payments, the buyer needed little cash, and you keep the spread on a seller-financed acquisition.
Apply
Send your purchase contract and seller-financing terms online — we coordinate the carry-back recording directly with your Cook County title company.
Frequently Asked Questions
Does Stack funding intersect Illinois's wholesaler license limit in Chicago? +
Stack sits closer to a purchase than an assignment, which helps. The Real Estate License Act caps unlicensed wholesalers at assigning one property per 12 months — that limit targets assignment activity. A Stack deal is a seller-financed acquisition where you (or your buyer) take title and a recorded second note covers the down payment, not a contract assignment. So Stack generally operates outside the assignment cap the way a double close does. Because creative-finance structures vary, confirm how the license law applies to your specific deal with an Illinois real estate attorney before you proceed.
Who records the second note on a Chicago Stack deal? +
Your Cook County title and escrow company records the seller-carry second-position note. Illinois is a wet-funding, title-company state, so the title office both conducts the closing and records the instrument — no separate attorney closing is required, though Illinois deals often involve attorney review. We provide the cash needed at the table on closing day, and the recorded second note repays our funds plus a flat 2.5%, often same-day through escrow. Confirm in writing that the title office will record the note in second position exactly as agreed before scheduling.
What Chicago deals fit Stack funding? +
Stack fits creative-finance structures where a motivated seller carries back a note covering the buyer's down payment, but the closing still needs real funds at the table. In Chicago that comes up with equity-rich owners — long-time landlords with paid-down two-flats in Humboldt Park or Austin who'd rather collect payments than cash out. Stack also helps because it leans on a seller-financed acquisition rather than an assignment, which sits better with Illinois's license limit. If there's a large assignment fee instead, Echo may fit — within the cap. We never pull credit, income, or tax records.
Apply for Stack Funding in Chicago, IL
Submit your application online — same-day decisions for complete files before 2 PM Eastern.