Stack Funding in Illinois | Swift Deal Funding
Stack (Morby Method) funding in Illinois
Stack funding supplies the cash needed at the closing table when a seller carry-back note covers the buyer’s down payment but the title company still requires real funds to close. We wire that cash; the recorded second-position note repays us plus a flat 2.5%, frequently the same day.
In Illinois, Stack carries an extra advantage. Because it’s tied to a creative-finance acquisition where you take title — not to assigning a contract — it sits apart from the contract-resale activity the state’s wholesaling law restricts. Chicago, Cook County, and downstate markets all produce seller-finance opportunities. Funded amounts here typically run $30,000–$100,000, with capacity up to $10 million per transaction.
How a Stack deal closes in Illinois
Illinois is a wet-funding state, so the title company disburses at the closing table. For Stack, we provide the cash to close; title records the seller-carry note in second position and repays our funds plus 2.5% right out of the closing, often the same day — no waiting on post-recording disbursement.
The notable Illinois backdrop is the wholesaling law: the 2019 Public Act 101-0357 limits unlicensed individuals to one wholesale (contract-resale) transaction per 12 months, requiring a broker’s license beyond that. A Stack deal is a genuine purchase using seller financing, structurally different from assigning a contract, which is one reason creative finance appeals to Illinois investors managing the License Act. This is not legal advice — confirm your structure with an Illinois real-estate attorney. Illinois closes through title companies, which keeps the note recording coordinated in one place.
Pricing
Flat 2.5% of the funded amount, nothing upfront, collected on the closing statement:
| Funded amount | Fee |
|---|---|
| $50,000 | $1,250 |
| $100,000 | $2,500 |
| $500,000 | $12,500 |
| Up to $10,000,000 | $250,000 |
What you’ll need
- A signed Illinois contract spelling out the seller-financing terms
- A carry-back at least covering the down payment and closing costs
- An Illinois title company that can record the second-position note
- Title’s written confirmation the carry-back note will record as agreed
A typical Illinois Stack scenario
A burned-out landlord in Rockford agrees to sell subject-to and carry a note covering the $70,000 down payment. The title company still needs cash to close. Stack wires the $70,000; title records the carry-back note in second position and, because Illinois is wet-funding, repays our $70,000 plus the 2.5% fee ($1,750) right at the closing table. You acquire the property with none of your own cash, through a true purchase rather than a contract assignment.
Apply
Upload your Illinois contract and seller-financing terms online. We’ll coordinate the second-position note recording with your title company.
Frequently Asked Questions
Does Illinois's wholesaling law apply to a Stack deal? +
Stack is built around you actually buying the property with seller financing, not assigning a contract, so it sits differently from the activity Illinois's 2019 Public Act 101-0357 restricts. That law limits unlicensed individuals to one wholesale (contract-resale) transaction per 12 months and requires a broker's license beyond that. A creative-finance acquisition where you take title — subject-to or owner-financed — is a genuine purchase, not a contract flip. That's part of why some Illinois investors lean into creative finance. This isn't legal advice; confirm your structure with an Illinois attorney.
How fast does the second note repay in wet-funding Illinois? +
Quickly. Illinois is a wet-funding state, so the title company disburses at the closing table once funds and documents are in place. For Stack, we wire the cash to close, title records the seller-carry note in second position, and our funds plus the flat 2.5% are repaid out of the closing — often the same day. You don't wait on post-recording disbursement the way you would in a dry-funding state.
What Illinois deals fit Stack funding? +
Creative-finance structures where you acquire the property: subject-to deals, owner-financed purchases, and seller-carry arrangements where the carry-back note covers the down payment but the title company still needs real cash to close. These show up across the Chicago metro and downstate alike. Stack supplies the closing-table cash and is repaid from the recorded second note at a flat 2.5%, with capacity up to $10 million per transaction.
Apply for Stack Funding in Illinois
Submit your application online — same-day decisions for complete files before 2 PM Eastern.