Echo Funding in Virginia | Swift Deal Funding
Echo funding in Virginia
Echo covers an end buyer’s down payment at the closing table and is repaid from the seller’s side of the settlement — for a wholesaler, that means your assignment fee. The buyer brings less cash, the deal closes, and our funded amount plus a flat 2.5% comes off your fee in the same disbursement. Funded amounts in Virginia typically run $20,000 to $80,000, with capacity to $10 million per transaction, and there’s no upfront cost.
Virginia’s price spread makes Echo especially useful. In the DC-metro corridor — Fairfax, Arlington, Loudoun — down payments on higher-priced homes can be steep, and Echo keeps the end buyer from stalling on cash. In Hampton Roads, where military-driven turnover keeps deal flow steady around Norfolk and Virginia Beach, Echo lets you stack more concurrent deals without parking your own money in each one.
How Echo closes in Virginia
Because Virginia is a wet-funding, CRESPA settlement-agent state, the office handling your closing can disburse against our wire at the table. We fund the down payment, the settlement agent applies it to the buyer’s side, then routes your assignment fee on the seller side — paying us back our principal plus 2.5% before your net comes out. No separate recording step is required for repayment; it all happens inside the single settlement disbursement. Confirm the disbursement sequence with your settlement agent or closing attorney up front.
Pricing for Echo funding in Virginia
Flat 2.5% of the funded amount. No application fee, no origination fee, no upfront cost — collected on the settlement statement.
A $20,000 funded down payment costs $500; a $50,000 down payment costs $1,250.
What you’ll need for Echo in Virginia
- Executed purchase contract
- Executed assignment contract that shows your assignment fee
- An assignment fee at least equal to the funded down payment plus 2.5%
- A Virginia settlement agent or closing attorney ready to disburse seller proceeds with our repayment built in
No credit, income, or tax documentation.
A typical Virginia Echo scenario
A wholesaler assigns a Chesapeake contract for a $28,000 fee. The end buyer’s lender needs $22,000 down but the buyer is short on cash. Echo funds the $22,000. At settlement, the agent disburses the $28,000 assignment fee, repays us $22,550 ($22,000 plus 2.5%), and the wholesaler nets $5,450 — without having fronted a dollar of the buyer’s down payment.
Apply for Echo funding in Virginia
Upload your purchase and assignment contracts online. We confirm the assignment fee covers the funded amount before approving. Standard turnaround is ~48 hours.
Frequently Asked Questions
How does Echo get repaid through a Virginia settlement? +
Echo funds the end buyer's down payment, and it's repaid from the seller-side proceeds — in a wholesale deal, that's your assignment fee. At a Virginia settlement, the agent disburses your assignment fee and routes our funded amount plus the 2.5% fee back to us in the same disbursement run. Because Virginia is a wet-funding state, the settlement office can disburse at the table without waiting on recording. Your assignment fee simply needs to be large enough to cover what we funded plus 2.5%.
Does my assignment have to show the fee for Echo to work in Virginia? +
Yes. We need to see the assignment fee on the executed assignment contract because that fee is our repayment source. The math has to clear: assignment fee greater than or equal to the funded down payment plus our 2.5%. This is common on Northern Virginia deals where strong spreads easily cover a down payment, and it also works in Hampton Roads where tighter margins still leave room when the down payment is modest. Confirm disbursement order with your settlement agent.
Should a Virginia wholesaler use Echo or Stack? +
Use Echo when the deal pays you a real assignment fee at settlement — that fee repays us directly, so there's nothing to record after closing. Use Stack when the structure includes seller financing and the down payment is covered by a seller carry-back note. Echo is the cleaner fit for straightforward Richmond or Virginia Beach assignments; Stack fits creative-finance deals. Both front cash at the table; they differ only in how repayment reaches us.
Apply for Echo Funding in Virginia
Submit your application online — same-day decisions for complete files before 2 PM Eastern.