EMD Funding in Detroit, MI | Swift Deal Funding
How EMD Funding Works in Detroit, MI
EMD funding wires your earnest money deposit — typically $5,000 to $25,000 — directly to the Detroit title company or closing attorney named in your contract, usually within 24 hours of a complete application and title confirmation. Swift Deal Funding is a direct lender: no credit check, no income verification, no tax returns, all 50 states. The deposit must be refundable under your contract’s due-diligence terms.
In Detroit, the play is volume and protection. With a citywide median near $90K and a steady stream of Wayne County tax-foreclosure and distressed inventory, active wholesalers lock multiple low-priced contracts at once. EMD funding keeps your capital free across that pipeline while the refundable structure shields you on properties that may have condition or redemption-related surprises.
How EMD Closes in Detroit
Michigan is a title/escrow, wet-funding state with no attorney mandate, so your Wayne County title company holds the EMD in escrow. We wire the deposit in, your closer confirms in writing it’s refundable per contract terms, and it sits in escrow until closing or release. At closing, the EMD applies toward your purchase or assignment.
Pricing
Two options on every EMD:
| Option | Upfront | At Close | Best For |
|---|---|---|---|
| A | 5% of EMD (min $500) | 20% of EMD | High close-through volume |
| B | 10% of EMD (min $1,000) | 0% | Predictable per-deal cost (most popular) |
A $5,000 EMD under Option B costs $1,000 total — paid once, nothing at closing.
What You’ll Need
- Executed purchase contract with refundable EMD language
- Detroit title company / closing attorney contact
- Written confirmation from title that the EMD is refundable
- Your ID
A Typical Detroit EMD Scenario
A wholesaler ties up a vacant Wayne County tax-foreclosure home near Bagley with a $5,000 earnest deposit and a 14-day inspection window. Rather than risk personal cash on a property that may have stripped mechanicals or a redemption cloud, they use Option B EMD funding: we wire $5,000 to their Detroit title company within 24 hours for a flat $1,000 fee. When the inspection reveals the home was scrapped and the deal won’t pencil, the refundable deposit returns — no personal capital lost.
Apply
Submit your contract and title contact online — under ten minutes. Same-day wire for complete files before 11 AM Eastern.
Frequently Asked Questions
Detroit deals are cheap — is EMD funding worth it here? +
For volume players, yes. Detroit's low prices mean per-deal earnest deposits are small, but active wholesalers run many contracts at once across Wayne County's tax-foreclosure and distressed inventory. Tying up $5,000–$10,000 of your own cash on each one drains capital quickly. EMD funding wires the deposit to your Detroit title company within 24 hours so your money stays free to chase the next East English Village or Bagley opportunity.
Should I keep an inspection contingency on Detroit's distressed inventory? +
Absolutely, and we require a refundable EMD with written confirmation from your title company. Detroit's stripped and vacant properties often hide condition problems — missing plumbing, fire damage, scrapped mechanicals — so a due-diligence contingency is essential. The refundable structure means if your inspection reveals a property isn't viable, or if a title issue tied to Michigan's redemption period surfaces, your funded earnest deposit comes back.
Does Michigan's redemption period affect EMD funding in Detroit? +
It can affect whether your deal closes, which is why the refundable structure matters. Michigan's six-month post-foreclosure redemption period can delay or cloud title on recently foreclosed Wayne County properties. We fund the earnest deposit to your title company regardless, but if a redemption or title issue prevents closing, the refundable EMD returns to us under the contract's terms. Confirm the property's redemption status with your title company early.
Apply for EMD Funding in Detroit, MI
Submit your application online — same-day decisions for complete files before 2 PM Eastern.