Real estate deal structures.

The creative-financing playbook for ISOs and brokers. Morby method, stack method, seller-carry, subject-to, wraps, sub-to + carry combos — explained and priced. Direct lenders on Ask Speedy filter by creative-structure tolerance so ISOs route deals only to lenders that will price them.

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The playbook

Six creative structures direct lenders price.

Morby method

Subject-to acquisition + seller-carry second. Buyer takes title with existing mortgage in place; seller carries the equity gap as a second-position note. Common in low/zero down strategies. Refinance takeout from direct lenders at stabilization.

Stack method

Multiple lenders or sources stacked on one deal — hard money first + seller-carry second + private money gap. Maximum leverage when a single lender can't fund the full deal. Direct lenders on the platform price stack-friendly products.

Seller financing (seller-carry)

Seller acts as the lender. Promissory note + deed of trust. Negotiable terms (rate, balloon, amortization). Often used on properties with motivated sellers or non-conforming financing scenarios.

Subject-to (sub-to)

Buyer takes title; seller's existing mortgage stays in place. Buyer makes payments. Refinance takeout from direct lenders eventually replaces the original seller as borrower. Powerful for distressed sellers or pre-foreclosure deals.

Wrap-around mortgage

New loan "wraps" the existing one. Buyer pays the wrap lender a single payment; that lender pays the underlying note. Used in seller financing where existing financing is below current market rate.

Combined / hybrid structures

Stack + sub-to + seller-carry combos. Speedy routes the package to direct lenders by structure compatibility — no wasted submissions to lenders who won't price the creative legs.

Where direct lenders fit

Lender roles in a creative-structure deal.

Structure	Direct lender role	When
Morby method	Refinance takeout (replaces sub-to + seller-carry combo)	At stabilization or per agreement
Stack	First-position lender, gap lender, or refi takeout	Acquisition + refi cycle
Seller financing	Refi takeout of seller note	When seller wants out, balloon comes due
Subject-to	Refi takeout, replaces original seller	Once equity is built or required by structure
Wrap	Direct lender pays off underlying loan + new wrap	Refi when wrap becomes inefficient

FAQ

Deal structures, answered.

What is the Morby method?

The Morby method (named for Pace Morby) combines subject-to acquisition with seller-carry financing. The buyer takes title subject to the existing mortgage and the seller carries a second-position note for the remaining equity. Combines low-down acquisition with seller-financing flexibility — common in zero-down investor strategies.

What is the stack method in real estate financing?

The stack method combines multiple lenders or sources on a single deal — for example, hard money first position + seller-carry second + private money gap funding. Stacks let investors maximize leverage when a single lender can't fund the full deal. Direct lenders on the platform price stack-friendly products.

Is seller financing legal in all states?

Yes, seller financing is legal in all 50 states, but specific structures (e.g. subject-to, wraps) have state-by-state regulatory considerations. Owner-occupied seller financing falls under Dodd-Frank rules with stricter requirements. Investor-to-investor seller financing has more flexibility.

What is subject-to acquisition?

Subject-to (also called sub-to) means the buyer takes title to the property and keeps the seller's existing mortgage in place — buyer makes payments but the loan remains in seller's name. Speedy direct lenders can underwrite refinance takeouts to remove the original seller from the loan once equity is built.

Can direct lenders on Ask Speedy fund creative-structure deals?

Yes — many direct lenders on the platform underwrite creative structures including seller carry, sub-to refinance takeouts, stack lending positions, and wrap-around refinance. Speedy filters routing by lender's creative-structure tolerance.

Creative deals priced by direct lenders.

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Updated 2026-05-10