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Backflip

Backflip, based in Denver, Colorado, is a private lender focused on financing residential fix-and-flip projects across urban and suburban areas nationwide. They offer loans from $75,000 to $2,000,000 with 6-12 month terms, funding 100% of rehabilitation costs for residential properties.

Direct Lender for Fix and Flip Investors 

We provide comps, capital and community as your partner in scaling your REI business. Our Fix and Flip loan products are designed to be fast and friendly, with the ability to fund 100% of renovation costs. These loan products offer 6-12 month terms and LTC varies based on investor experience level.

  • Residential properties only (1-4 units)
  • Exit strategy can be a sale or refinance for long-term rentals
  • 10% Minimum down payment required
  • We fund 100% of the rehab budget
  • 640 Minimum FICO score required

Download our app to utilize our Analyzer calculator and pull the latest MLS comps based on your investing strategy, and never miss the perfect deal with My Leads that surfaces the best opportunities daily in your defined buy box.

Please note: We do NOT offer bridge or ground-up construction loans. We are 100% focused on financing residential rehab projects.

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Common Loan Scenarios
  • Fix and Flip Loans
  • Residential 1-4 Units
  • Minimum 640+ Credit Score Required
  • Short Term Financing up to 12 months
Scenarios Not Considered
  • 100% Financing
  • Owner Occupied Homes
  • Multifamily 5+ Units
  • Commercial Properties

Details and Requirements

Property Geographic Area Details

Nationwide except 6 states: ID, NV, ND, SD, UT, VT. We consider urban and suburban areas only.

Loan Amounts

$75,000 to $2,000,000

Interest Rates

9% to 13%

Origination Fees

1.25% to 2%

Loan Terms

6 to 12 months

Lien Position

1st

Credit Check Required

yes

Credit Check Details

Minimum 640 FICO score required. Credit reports must be initiated by Backflip and obtained within 90 days of loan origination. Pricing will vary based on the borrower's credit score.

Minimum Credit Score Required

640

Prepayment Penalty

no

Payment Structure
  • Interest Only
  • No Monthly Payments Required
Maximum Units for Multifamily Properties

4

Personal Guaranty (Recourse) Required
Always
Borrower Entity Types Considered
  • LLC
  • Limited Partnership
  • Corporation
Documentation Required
  • Credit Report
  • Bank Statements
  • Loan Application
Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

Will Consider Collateralizing Multiple Properties in One Loan

no

Will lend to a foreign national

no

Will Allow Junior Position Mortgage(s) Behind Our Senior Mortgage

no

Will Consider Equity Joint Venture

no

Collateral Types
  • Residential Property
Loan Purpose
  • Investment Acquisition
  • Improve Subject Property
  • Value Add Project
Property Occupancy
  • Vacant
  • Tenant Occupied 100%

Legal Disclaimer

Backflip originates loans through its subsidiary, Double Backflip, LLC. NMLS ID # 2482717.

Backflip’s Lending Activity
Data Provided By Elementix
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12mo Loan Volume

$208,411,624

12mo Loan Count

783

Total Loan Volume

$854,227,940

Average Loan Size

$253,480

Loan Count by State (Past 12 Months)
TX: 279, LA: 10, FL: 120, CO: 31, OH: 91, PA: 59, IL: 61, NC: 52, GA: 47, NY: 33
Data provided by Elementix | Disclaimer

Backflip is a real estate financial technology company that supports entrepreneurs to acquire and renovate single family homes, thereby reinvigorating the housing supply and their local communities. The company offers purpose-built technology and capital products to source, analyze and finance residential real estate investments. Backflip is an all-in-one platform providing entrepreneurs with the technology, data, and financing strategies that allows them to scale their businesses.

Office Locations

Denver, Colorado

Connect with Backflip:

Our Team

Josh Ernst

Founder & CEO

Jake Rome

Founder & COO

Info Our minimum loan amount is $75,000

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