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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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%
Loan Terms
6 months to 12 months
Origination Fees
1.25% to 2%
Lien Position
1st
What we do:
Fix and Flip Loans
Residential 1-4 Units
Minimum 640+ Credit Score Required
Short Term Financing up to 12 months
What we don’t consider:
100% Financing
Owner Occupied Homes
Multifamily 5+ Units
Commercial Properties
Credit Check Required

yes

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.
Prepayment Penalty

no

Maximum Leverage

Residential Fix & Flip
Max LTP: 90%
Max LTC: 100%
Max LTARV: 75%
Residential Rehab & Hold
Max LTP: 90%
Max LTC: 100%
Max LTARV: 75%

Friendly lending products designed to help you scale your real estate investing business. We are your partner and provide a seamless loan process with our reliable team of lending experts.

The Standard : Max LTC 83%, FICO 640+

Our core capital product and most popular loan, available to all of our borrowers. Members choose the Backflip Standard when looking for moderate leverage at the best possible price to boost total profit

Double Double: Max LTC 93%, FICO 670+

A high-leverage loan for experienced investors on high quality deals, where Backflip originates 1st- and 2nd-lien loans (also known as mezzanine financing). Members choose The Double Double to minimize cash-to-close and increase leverage, to juice ROI on slam-dunk deals.

Zero Gravity: Max LTC 96%, FICO 670+

Our highest LTC loan designed to help pro real estate investors minimize total cash required, and manage cash flow during a flip. No upfront-fees, no monthly interest payments—we just roll it all into the loan repayment at completion of your six-month project. Great for that feeling of lightness!

 

Note: Stated LTC’s above include both the purchase costs and the rehab budget costs. 

Property Types

  • 2-4 Units Residential
  • Condominium
  • Single Family Residence

Loan Types

  • Residential Fix and Flip
  • Residential Rehab and Rent
Borrowers will need a minimum 10% cash down payment, and it could be higher depending on the deal.

Max Loan-to-Purchase Price

90%

Borrower Must Have Property Under Contract

yes

Will Provide Proof of Funds Letter

no

Will Consider Lending on Purchase from Auction

no

Allowed Source of Borrower’s Equity

  • Own Cash
  • Partner
  • Seller Financing
  • Gap Lender
100% of rehab budget is held back and funded as work is completed.

Experience Required

no

Minimum Number of Value-Add Projects Completed by Borrower

0

Will Provide Funds for Renovation Costs

yes

Max LTC for Renovation Costs

96%

Interest Charged for Renovation Costs

Entire Amount of Total Project Costs

Typical Number of Days for Funds Draw

0

Maximum After Repair Value

75%

Details and Requirements

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

4

Will lend to a foreign national

no

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

no

Will Consider Collateralizing Multiple Properties in One Loan

no

Will Consider Equity Joint Venture

no

Borrower Entity Types Considered
  • LLC
  • Limited Partnership
  • Corporation
Documentation Required
  • Credit Report
  • Bank Statements
  • Loan Application
Personal Guaranty (Recourse) Required
Always
Minimum Credit Score Required

640

Appraisal Required for Residential Property

Always

Broker Price Opinion (BPO) Accepted for Residential Property

Never

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 Testimonials

More than a lender

Jay (18 flips with Backflip)

"The way Backflip moves is different, more like a community. I think of Backflip more like a partner than a lender."

Dallas, TX

Contact Backflip

Backflip pays us to be listed, so there is no fee to connect with them directly.
Send email Create a Loan Request

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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.

License

NMLS ID 2482717, CFL 60DBO-183949 (Double Backflip, LLC)

Company Size (Number of Employees)

75

Year Established

2022

Office Locations

Denver, Colorado

Primary Capital Source
  • Debt Fund We Manage
Percentage of Loans Secured by Residential Property

100%

Total Number of Loans Funded to Date

1,200

Total Loan Volume Funded to Date

$256,000,000

Our Team

Josh Ernst

Founder & CEO

Jake Rome

Founder & COO

00:01:17

Backflip Celebrates $15M Series A Funding
00:01:15

Behind The Flip | Denver - Derek Marlin
00:01:35

Demo Day Dallas Event: Knocking Down Walls & Building Portfolios
00:02:08

Why Do You Love Backflip? | Real Estate Investing App

Contact Backflip

Backflip pays us to be listed, so there is no fee to connect with them directly.
Send email Create a Loan Request

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Receive our monthly newsletters with valuable insights and industry updates
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BEFORE YOU CONTACT THIS LENDER

Our Minimum Loan Amount Is

$75,000

What we do:
Fix and Flip Loans
Residential 1-4 Units
Minimum 640+ Credit Score Required
Short Term Financing up to 12 months
What we don’t consider:
100% Financing
Owner Occupied Homes
Multifamily 5+ Units
Commercial Properties

Contact Backflip

Backflip pays us to be listed, so there is no fee to connect with them directly.
Send email Visit Website

Create a Loan Request

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Send an email to Backflip