Wondering how to get started with Flipside? Trying to see if you qualify for one of our loan programs? We’ve compiled a list of our most frequently asked questions below.
Flipside typically requires a minimum FICO of 660 and verifiable experience completing 3+ successful projects in the past 36 months. Borrowers with a FICO between 660 and 680 are subject to additional review and approval. Borrowers with no experience may qualify with lower leverage or by adding a partner, general contractor, or guarantor.
Flipside allows up to 95% LTC and 75% LTARV on light rehab deals for institutional borrowers, and up to 85% LTC and 75% LTARV for ground-up construction. Lower limits apply for less experienced borrowers or in higher-risk scenarios.
Light rehab loans cover cosmetic or minor repairs under 30% of the purchase price or AIV. Heavy rehab involves major renovations, structural changes, or additions exceeding 30% of purchase price (or AIV), or adding >25% square footage. Ground-up construction is for building new structures from vacant land.
Construction draw requests are submitted through Flipside’s system with line-item details from the approved Scope of Work. Funds are released after inspection, lien waivers, and documentation review.
Closing timelines are deal-specific, depending on borrower responsiveness, appraisal timing, and deal complexity. Flipside’s priority is to close quality transactions as quickly as possible.
Clients must borrow through an LLC or other business entity. Flipside only offers business-purpose loans and does not lend to individuals for personal or consumer use.
Assignment and wholesale fees must be disclosed upfront and are included in the purchase price for LTC calculations. Undisclosed fees or daisy chains raise compliance and fraud concerns and may invalidate the loan.
Common reasons deals are declined include poor credit (<660 FICO), lack of borrower experience, inflated ARVs, insufficient liquidity, rural or low-demand locations, heavy rehab without permits, or unrealistic timelines or exit strategies.
No, Flipside does not require income verification or tax returns. Loans are underwritten based on asset value, borrower experience, credit, and exit strategy, not personal income.
Flipside requires borrowers to have cash to close, plus at least 10% of the rehab budget and six months of interest payments, unless interest is reserved in the loan.
A fix and flip project involves purchasing, renovating, and reselling a 1–4 unit property. Permits are required for major rehab, structural, or safety work. Light cosmetic rehab may proceed without permits if allowed locally.
Yes. Flipside offers up to 100% financing of the rehab budget for experienced investors, subject to LTC and LTARV limits. Draws are reimbursed after inspection and documentation.
ARV is based on a third-party appraisal that includes the scope of work, local market comps, and a certified estimate of the property’s post-renovation value. Overstated ARVs are flagged, especially if they exceed 2x the ZIP code median.
Yes, wholesale or assignment fees can be included if disclosed and documented. The total purchase price (including fees) is used for LTC calculations. Undisclosed fees are not allowed and may void the loan.
Flipside generally avoids rural or certain ZIP codes due to limited resale demand and comp data. These areas often trigger layered risk flags and require strong compensating factors to qualify.
Ground-up construction loans require experienced or institutional borrowers, a maximum of 85% LTC, and full fund control. Borrowers must also have strong liquidity and be a credible builder.
Yes. For construction loans, LTC includes the land acquisition cost plus hard and soft construction costs. Land must be valued at purchase price or appraised value, whichever is lower. If the land is owned by the borrower, land equity can be contributed at appraised value and subject to credit approval and seasoning requirements.
No for purchases. Yes for refinances. Flipside typically wants to see issued permits and approved plans before funding ground-up construction loans. Only by exception, deals without plans/permits are subject to credit approval and, if approved, will receive a leverage cut.
Ground-up construction loans require builder’s risk insurance, general liability insurance, and flood insurance if applicable. The lender must be named as additional insured on all policies.
No. Flipside does not finance ground-up multifamily construction. Only 1–4 unit residential projects are eligible under current guidelines. We finance tract development of multiple homes (e.g. Build-To-Rent / Build-For-Sale strategies).
A DSCR loan is a rental property loan qualified by the property’s income, not the borrower’s. DSCR is calculated as monthly rent divided by the monthly loan payment (P&I or interest-only). A DSCR >1.00x indicates the property generates enough income to cover debt.
Flipside requires a lease agreement or market rent schedule from the appraisal (Form 1007). For short-term rentals are allowed with verification of proper comparables and subject to credit approval.
The maximum DSCR loan amount per investment property is typically $3 million. Higher amounts may be considered case-by-case with strong credit, DSCR >1.25x, and institutional sponsorship.
Yes. Flipside offers DSCR loans for both short-term vacation rentals and long-term leases. Short-term rentals require stronger DSCR, consistent income documentation, and may have additional underwriting requirements.
No. DSCR loans are for rent-ready properties. If renovations are needed, use a fix and flip or bridge loan first, then refinance into a DSCR loan once stabilized.
A bridge loan is short-term financing for acquiring or refinancing a property before a sale, rehab, or construction. Investors use bridge loans when plans or permits aren’t ready, or to unlock equity ahead of a longer-term exit.
Yes. Cash-out is allowed on bridge loans for experienced borrowers with strong credit.
No. Bridge loans do not require a rehab scope or ARV appraisal. They are underwritten based on as-is value and exit strategy, making them ideal for short-term holds, refinances, or acquisitions without immediate renovation plans.
Yes. Bridge loans are ideal for acquiring land or properties before permits and plans are ready. Once entitled, you can refinance into a ground-up construction loan with Flipside.
Yes. Properties in high-risk MSAs face a potential LTC reduction. Rural areas may be ineligible or require lower leverage due to resale risk and limited comps.
