Backflip for Illinois investors
Backflip combines hard money lending with deal-analysis tools — particularly useful for newer investors wanting integrated underwriting support.
Illinois context
Illinois property tax burden second-highest in nation. Chicago south/west neighborhoods produce strong DSCR cash flow with Section 8 vouchers. Cook County investor-class tax assessment.
How Backflip positions in Illinois
Within Illinois, Backflip competes alongside other DSCR lenders. Backflip strengths: tech-forward, deal analysis tools. The medium aggregate DSCR economics of Illinois create demand for Backflip programs in Chicago and Springfield particularly.
City-level coverage in Illinois
Backflip provides DSCR coverage across Illinois metros including Chicago, Springfield, and Peoria. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Backflip program terms apply uniformly across Illinois metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | fix-and-flip, BRRRR, bridge |
| Loan size | $50K - $2.5M |
| Rates | 9.99%-11.99% |
| Points | 1 - 3 |
| Max LTV | 85% of ARV |
| Term lengths | 12 months |
| Typical close time | 5-10 days typical |
| Illinois property tax | 2.3% |
| Illinois state income tax | 4.95% |
Backflip strengths in Illinois
- tech-forward
- deal analysis tools
- newer investor friendly
Ideal borrower: Newer investor needing deal analysis tools alongside financing
FAQ
Yes, operates nationally including Illinois. Backflip is based in Denver, CO and operates nationally.
Chicago is the top investor market in Illinois and falls within Backflip national coverage. Chicago property tax follows the Illinois state rate of 2.3 percent. Backflip typically underwrites Chicago acquisitions at standard rate sheets.
Yes. Springfield ranks among the larger Illinois investor metros and sees consistent DSCR loan volume from Backflip. Submarket variation within Springfield matters for property selection.
Backflip applies the same rate sheet across Illinois metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Chicago, Springfield, and Peoria all qualify for the same Backflip program.
Backflip indicative DSCR rate range is 9.99 to 11.99 percent with 1 to 3 points.
Illinois property tax burden second-highest in nation. Chicago south/west neighborhoods produce strong DSCR cash flow with Section 8 vouchers. Cook County investor-class tax assessment. Backflip follows standard business-purpose loan structures.
Backflip funds fix-and-flip, BRRRR, bridge in Illinois.
Illinois allows standard DSCR prepay structures; Backflip typically uses 3-5 year step down.
Backflip typical close: 5-10 days typical.
Bottom line
Backflip in Illinois works for the right borrower-deal combination. Match the lender to your deal characteristics.
Independent directory listing. DSCR Loan Program is not affiliated with Backflip.