Backflip for Rhode Island investors
Backflip combines hard money lending with deal-analysis tools — particularly useful for newer investors wanting integrated underwriting support.
Rhode Island context
Rhode Island triple-decker market. Strict landlord-tenant.
How Backflip positions in Rhode Island
Rhode Island is well covered by national DSCR lenders, with Backflip as one option. Where Backflip differentiates: tech-forward. Where it competes: rates 9.99 to 11.99 percent against peer programs.
City-level coverage in Rhode Island
Backflip provides DSCR coverage across Rhode Island metros including Providence, Warwick, and Rhode Island. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Backflip program terms apply uniformly across Rhode Island 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 |
| Rhode Island property tax | 1.5% |
| Rhode Island state income tax | 5.99% |
Backflip strengths in Rhode Island
- tech-forward
- deal analysis tools
- newer investor friendly
Ideal borrower: Newer investor needing deal analysis tools alongside financing
FAQ
Yes, operates nationally including Rhode Island. Backflip is based in Denver, CO and operates nationally.
Providence is the top investor market in Rhode Island and falls within Backflip national coverage. Providence property tax follows the Rhode Island state rate of 1.5 percent. Backflip typically underwrites Providence acquisitions at standard rate sheets.
Yes. Warwick ranks among the larger Rhode Island investor metros and sees consistent DSCR loan volume from Backflip. Submarket variation within Warwick matters for property selection.
Backflip applies the same rate sheet across Rhode Island metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Providence, Warwick, and Rhode Island all qualify for the same Backflip program.
Backflip indicative DSCR rate range is 9.99 to 11.99 percent with 1 to 3 points.
Rhode Island triple-decker market. Strict landlord-tenant. Backflip follows standard business-purpose loan structures.
Backflip funds fix-and-flip, BRRRR, bridge in Rhode Island.
Rhode Island allows standard DSCR prepay structures; Backflip typically uses 3-5 year step down.
Backflip typical close: 5-10 days typical.
Bottom line
Backflip in Rhode Island 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.