Backflip Rewards: The More You Flip, the More You Save

Introducing Our Most Generous Rewards Program Ever

You spoke, and we listened: Minimize cash to close. 

Our members help us grow, and we want to help you grow. So when you told us that cash to close was most important when closing deals, we recast the Backflip Rewards program to slash origination fees and bring down your closing costs.

Now you can get thousands of dollars off closing costs with Backflip—saving as much as 0.75% bps of your total origination fees. Read on to learn how.

About Origination Fees

All hard money lenders charge an origination fee for the work of issuing a loan, paid when you close on the property, and calculated as a percentage of the loan amount. (Also called “points” or “bps”; if a lender says they charge ‘two points’, or ‘200 bps’, it means an origination fee of 2%.)

Typical origination fees are between 2-3% of the loan amount. Backflip charges between 1.25 and 2%, but now our Rewards program allows you to reduce that significantly.

Rise Through the Ranks

Backflip’s new Rewards program is tier based. Your point count puts you in a tier, from Bronze up to Diamond. With each tier you reach, you get a discount on the origination fee charged for your next deal—up to 80% of your origination fee. Here are the tiers.

Even simply signing up from a referral code gets you to Bronze tier, which means a $400 savings on an average $300K loan. While a Diamond tier borrower taking a $300K loan gets to put $2,250 back in their pocket!

Each tier will come with other benefits, too—from dinner invitations and networking opportunities, to exclusive merchandise, to access to other loan products.

Save as You Grow

Backflip Rewards is designed to help you do more deals and grow your business. Members level up a tier by closing a loan. With each tier, your origination fee on your next deal is reduced further. The savings help you close more loans, taking you up to new tiers. In short, the more you flip, the more you save!

Members can also earn additional points by signing up from a referral code, and by inviting other investors who close deals. Thus the program aims to support your growth, and to reward you for referring others.

How to Earn Points

There are several ways to earn points:

-Closing your first loan with Backflip: 5,000 points

-Closing your 2nd loan with Backflip: 10,000 points

-Closing your 3rd loan with Backflip: 15,000 points

-Closing your 4th loan with Backflip: 20,000 points

-Closing your 5th and any subsequent loan with Backflip: 25,000 points

-Receive an invitation code to join Backflip from another member: 5,000 points

-Someone who used your invitation code closes on their first loan with Backflip: 5,000 points

How to Get Started

All Backflip members are automatically signed up for Backflip rewards. Sign into the Backflip app and tap the Rewards widget on the Home screen. You’ll see your Rewards dashboard (pictured) and your point count, with any points you have already accrued. 

Tap Earn Points and then Start a Loan or Refer a Friend and you’re on the path to more. Watch your points, and savings, stack up. Your next flip could be your most rewarding yet!

The program is designed for flexibility, so look out for us adding more ways for you to earn Reward points down the line. Now go out there and start flipping your way to big rewards!

If you’re that way inclined, check out the full Rewards Terms & Conditions here.