Flyhomes offers wholesale bridge loans and cash‑offer financing that let homebuyers purchase a new property before selling their current one, removing the existing mortgage from debt‑to‑income calculations. Its cloud‑based platform provides automated underwriting, real‑time pricing, and tools for loan officers and agents to generate instant equity and backup contract options, enabling contingency‑free offers.
Funding
$15M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Homebuyers often must sell their current residence before they can secure financing for a new one, leading to double moves, rushed sales, and reduced purchasing power. Traditional financing treats the existing mortgage as debt, limiting loan eligibility and making cash‑like offers difficult in competitive markets. Real estate agents and loan officers consequently lose listings and deals when buyers cannot present strong, contingency‑free offers.
Solution
Flyhomes provides a suite of wholesale‑lending products that let buyers purchase a new home before selling their current property, eliminating the need for a double move. The Buy Before You Sell program offers a short‑term bridge loan that excludes the existing mortgage from the debt‑to‑income calculation, expanding qualified loan amounts. Flyhomes Cash Offer converts a financed bid into a cash‑equivalent offer, improving competitiveness in bidding wars. Instant Equity unlocks home equity for down‑payment and closing costs without requiring an immediate sale. A Guaranteed Backup Contract secures a pre‑approved backup offer on the seller’s home, ensuring a safety net if the primary sale stalls. All solutions are delivered through a cloud‑based platform with automated underwriting, real‑time pricing, and integrated marketing resources for loan officers and agents, enabling a single, stress‑free move.
Target Audience
Primary customers are homebuyers seeking to buy before they sell, as well as loan officers and real‑estate agents who want to close more transactions by offering flexible financing solutions.
Features
- Bridge loan that temporarily finances the new purchase while the current home remains on the market, with no prepayment penalties.
- Cash‑like offer engine that generates all‑cash bids, allowing as little as $0 out‑of‑pocket at closing.
- Instant Equity feature that taps existing home equity for down‑payment or closing costs without a sale contingency.
- Guaranteed Backup Contract that places a backup offer on the seller’s property, protecting against failed sales.
- Automated underwriting and real‑time loan pricing via a secure cloud platform, reducing manual processing time.
- Integrated online calculator and scenario submission tool for loan officers and agents to generate customized quotes instantly.
- Conflict‑free wholesale partnership model with no in‑house loan officers, preserving client relationships for partners.
- Marketing kit and resource hub providing customizable collateral, webinars, and product request forms to support partner outreach.