Flyhomes
Flyhomes is an AI-powered tool that transforms the process of buying and selling homes. It utilizes 950+ comparison points to provide insig...
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What is Flyhomes?
Flyhomes is a real estate technology company that provides a Buy Before You Sell solution through a wholesale lending platform. The company enables homebuyers to purchase their next home before selling their current one, eliminating the need for double moves or rushed sales. Flyhomes partners with loan officers and real estate agents to offer customizable financial products that empower clients to buy with confidence.
Key features include the Flyhomes Cash Offer (a short-term bridge loan enabling cash-like offers), Buy Before You Sell with Instant Equity (unlocking home equity without selling), and Buy Before You Sell with Guaranteed Backup Contract (lowering debt-to-income ratios). The program allows buyers to close in as few as 10 days, move directly into their new home, and sell their old home at full market value without rushing.
Flyhomes serves homebuyers who want to secure dream homes in competitive markets, loan officers who want to close more deals and earn broker fees, and real estate agents who want to empower buyers and win more listings. The company has funded $2.2B in loans, empowered 6,800+ homebuyers and sellers, and works with 30,000+ in-network loan officers across 40 states.
The platform excludes the current mortgage from Debt-To-Income ratios to maximize buying power, unlocks additional down payment from home equity, and makes financing offers as strong as cash. Flyhomes raised $190 million in venture capital and was founded in 2015 by Tushar Garg and Ryan Dibble who were frustrated with the traditional homebuying process.
Flyhomes pricing
Pricing model: Free
Flyhomes does not charge additional fees or servicing fees on top of traditional offer costs. The Flyhomes Cash Offer has no fees, additional costs, or lender requirements for borrowers. There are costs associated with closing on the short-term bridge loan, which are determined with the dedicated agent ahead of time. In Washington state, clients pay the full cost of the cash program but receive up to 0.75% cash rewards toward closing costs and per diem assessments, typically resulting in no additional costs. In California, the only cost is the per diem (1/5000 of total purchase price per day) between when Flyhomes buys the home and when the buyer purchases from Flyhomes. Fees for Buy Before You Sell with Instant Equity are based on loan amount, not home value, with borrowers saving up to 80% vs competitors. The buy-side bridge loan requires only 5% down.
Flyhomes pros
- Buy next home before selling current one
- No double moves required
- Close in as few as 10 days
- Make offers as strong as cash
- Exclude current mortgage from DTI ratio
- Qualify for 40-50% more buying power
- Access equity before selling for down payment
- Move with as little as $0 out of pocket
- Only 5% down payment required
- No prepayment or early payoff penalties
- Guaranteed backup contract on departing home
- No in-house loan officers - clients stay with your agency
- Customizable marketing support for agents
- Available in 40 states with more coming
- $6.7B+ total real estate transaction volume
- Cash offer guarantee - Flyhomes buys if buyer can't
- Earn additional broker fees for loan officers
- Sell old home at full market value without rushing
Flyhomes cons
- Subject to qualification and approval
- Terms vary based on individual circumstances
- Requires refinancing bridge loan into long-term mortgage
- Costs associated with closing short-term loan
- Interest rates and conditions may vary
- Wholesale model - not direct consumer-facing in all markets
- Bridge loan interest costs during possession period
- Must submit current home for program approval first
Frequently asked questions about Flyhomes
What is Flyhomes Buy Before You Sell?
Buy Before You Sell is Flyhomes' flagship solution that allows homebuyers to purchase their next home before selling their current one. The program uses a guaranteed backup contract on the departing residence, giving buyers up to 90 days to sell after closing on the new home. This excludes the current mortgage from the Debt-To-Income ratio, enabling buyers to qualify for 40-50% more. Buyers move directly from their current home to the new one without double moves, then sell their old home at full market value without rushing.
What is a Flyhomes Cash Offer?
A Flyhomes Cash Offer is a short-term bridge loan offered by Flyhomes Mortgage, LLC that enables buyers to make cash-like offers in competitive markets. The property and buyer are pre-approved ahead of time, allowing closing in as few as 10 days. Unlike traditional cash offers, Flyhomes guarantees it will purchase the home at the agreed price if the buyer needs to back out for any reason. After closing, buyers can refinance the short-term loan into a long-term mortgage with a lender of their choice.
How much does it cost to use Flyhomes Buy Before You Sell?
Flyhomes does not tack on additional costs or servicing fees beyond traditional offer costs. For the Cash Offer program, there are closing costs on the short-term loan determined with your agent. In Washington, clients receive up to 0.75% cash rewards toward closing costs that typically exceeds program costs. In California, the only cost is per diem at 1/5000 of the purchase price daily. Buy Before You Sell with Instant Equity fees are based on loan amount (not home value), saving borrowers up to 80% vs competitors.
How does Flyhomes help buyers qualify for more?
Flyhomes places a Guaranteed Backup Contract on the borrower's current home, which allows underwriters to exclude that existing mortgage from the buyer's Debt-To-Income ratio. This exclusion enables homebuyers to qualify for 40-50% more for their next home. Additionally, buyers can access their current home's equity before selling to use as down payment and closing costs, further increasing purchasing power without needing to liquidate investments.
Who is eligible for Flyhomes programs?
All Flyhomes Mortgage products are subject to qualification and approval. Eligibility depends on various factors including credit and financial situation, but Flyhomes helps find the best solution regardless of circumstances. Buyers must get pre-approved through preferred lenders to determine traditional loan eligibility first. The current home must be submitted for program approval. Terms, interest rates, and conditions vary based on individual circumstances. Flyhomes operates in 40 states with a wholesale lending platform partnering with loan officers and agents.
When do I own and move into my new home?
You take title and ownership of the home at the closing of your short-term loan, which can happen in as few as 10 days after having a fully executed Purchase and Sale Agreement. Once you've closed on the loan, you can move in immediately. This allows buyers to move directly from their current home to the new one without double moves, then sell their old home at leisure at full market value without rushing or settling for less.
Can I combine Flyhomes Cash Offer with Buy Before You Sell?
Yes. Under the Flyhomes Buy Before You Sell program, you can use a Flyhomes Cash Offer for the home you're buying to increase your competitive advantage. This combination allows you to make a cash-like offer on the new home while simultaneously having the security of the Buy Before You Sell program for your departing residence, maximizing both your winning power and flexibility.
What states is Flyhomes available in?
Flyhomes' Buy Before You Sell solution is available in 40 states through its wholesale lending platform, with more states coming soon. The Flyhomes Cash Offer program is currently available in Washington, Texas, California, Colorado, and Oregon, and is coming soon to Massachusetts, Utah, Maryland, Virginia, and Washington D.C. The company shifted to a wholesale model in 2025, allowing it to offer solutions anywhere it holds a lending license.
How does Flyhomes work with loan officers and agents?
Flyhomes operates as a conflict-free wholesale partnership with no in-house loan officers, ensuring clients stay with their original loan officer always. Loan officers close more deals, earn additional broker fees, and grow their referral network. Real estate agents empower buyers, win more listings, and close faster. Partners receive customizable marketing resources to grow their business. Flyhomes works with 30,000+ in-network loan officers and has funded $2.2B in loans through these partnerships.
What is the Guaranteed Backup Contract?
The Guaranteed Backup Contract is a bonafide backup offer Flyhomes provides on the departing residence, giving buyers up to 90 days to sell their home after closing on the new home. This contract allows underwriters to exclude the existing mortgage from the buyer's DTI calculation, helping them qualify for more. It also provides security for sellers since Flyhomes guarantees it will purchase the home even if the buyer can't, providing guaranteed funds and making the offer as certain as traditional cash.