Calvert Home Mortgage provides real estate financing for properties in Alberta
Flip or rehab
Are you or your client the type of investor who has a keen eye for a good deal on a property that could use some TLC? If you’re looking to put some elbow grease (or somebody else's) into a property renovation, flip it for a profit, or add it to your rental portfolio, this ones for you.
Condition of the property may deter some lender's
Good deals sell fast; you need to close quickly
Other lenders will only lend on the current value of the property
Many loans are too short of a term
Traditional financial institutions have payout penalties and other restrictive penalties
We offer open short term mortgages at 80% LTV on the after repaired value of the property. This means we will consider and lend on what the property will be worth after all renovations are completed, not only what it is worth before the fix. The minimum a borrower needs to invest in a down payment is $10,000! This leaves the necessary cash in the borrower's pocket to complete the renovations and potentially invest in other flip projects. We perform our own in-house evaluations of the property, and perform our own legal work, both of which are at no cost to our clients. We have decades of experience helping clients invest in real estate, and we'd like to help. We have no limit on the number of properties we lend on, and we close fast!