We understand that short-term alternative mortgage lending can raise lots of questions. To support you in serving your clients with confidence, we’ve compiled answers to the most common inquiries about our processes, requirements, and lending guidelines. Transparency and clear communication are at the heart of what we do, and this guide will support you to better understand our offerings and policies so you can find the right solutions for your clients.

How quickly can you provide funding? 

Calvert Home Mortgage can typically provide a Commitment Letter within 1 business day, and funding on a rush basis in as little as 1-2 business days in Alberta and 1-3 business days in Ontario upon receiving all required documents.

This quick turnaround time allows you to serve your clients efficiently—whether they need fast financing for an investment property, a short-term solution, or a backup plan if another lender pulls funding at the last minute. Speed is key in real estate, and by offering flexible, reliable options, you can position yourself as the go-to expert your clients trust to get deals done.

Can the down payment, renovation costs, and carrying costs come from borrowed funds? 

Yes, we allow the down payment, renovation costs, and carrying costs to come from borrowed funds.

We do expect your client to invest some of their own funds and demonstrate the ability to cover our mortgage and any borrowed amounts. We also require transparency about the source of these funds. If they come at a cost, we’ll assess the payment obligations and ensure they align with our lending criteria. Gifted funds are accepted, as long as they are properly documented.

Our goal is to provide you with the flexibility to offer creative financing solutions for your clients while ensuring the financials align with our lending guidelines.

Do you provide renovation funds?

While we don’t directly fund renovations, we offer flexible solutions that allow your clients to access the capital they need. By using the equity from another property as security, your clients can access additional funds for renovations, larger down payments, or potentially lowering interest rates.

Our goal is to provide you with the tools and solutions you need to close more deals and strengthen client relationships. The loan-to-value (LTV) we consider on blanket properties depends on multiple factors, and we’ll work with you to find the best approach for your client’s needs.

We require proof of funds for:

• Down payment
• Renovations
• Closing and carrying costs

At Calvert Home Mortgage, we’re committed to helping you confidently serve your clients by providing fast, flexible lending options to keep their projects moving forward.

Is the down payment for a flip mortgage based on the purchase price or the after-repair value (ARV)?

For flip mortgages, the down payment is based on the property’s purchase price, not the after-repair value (ARV). This structure allows you to secure financing for your clients with a smaller upfront investment, freeing up more capital for renovations and improvements.

Our goal is to support you with the ability to provide competitive, flexible solutions that make sense for your clients. By basing the down payment on the purchase price, you can offer your clients a more predictable and accessible option, ensuring they can move forward with confidence and complete their projects successfully. This positions you as a trusted advisor who understands their needs and provides strategic solutions.

Do my clients have to pay the fee upfront? 

No, we don’t require any upfront fees. The fee is added to the mortgage and paid upon payout, allowing your clients to keep more cash on hand for renovations, carrying costs, or other investment needs.

As a mortgage broker, you’ll be compensated on the funding date, ensuring you receive payment when the deal closes.

What happens if your client’s mortgage extends past the 6-month term? 

We offer fully open mortgages with no prepayment penalties and a no renewal fee option for borrowers in good standing.

Our loans are typically designed to be short-term (12 months or less), but we understand that timelines can shift. If your client needs more time to exit through resale or refinancing, we can extend the loan to support their success. For loans extending beyond 12 months, we can transition the mortgage into an amortized loan.

This flexibility ensures your clients stay on track without the pressure of rigid timelines.

Where do you lend? 

We provide funding to qualified borrowers throughout Alberta and Ontario, focusing on areas with strong market demand, as follows:

• 100k+ population, or 25 KM driving distance within these city limits
• 50k+ population, or 10 KM driving distance within these city limits
• 10k+ population within city limits**
• Rural**

*Some restrictions apply.

**Increased rates and fees, as well as the possibility of reduced Loan to Value (LTV), apply.

Our approach ensures you can secure financing for your clients in high-opportunity markets while maintaining responsible lending practices.

Do you lend in small markets? 

For properties in small marketings (populations under 10,000), we may consider lending if another property in a larger center is used as additional security through a blanket mortgage. This enables your clients to leverage existing equity to secure financing while mitigating the risks of areas with fewer comparables and lower resale potential.

Do you lend on renovation-heavy properties? 

Yes! Properties with significant renovations are assessed based on after-repair value (ARV), allowing your clients to access more capital upfront. This allows you to offer more competitive financing solutions, helping your clients complete their projects while strengthening your business.

Do you offer financing for out-of-province borrowers? 

Yes, as long as the property is in Alberta or Ontario and your client is a resident of Canada. This expands your client base by allowing you to work with borrowers investing remotely. We’ll also ensure they have a clear plan for managing the project, helping them stay on track and maximizing their success.

What is the maximum Loan-to-Value (LTV) based on property type? 

LTV varies depending on the property and loan type and must include all associated fees. Our flexible options allow you to offer tailored financing solutions, helping your clients maximize their opportunities while ensuring you can support them with effective risk management.

Here’s a breakdown: 

• Single-Family Homes
  • In large or medium population markets (50,000+), the maximum LTV is 80%.
  • For Term Purchases, Debt Consolidation, and Equity Take Outs, the maximum LTV is 75%.
• Townhomes
  • In large or medium population markets, the maximum LTV is 80% ARV for Flip/BRRR mortgages.
  • For Term Purchases, Debt Consolidation, and Equity Take Outs, the maximum LTV is 75%.
• Condos
  • In large or medium population markets, the maximum LTV is 75%. We don’t typically lend on condos in small markets or rural areas due to lower marketability and higher volatility.

For Bridge mortgages, we can consider up to 85% LTV on firmly sold properties and up to 80% LTV on listed or conditionally sold properties. We will consider a Bridge even if your client’s property is still being listed on the MLS with a Licensed Real Estate Agent.

Why do you restrict lending on certain markets? 

We prioritize lending in markets with strong resale potential and liquidity to provide you with more reliable financing options for your clients. Markets that are smaller or less active can have slower sales, increasing the risk and tying up capital, which can impact the return on investment. By focusing on stronger markets, you can offer your clients faster, more predictable exit strategies, ultimately reducing risk and increasing your ability to close deals.

Do you fund multi-family or commercial properties? 

Yes, we provide financing for multi-family and select commercial properties, such as office and retail spaces. This enables you to support clients who are working to diversify their portfolios with income-generating projects. While we don’t fund industrial properties, this targeted approach ensures your clients can focus on high-demand property types with strong marketability, supporting their ability to build wealth through a balanced investment strategy.

What about properties with special circumstances, like post-tension units? 

We may consider these if a recent inspection confirms the structural integrity of the cables. The maximum LTV is capped at 70%, and we’ll need a clear exit strategy. If refinancing is part of the plan, we’ll need to ensure it can be successfully refinanced out of our loan.

These requirements support risk management while still being able to offer flexible solutions for challenging properties, ensuring better outcomes for you and your clients.

Why is getting pre-approved important? 

As a mortgage broker, securing pre-approval for your clients helps you lock in their business and stand out in a competitive market. A pre-approved client can act quickly, increasing their chances of securing profitable deals. By working with a lender that offers fast and flexible pre-approvals, you can provide a seamless experience, strengthen client relationships, and close deals with confidence – ultimately growing your business and reputation while ensuring your clients stay committed to working with you.

How long is a pre-approval valid? 

Our pre-approvals are valid for up to one year, providing flexibility for your clients while they explore multiple opportunities. This means you don’t have to start the process from scratch each time they find a new deal. If another project arises within that year, we only require updated documents to move forward, saving you time and effort while ensuring your clients stay with you for their financing needs.

What does pre-approval mean with Calvert Home Mortgage? 

Our pre-approvals focus on your client, not just the property. A pre-approval enables you to secure their commitment and close more deals. You’ll work directly with our decision-makers, the Underwriters. Property valuations are done in-house at no cost within 1-2 business days, saving you and your clients time and money while empowering them to act quickly on opportunities.

It’s important to note that a pre-approval is not a guarantee of a mortgage. It is a personal pre-approval that streamlines the process for your clients when they’re making a firm offer on a property. Final approval is subject to a full application review, property details, and underwriting requirements.

We require:

• Completed application
• Most recent Notice of Assessment (NOA)
• Credit check
• Proof of capital for Flip/BRRR projects

For mortgage brokers, this means you can get your clients pre-approved quickly while positioning yourself as a trusted advisor who delivers fast, flexible financing solutions.

What is the best way to submit an application? 

You can easily submit your application on Finmo (Lendesk), Filogix, and Velocity.

If you’d like to learn more about how we can support you and your clients, feel free to contact us directly – we pick up the phone and are always happy to chat!

• For Alberta inquiries, contact Kaelan Nelson.
  Email: kaelan@chmic.ca
  Cell: 587-585-4571
  Office Phone: 403-278-0249
• For Ontario inquiries, contact Dan Werner.
  Email: dan.werner@chmic.ca
  Cell: 368-992-1100
  Office Phone: 1-888-752-4642

How do in-house valuations work for mortgage applications? 

As a mortgage broker, you need fast, reliable property valuations to move deals forward efficiently. That’s why we have an expert team of in-house Real Estate Analytics who handle valuations, saving you and your clients time and money.

Instead of waiting for an appraisal, our team uses the direct comparison approach as an appraiser, analyzing recently sold comparable properties. These in-house valuations are free and typically completed within 1-2 business days, helping you close deals faster.

If your client is financing a flip, we’ll request a detailed renovation plan and budget to estimate the property’s after-renovation value – ensuring they get the financing they need upfront.

Appraisals are only required for properties valued over $1.5 million or multi-family properties with more than four units, reducing unnecessary delays.

Can all documents be signed remotely? 

Yes, we offer remote signing for convenience, ensuring a more effortless experience. We can authorize the lawyer to proceed with remote mortgage signing and attach Video Signing Affidavits, provided they comply with all relevant provincial guidelines (including legislation, land title, and law society rules). The lawyer must also report on their actions and provide all required signed documentation, along with proof of the signing process.

This option is part of our commitment to making you and your client’s experience as smooth and efficient as possible.

What if your client owes taxes? 

We understand that tax balances can be a common hurdle in securing financing. Here’s how we work with you and your clients to keep deals moving:

• Personal Taxes: A balance may be acceptable, but if it is significant, we will need to understand the reason and your client’s plan for repayment. Our goal is to provide solutions that support their long-term financial success.
• Sole Proprietors & Corporate Taxes: Outstanding GST/HST and Excise Tax must be settled before funding. This ensures deals move forward smoothly, without financial roadblocks.

At Calvert Home Mortgage, we focus on delivering a better mortgage experience – built on trust, transparency, and results. We’re known for our low-stress, common-sense approach and aim to deliver fast, flexible, reliable solutions for short-term mortgage needs. Whether it’s navigating the pre-approvals or addressing unique property scenarios, we’re here to support the personal and financial success of you and your clients.