Do you have clients in Alberta and Ontario who need fast, flexible financing to close on a property they intend to sell or refinance right away? If so, Calvert Home Mortgage can support you with a short-term Interim Purchase mortgage.
An Interim Purchase is designed to give your clients access to quick closing times, additional capital, flexible terms, and minimal down payment—all without the constraints of traditional financing.
In the past six months, Calvert Home Mortgage has supported Mortgage Brokers in securing $105M+ in Interim Purchase mortgages for their clients. Here are a few examples of how we’ve helped:
Case Study: Rapid Funding for Timely Close & Refinancing
Calvert Home Mortgage provided quick funding for a self-employed client, issuing a Commitment Letter within 3 hours, enabling a one-day close. The client refinanced and repaid the loan in 37 days without prepayment penalties.
Case Study: Quick Financing for Immediate Sale
A financially strong client sought short-term financing to purchase a new build with the intention of selling it immediately. Traditional banks wouldn’t finance this situation, so Calvert Home Mortgage provided a solution by lending on the property’s as-is value. The client secured the property, sold it quickly for a profit, and paid off the loan within 22 days without prepayment penalties.
Key Benefits of Calvert Home Mortgage’s Interim Purchase
- Funding is based on the as-is value, not the purchase price. This provides access to more funds upfront and allows for refinancing on the appraised value with a traditional lender.
- Fast funding, on a rush basis in as little as 1-3 business days upon receiving all required documents. A rush fee of $1,000 may apply.
- No appraisals are required for properties valued up to $1.5 million. Our team of Real Estate Analysts conducts free in-house valuations, typically completed within 1 business day. Appraisals are required on multi-family properties greater than four units.
- Fully open mortgages with no prepayment penalties and a no renewal fee option for borrowers in good standing.
Why Mortgage Brokers Choose Calvert Home Mortgage
While traditional lenders may discourage quick sales and potentially blacklist borrowers for frequent transactions, Calvert Home Mortgage focuses on flexible, short-term mortgage solutions that empower the personal and financial success of you and your clients.
We respect the partnership you’ve built with your clients. If a client comes directly to us after working with you, we always make sure to connect them back to you for future opportunities, ensuring your role in their journey is respected. We value trust and will always do what’s right for our partners and clients.
Ready to explore how an Interim Purchase mortgage can support your clients’ financing needs? Click here to book a Broker Presentation with Calvert Home Mortgage.
