Interim Purchase Financing

Found a deal?
Finance it fast.

Some opportunities don’t fit neatly into traditional lending.

You may be looking to buy below market and need to close quickly before refinancing with another lender or selling the property. Interim Purchase Financing helps bridge the gap with fast, flexible funding.

Move Forward Without Waiting

Interim Purchase is a short-term mortgage solution for buyers who plan to:

Sell the property

Refinance with a traditional lender

It’s commonly used when there’s clear value in the deal today, but a different financing solution will be used shortly after. We focus on the current value of the property, not just the purchase price.

When Interim Financing Makes Sense

Below-market purchase opportunities

Pre-construction properties with increased value

Short-term purchase before refinancing

Quick resale strategies (wholetail)

Time-sensitive opportunities and acquisitions

Highlights

Up to 80% Loan-to-Value (LTV)

Fully open interest only loans

No appraisal required under $1.5M

Receive funds in 1-3 business

Condo purchases
subject to document review

Every file is reviewed based on the overall success of the client

We look at:

✓ The property value
✓ Exit strategy within 12 months
✓ Borrower's financial strength
✓ Property locations with 10k+ populations

If everything aligns, we structure the financing around it.

Documents Required:

  • Mortgage statement

  • Recent property tax statement

  • Proof of funds

  • Notice of Assessment (NOA)

  • Credit Bureau

  • MLS listing

A full document checklist will be provided upon inquiry. 

Calvert Home Mortgage | Flip Financing

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Frequently Asked Questions

Questions About Interim Purchase Financing

How quickly can the process move?

Many files are completed within a few days, especially when all required documents are submitted on time. The speed of the process depends on how complete and organized the file is from the start, as missing information can cause slight delays.

In most cases, no appraisal is required for properties valued under $1.5M. This helps streamline the process while reducing both timelines and upfront costs for the borrower. We have our in-house valuation team, which goes beyond surface-level comparables to assess the property more thoroughly. This allows us to better evaluate execution risk and align with the borrower’s overall plan.

A clear and realistic exit strategy within 12 months is key to securing approval. Lenders want to see a well-defined plan for how the loan will be repaid, whether through a sale, refinance, or other means, as this reduces risk and demonstrates preparedness. While the exit strategy remains the most critical factor in the approval process, we also consider several secondary elements, including the property’s location, the borrower’s available equity, and their credit profile. Together, these factors provide a well-rounded view to support informed lending decisions.

Yes, this solution can work well if your income situation is more complex. It’s often designed for individuals whose financial profile isn’t accurately reflected through traditional qualification methods. We evaluate eligibility in line with our lending guidelines, focusing on the overall strength of the debt servicing ratio. This approach enables us to take a more comprehensive view of the borrower’s capacity, ensuring the structure aligns with both their financial reality and the requirements for approval.

Eligible property types include residential homes, condos (subject to review), and investment properties. Each property is assessed on a case-by-case basis to ensure it meets the program’s guidelines and overall lending criteria.

Yes, we lend based on the market value of the property for homes located in cities with a population over 10,000. This ensures the valuation reflects current market conditions and supports a fair and accurate lending assessment.