Could your next flip be funded without your own cash?
Enter your numbers and the equity you already own. In three minutes you get a Green, Yellow or Red answer, and the one thing that would change it.
No rate quotes, no credit check, nothing is pulled. Just arithmetic on what you type.
100% financing for qualified fix-and-flip projects, using additional real estate as collateral. Subject to lender approval, property valuation, underwriting, available collateral, approved costs and final loan terms. Not every project qualifies.
Which province is the flip in?
We lend in Alberta, BC and Saskatchewan.
We only lend in Alberta, BC and Saskatchewan right now.
This calculator would give you a wrong answer for a flip anywhere else. If the flip is in one of those provinces and your other property is elsewhere, go back and enter the flip's province.
Otherwise, thank you for your time.
What is the purchase price?
The number on the contract, or your offer.
What is your renovation budget?
All in: materials, labour, permits, contingency.
Closing and carrying costs?
Legal, insurance, utilities, taxes and interest while you hold it. Enter 0 if you plan to carry these yourself.
What will it be worth finished?
What a realtor would list it at when the work is done. This is shown with your result; it does not decide the colour.
Other real estate you own
Your home, rentals, land. For each one: what it is worth, and everything registered against it including lines of credit. Up to three. Leave blank if you own none.
How many flips have you completed?
Finished and sold or refinanced.
How will you exit?
When do you need to close?
This does not change your result. It tells us how fast to move.
Where should we send your results?
Your result shows on the next screen either way. The email carries the numbers so you have them.
Fees and interest can often be built into the loan. The risk of the project stays yours.
Results assume the properties are in major centres such as Calgary, Edmonton, Red Deer, Lethbridge, Saskatoon or Regina. Smaller markets are reviewed case by case.
This calculator is for educational and preliminary screening purposes only. It is not a loan approval, commitment, appraisal, valuation, or guarantee of financing. All transactions are subject to lender approval, property valuation, underwriting, available collateral, approved costs, and final loan terms.
Mortgage brokerage services arranged through Mortgage Connection. Steven Loewer, Mortgage Broker.