1. Calvert Home Mortgage Investment Corporation (CHMIC)
Calvert Home Mortgage Investment Corporation specializes in working with real estate investors, house flippers, and BRRR (Buy, Renovate, Rent, Refinance) enthusiasts. They offer house flipping loans with a focus on ensuring profitability for investors. Their experienced underwriters consult with clients to create tailored plans, and they promise a response by the next business day.
2. Graysbrook Capital
Graysbrook Capital offers short-term, open mortgages ideal for house flipping projects. They have expanded their services to Ontario, including rural areas, with a priority in Southwestern Ontario. Graysbrook Capital is known for quick turnaround times and flexible lending solutions, making them a strong option for investors seeking fast and adaptable financing.
3. Lendfinity Financial
Lendfinity Financial’s Fix & Flip Program empowers clients to purchase properties, renovate them quickly, and generate profits. They offer financing options with up to 80% loan-to-value (LTV) in urban areas and up to 75% LTV in rural areas, providing the necessary funds to acquire properties and cover renovation costs.
4. DV Capital Corporation
DV Capital provides short-term bridge loan financing to acquire residential, commercial, and industrial real estate in Ontario, British Columbia, and Nova Scotia. Their services cater to investors looking for quick and flexible financing options for their house flipping projects.
5. LendCity Mortgages
LendCity offers flip mortgage financing tailored for real estate investors. By choosing an investor-focused lender like LendCity, you can maximize your investment potential and expedite your flipping projects with confidence and ease.
| Lender | Starting Interest Rate | Loan Term | Loan-to-Value (LTV) | Fees | Prepayment Penalty | Notes |
|---|---|---|---|---|---|---|
| Calvert Home Mortgage | 7.99% – 9.99% | 6 months | Up to 80% ARV | 1.5% – 4% commitment fee | None | Minimum down payment: $20K in Ontario; fast approvals within 24 hours. |
| Graysbrook Capital | 8.99% (1st), 10.99% (2nd) | 6–12 months | Up to 75% | Varies by deal | Fully open | Quick 24–48 hour funding; backed by a credit union. |
| Lendfinity Financial | Not specified | 3–12 months | Up to 80% (urban), 75% (rural) | Not specified | Not specified | No income or credit documents required; fast funding within 2–10 days. |
| DV Capital Corporation | Not specified | Short-term | Not specified | Not specified | Not specified | Offers bridge loan financing for various property types. |
| LendCity Mortgages | Not specified | Not specified | Not specified | Not specified | Not specified | Provides flip mortgage financing tailored for real estate investors. |
💡 Final Thoughts
Selecting the right lender for your house flipping project in Ontario depends on various factors, including your financial situation, project scope, and experience level. The lenders mentioned above offer specialized programs to support real estate investors in achieving their goals. It’s essential to research each option thoroughly and consult with financial advisors to determine the best fit for your specific needs.
For personalized assistance and to explore off-market opportunities, consider reaching out to SLG Property Deals. Our team is dedicated to helping investors navigate the real estate market and find profitable deals tailored to their investment strategies.