- Bridge Loan
Mortgage Bridge Loan in Quebec
Have you found the ideal property, but your current one isn't sold yet? A bridge loan with Clic Hypothèque lets you finance the purchase of your new property using the equity in your current property while you wait for its sale to go through.
- Overview
What Is a Mortgage Bridge Loan?
It's temporary financing, secured by the equity in your current property, that covers the gap between buying a new property and selling the previous one. It allows you to seize a buying opportunity without waiting for your sale to be finalized.
- The Process
How Does the Process Work with Clic Hypothèque?
1.
You fill out an online application with information about your current property and the property you want to buy.
2.
We review your file and give you a response within 24 hours, with no impact on your credit.
3.
If your file is approved, you sign the contract at the notary and receive the funds to complete your purchase.
- Rates
What Rates and Amounts Are Available?
Our rates range from 9% to 12% for first mortgages and from 13% to 15% for second mortgages, depending on each homeowner's equity and situation. We provide financing from $25,000 to $1,000,000, up to 75% of the property's value. The exact amount and rate depend on the assessment of your file.
- solution
Who Is This Solution For?
Have found a property to buy, but your current property isn't sold yet
Need to act quickly in a market where properties receive multiple offers
Have available equity in your current property to secure the temporary financing
- Frequently Asked Questions
Frequently Asked Questions
Clear answers to help you understand private mortgage financing.
Can I Get a Bridge Loan Even with a Weak Credit History?
Yes. We mainly assess the available equity in your current property, not your credit history.
A buying opportunity, but your property isn't sold yet?
Get fast temporary financing with Clic Hypothèque and receive a response within 24 hours.