- Debt Consolidation
Debt Consolidation Using Your Property's Equity
If you're piling up several debts (taxes, credit cards) and finding it hard to keep up with payments, a private mortgage loan with Clic Hypothèque lets you consolidate them into a single payment, using the equity in your property instead of relying on your credit history.
- What Is Debt Consolidation?
What Is Debt Consolidation with a Private Mortgage?
It’s a private mortgage loan, secured by a first or second mortgage depending on your situation, that lets you pay off your tax debts, credit card debts or other obligations all at once, replacing several monthly payments with just one.
Unlike a bank, we don't analyze your debt ratio. What we assess is the equity available in your property.
- This Solution
Why Consider This Solution?
1.
Simplifies your finances with one monthly payment instead of several
2.
Doesn't depend on your credit history, but on the equity in your property
3.
Response within 24 hours, with no impact on your credit
4.
We assess your file on a case-by-case basis, no matter where your property is located in the province
- 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.
- The Process
Who Is This Solution For?
This solution may be right for you if you:
Have accumulated tax or credit card debt
Are self-employed and have difficulty qualifying for a bank loan because of your reported income
Have available equity in your property, even if your credit history isn't perfect
- Frequently Asked Questions
Debt Consolidation FAQ
Clear answers to help you understand private mortgage financing.
How Does Debt Consolidation with a Private Mortgage Work?
It's a loan secured by the equity in your property. You use it to pay off your existing debts all at once and replace them with a single monthly payment on the new loan.
How Do I Consolidate My Debts with Clic Hypothèque?
Fill out an online application with information about your property and your current debts. We review your file and give you a response within 24 hours, with no impact on your credit.
Can I Consolidate My Debts If I'm Self-Employed?
Yes. We mainly assess the equity in your property, not your declared income, which makes this solution a common option for self-employed workers.
Multiple debts, one big headache?
Consolidate your debts using your property's equity and get a response within 24 hours.