- Private Mortgage
- Immediate Solutions
Private Mortgage Loan in Quebec
If you're a homeowner in Quebec and need cash without going through a bank's delays and strict conditions, a private mortgage loan is a financing solution based on the value of your property, not on your credit history.
At Clic Hypothèque, we assess your equity, not a list of boxes to check, and you get a response within 24 hours.
- What Is It?
What Is a Private Mortgage Loan?
It's financing secured by the equity in your property, granted by a private lender rather than a bank. Unlike a bank, we don't analyze your debt ratio or require declared income. What matters is the equity available in your house, condo or building.
- What Is It?
How Does a Private Mortgage Loan Work with Clic Hypothèque?
The process is simple and straightforward:
1.
You fill out an online application with information about your property.
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, the contract is signed at the notary and the funds are deposited into your account.
- ASSESSMENT
Who Can Get a Private Mortgage Loan?
Any homeowner in Quebec with available equity in their property can qualify, even with bad credit, income that is hard to declare (self-employed workers, for example) or after being turned down by a bank. We assess each file on a case-by-case basis, no matter where your property is located in the province.
Property Value and Location
Current value and location of the property.
Outstanding Mortgage Balance
Outstanding balances on mortgages and other registered charges.
Loan Amount and Use
Requested loan amount and intended use of the funds.
Mortgage Position
Proposed mortgage position for the new loan.
Exit Strategy
Sale, refinancing or repayment, depending on the project.
- Rates and Loan Amounts
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 rate and amount depend on the assessment of your file.
- SCENARIOS & SOLUTIONS
Our Private Mortgage Financing Solutions
A private mortgage loan can be adapted to different needs. Discover the solution that fits your situation:
Self-Employed Workers
- Frequently Asked Questions
Frequently Asked Questions
Clear answers to help you understand private mortgage financing.
Can I Get a Private Mortgage Loan with Bad Credit?
Yes. We first assess the equity in your property, not your credit history. As long as you're a homeowner, you can quickly access financing, whatever your credit score.
How Long Does It Take to Get a Private Mortgage Loan Approved?
You receive a response to your application within 24 hours, with no impact on your credit. Once your file is approved, the signing at the notary and the deposit of funds take just a few days.
What Is the Difference Between a First and a Second Mortgage?
A first mortgage offers rates from 9% to 12% and has payment priority on the property. A second mortgage offers rates from 13% to 15% and is added to an existing mortgage.
Can I Avoid a Bank's Delays with a Private Mortgage?
Yes. A private mortgage loan doesn't require the traditional bank approval process. The assessment is based on the equity in your property, and you get a response within 24 hours instead of the weeks or months a bank can take.
Need cash quickly and securely?
Request your free assessment today and get a response within 24 hours, with no impact on your credit.