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We’re happy to announce that you can now submit mortgage applications directly to Fraction.
Fraction has recently launched in British Columbia and Ontario with Canada’s first Appreciation Mortgage!
- Fraction’s interest rate is based on the appreciation of the home over the term.There is a minimum annual interest rate of 3.49% and a cap of 7.99% if the appreciation is lower or higher than those.
- No monthly payments mean that the homeowner does not require income to qualify.
- Fraction does not have age requirements and can work with primary residences, secondary residences, and investment properties.
- Fraction does an appraisal and an inspection as two separate steps and requires a minimum FICO score of 640.
Whether you’re planning or already retired, looking to diversify your equity, or tired of monthly payments and looking for an alternative, Fraction can help.
Access up to 40% of your hard-earned equity in tax-free cash without selling your home.