Fraction can help you find debt relief
With up to $1.5M in tax-free cash at your disposal, you can quickly find the relief you need and reduce the amount you spend on paying back debt simultaneously.
A Fraction Mortgage is a flexible way to access your home equity.
Fraction can potentially help you reduce your debt to income ratio (the amount you spend monthly paying back debt) by up to 50% on average simply by eliminating monthly payments.
With a Fraction Mortgage, you can unlock a portion of your home's equity at a fair rate with no monthly payments.
Need to leave sooner? No problem. We don’t charge prepayment penalties.
Fraction's terms are clear and simple, and we will walk you through the whole process to make sure you understand everything before you sign. Check out our latest rates here.
The best part? No monthly payments, ever.
We’re making a lot of people happy
Using a Fraction Mortgage to find debt relief
A Fraction Mortgage can help you consolidate debt at a lower rate with no monthly payments. If you're serious about paying off your high-interest, unsecured debt, a Fraction Mortgage can help.
We allow you to safely access a portion of your home’s equity at a fair rate with optional monthly payments. We provide you with a tax-free lump sum amount, a capped interest rate and no repayment fees.
Fraction is a fairer way for homeowners to tackle their high-interest debt. You've invested in your home. Now it's time for your home to invest in you.
Frequently asked questions
Go through our most asked questions below, and visit our FAQs page for more detailed questions.
Following a third-party appraisal of your home and a check of all your information, you may or may not be approved for a Fraction Mortgage.
Based on your application and the appraised value of your home, Fraction will determine how much cash you qualify for. Upon a deeper review, we will provide you with documentation outlining your funding amount and corresponding terms and conditions. Once you sign the final documents, we send you your money.
Learn more here, in our Fraction Basics modules.
Yes, if you have 60% down on a home, you can work with Fraction to purchase the home with no monthly payments.
Absolutely. If you want to contact the team and ask any further questions about your circumstances, you may contact us at [email protected].
Be sure to include the province you’re inquiring about so we can better assist you.
Often homeowners seek ways to unlock equity in their homes for large expenditures or diversifying income – examples include funding home renovations, consolidating or paying off debt, launching a business, or purchasing a secondary residence.
While in need of solutions, many homeowners aren’t interested in taking on more debt.
Fraction allows them to access the built-up equity in their homes with no monthly payments and an interest rate tied to their local market's value.
The Fraction Mortgage helps homeowners to access the value locked in their homes with no monthly payments.
They can use the cash for anything, from paying off credit-card debt to starting a business to buying a second home.
Learn more here, in our Fraction Basics modules.
Fraction offers no monthly payments and no payment penalties. Unlike reverse mortgages, we have a fixed-length term and do not have any age restrictions.
See how Fraction stacks up against the rest by visiting our blog for more financial product comparisons
Anyone who owns a home and has enough equity built up can work with us. We have no age restrictions.
Since there are so many factors that contribute to partnering with Fraction, each property is evaluated independently. Working with Fraction starts with getting a free estimate. With our estimate tool you can see how much tax-free cash you qualify for, with no impact to your credit score.
From there, after a hard pull credit check (which may impact your credit score) and official appraisal of your home, we’ll send you an agreement for your review. Here are some of the things we screen for before we lend:
- The single-family dwelling is located in a province or state in which we’re currently operational
- A 640 credit score
- A minimum of {{min_equity}} equity in your home
Currently, Fraction lends in British Columbia and Ontario.
We've built the Fraction Mortgage with no monthly payments and penalties, no hidden fees, and removed all of the confusing financial jargon to help you find the right financial solution to meet your needs.
We keep things simple and fair for homeowners everywhere. Fraction's terms are clear and simple, and we will walk you through the whole process to make sure you understand everything before you sign.
Plus, Fraction has raised more than USD$250 million from international investors in Canada, the US, and Europe. Our world-class investors share our vision to change how homeownership works.