MCAP's FlexStar Mortgage Impresses

Mortgage innovation never stops.  MCAP's new FlexStar product is case in point.

FlexStar is a 5-year variable-rate mortgage that's totally readvanceable (you can re-borrow the money that you pay back).

FlexStar boasts several unique features:

• It offers a line of credit at a discount to prime (most lenders don't discount their credit lines).
• You get a debit card to use any way you like.  Purchases are simply added to your mortgage at a low interest rate.
• If you need to save money, you can make interest-only payments any time you like.
• You can pre-pay up to 50% of the original mortgage within 5 years--with no penalty!
• In some cases, you only need 5% down.  That makes it the highest loan-to-value readvanceable mortgage on the market.
• You can convert it to a fixed-rate mortgage any time.

This product is by far the most innovative we've seen in recent memory.  It plays right into one of the hottest trends in the industry--readvanceable mortgages.  People absolutely love the ability to re-borrow their equity without having to reapply or get a line of credit.

It also offers the lowest down payment (5%) of any interest-only mortgage in Canada.  You'll need to get mortgage insurance if you put down less than 20%, however.

For more information, contact us or your favorite mortgage planner.