A couple years ago MCAP pulled the plug on its popular line of credit mortgage during the global financial crisis. I think it’s a positive sign of the times that they have re-launched this product and I’m sure it will be a product very popular with mortgage brokers.
Here are some of the details:
-The rate on this mortgage will be prime +1.00%
-The product will be fully open
-5, 10 or 25 year interest only periods available
-Minimum beacon score 650
If you have been considering tapping into some of the equity in your home please contact me and I’ll give you an overview of the refinance options available today!