Interest-Only Mortgage Announcement!
First Foundation is proud to announce that, as an approved Merix Financial broker, we are able to offer our clients one of the most unique mortgage products developed in the past decade in Canada.
Merix Interest-Only Flex Features
- Purchases or Refinances
- Up to 30-year amortization
- Interest-only payments at minimum
- Ability to blend interest-only with amortizing payments as well as ARM and Fixed rate combinations
- Available to primary residences AND property investors.
Interest-Only Flex Usage Scenarios
- Property investors that own rental properties can pay interest-only (and usually deduct the interest) while focusing their principal repayments on their primary residence. This improves cashflow and rate of return.
- Clients with higher-interest personal debts can pay those down quicker
- Borrowers who can earn a higher rate of return by investing in other asset classes may choose to pay interest-only on their mortgage and invest the difference in the market.
- Seasonal workers can pay interest-only during the slow season and use prepayment privileges to catch up when they're busy
- Clients who want to divert some payments towards renovation savings can do so
- And more! Find out if an interest-only option is a good one for you!