Blue Fox Financial
11003 85 AVE NW T6G 0W5 Edmonton, AB, Canada

Thank you so much Caitlin for the Blue Fox rock. You did such an awesome job. It has a special place my office where everyone can see it.

This is a copy of post from a good friend of mine and an experienced lawyer at Field Law that we have worked with. As you read notice that it is a perfect example of why we do not always recommend that our clients take the best mortgage rate they hear advertised. Now MCap is a great lender and they are not the only one to have this kind of "special" but when any of them do there is usually hitch. We've got your back in situations like these Let us read the fine print fo...r you! Hello! Here's a situation that mortgage brokers and lenders might be familiar with, but it's one I've never run into in my 45 years of practicing law. We have a client looking to refinance their home replacing the existing MCAP mortgage with a new lender. We wrote to MCAP for a payout statement and they said, you can't pay this out unless: you are selling the property, renewing into another one of our products, if the borrower is deceased. Wait... what?! I called them and, yes, those three circumstances are the only way our client could get out of the MCAP Value-Flex mortgage. I asked about paying the usual interest penalty or perhaps even a bigger interest penalty and they refused. Their rationale? Customers were getting an outstanding deal on interest rates and other terms, and in return MCAP wanted certainty of income. This doesn't make sense to me. As long as the appropriate interest rate penalty would mean MCAP isn't losing money on an early payout, what did they really care? However, I don't make the rules. So, heads up, if you have any clients looking to get into or out of an MCAP Value-Flex mortgage, remember about the inability to pay out except on term maturity. Cheers, Barry Barry McGuire Counsel 780-423-9594 [email protected] He

Thank you First National for the update on the Bank of Canada rate. Bank of Canada holds benchmark rate steady, continues large-scale asset purchases Jul 15, 2020 Be the expert...Continue reading

https://www.cbc.ca/news/business/cmhc-rules-1.5599987 CMHC has announced their rule changes today. In a nutshell: 1) At least one applicant must have a 680 credit score as compared to the 600 it would consider now. ... 2) No more borrowed down payment 3) Borrowing rations have a been decreased which will make it the amount you qualify for lower. These changes take affect July 1st and do not affect people already approved for a purchase. Make sure if you have any questions to call us! That's what we are here for.

In case you haven't already heard.... https://thinkpol.ca//canada-looking-to-increase-minimum-m/

In case any of your are looking for information about deferring your mortgage payments here it is. The numbers to most banks are here as well . If you need another one not listed give me a call.