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MCAP mortgage information

MCAP was founded in 1981 and is Canada’s largest independent Mortgage Finance Company. Their head office is located in Toronto, Canada and they have offices across Canada in Vancouver, Edmonton, Regina, Waterloo, Montreal and Halifax. Their TSX symbol is MKP.

Some of their services include:

  • Residential mortgages
  • Commercial mortgages
  • Development finance

What services does MCAP provide?

MCAP is one of Canada’s largest originators of residential mortgages through the mortgage broker channel. For commercial clients, MCAP provides financing for industrial, commercial, office, retail and multi-unit residential properties across Canada. MCAP is also a leader in the Canadian residential construction lending market and serves a variety of developer, construction and lender clients across Canada.

What is a B lender mortgage?

A B lender mortgage is any mortgage funded through a non-traditional bank or lending sources but is still governed by B-20 guidelines. B lenders include Trust Companies, tier B banks, monoline institutions and credit unions. B lenders will cater to borrowers who don’t fit within the guidelines of an A lender, such as those with low credit, non-qualifying income or other challenges that could cause them to be declined by an A lender.

What are the types of MCAP mortgages?

MCAP offers both fixed and variable rate mortgages. They also offer a Fusion Mortgage which is a combination of a mortgage and a line of credit so that borrowers have more flexible financing options. Another mortgage product they offer is the MCAP Safeguard Mortgage which is a second mortgage that lets homeowners access their equity without touching their existing mortgage.

Are MCAP mortgage rates higher or lower than other banks and lenders?

Rates tend to vary depending on a multitude of factors such as down payment and Loan to Value, term length, and intention for the property, rather than lender to lender. It’s important to shop around and compare mortgage rates from multiple lenders so you can find the best mortgage rate for you.

How do I get a mortgage from MCAP?

MCAP does not provide products directly to home buyers, so to get a mortgage with them, you will need to work with a mortgage broker. Your mortgage broker will help you negotiate with your chosen lender to help you get the best rate.

Are MCAP mortgages portable?

Yes, MCAP offers both increased and decreased ports. Increased ports are for when you need additional financing for a new property. Your new mortgage will include your current balance and the additional funds. Decreased ports are for those who don’t need as much financing to purchase your next home. This option will give you the flexibility to move only the mortgage amount you need to close the deal.

How do I view my mortgage statement from MCAP?

Through the MyMCAP online portal, you can view your mortgage details, make lump sum payments, check your mortgage balance, review property tax information and more. You can also call their Customer Service Specialists by phone or email to get more information.

How can I view MCAP mortgage offers?

You can view MCAP mortgage offers by using our Pathfinder tool. This tool will allow you to quickly see your available mortgage offers in just a few clicks.

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