MCAP
MCAP is a leading Canadian independent mortgage company, with over $20 Billion in mortgages under administration. Since 1981, MCAP has helped over 200,000 Canadians realize their dreams of home ownership. The company focuses exclusively on providing innovative home financing solutions and complimentary products and services designed to enhance the home ownership experience. Year after year, MCAP customers rate the company's service levels very highly and more than 90% say they would recommend MCAP to a friend or relative.
*45 Day Quick Close Special
| Minimum Mortgage Amount | $50,000 |
|---|---|
| Portable | Yes, upon qualification |
| Amortization | 5 Years Minimum, 35 Years Maximum |
| Assumable | Yes (MCAP must approve new covenant) |
| Rate Guarantee | Up to 120 Days |
| Preapprovals | Yes |
| Payment Frequencies | Weekly, Bi-Weekly, Semi-Monthly,Monthly |
| Early Payout Penalties | Greater of 3 months interest or IRD. |
| Prepayment Privileges | Up to 20% of mortgage amount per year, + increase Payments by 20% per year. |
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