MCAP Blog

For homeowners, renewing a mortgage is a significant milestone that offers both opportunities and challenges. When it’s time to renew, you can re-evaluate your mortgage needs, assess your options, and choose a mortgage that fits your current financial and lifestyle needs.

As a developer, you will be well aware of the difference between a construction loan and a commercial mortgage. Your construction loan is designed to cover the cost of your build from start to finish, providing funding to purchase materials and pay contractors. A commercial mortgage, meanwhile, is your long-term financing solution post completion.

MCAP is a long-standing lending partner of Phoenix Homes, one of British Columbia’s active home builders in the Fraser Valley. Established in 1999, Phoenix Homes has built a reputation for quality construction and design. Over the last 25 years, they have completed 23 projects for over 700 units across B.C. and are committed to continue developing communities in growing and vibrant neighbourhoods across the province. In recent years, they have been building a mix of townhomes, condos, and rental projects. MCAP has financed three projects for Phoenix Homes, dating back to 2011.

At MCAP, we aim to make homeownership easier, more fun, and more affordable through our MyHome Sweepstakes program. The prizes offered in this contest are carefully curated to help our homeowners make the most of their homes by addressing the real-world needs that come with owning and maintaining their properties.

When it comes to getting a mortgage, it’s a significant financial decision and one that affects the next several years of your financial life. While the landscape of lenders, loan options, terms, and terminology can be overwhelming to navigate, a mortgage broker can be your guide, playing a vital role in making sense of the process, and ensuring you come away with a mortgage that’s right for you.