MCAP Blog

November is Financial Literacy Month in Canada. Finances impact many areas of everyday life, from the mundane aspects like day-to-day spending habits to more impactful things like mental health. By improving your financial literacy, you can make a significant impact on your financial outlook and improve your quality of life. Here are some tips for homeowners (or homeowners-to-be) that can help you if you’re looking to amp up your financial acumen.

If you’ve made the decision to buy a home, you’ll probably be taking a closer look at your finances to figure out how to reach your homeownership goals. Whether it’s your first home or a new space to meet your family’s needs, saving towards a new home is no easy task. On top of that, you may have other financial goals you’d like to achieve as well like saving for retirement, a well-deserved vacation, or building an emergency fund.

Buying a home is the most expensive financial purchase most people will make in their lifetime. For that reason, the mortgage interest rate you receive will make a big impact on how much you pay over the lifetime of your mortgage – even a difference of a single percent can amount to thousands of dollars. The down payment you make on your mortgage is an important factor that lenders will look at when determining what mortgage rate they will offer. Let’s explore the role your down payment plays in your mortgage rate options and how to position yourself for the best rate possible.

Being an MCAP homeowner comes with some added perks—like the chance to win amazing prizes in the MyHome Sweepstakes! From mortgage payments to property tax coverage for the year, we’re happy to make homeownership a little bit more fun and rewarding for our homeowners. We spoke to some recent winners to see how they felt after winning. Here’s what they won and what they had to say!

When it comes to buying and owning a home, there are many costs to consider. More than just the purchase price, there are many additional costs that will come up during the purchase and throughout owning your home. This guide will give you all the necessary info on how much it costs to buy and own a home in Canada.