MCAP Residential Mortgages

We’re here to create a smooth and straightforward homeownership experience. We look forward to partnering with you on your journey.

What are your homeownership goals?

While homeownership is your ultimate goal, there are many steps involved in the process. From buying to mortgage refinancing to renewal, no one can do it alone. That’s why we’re here — to work alongside you and facilitate a smooth homeownership experience from start to finish.

Buying my first home Buying my next home Refinancing my mortgage

Buying another property Renewing my MCAP mortgage Switching to MCAP

Why choose MCAP for your mortgage?

As Canada’s largest independent Mortgage Finance Company, MCAP helps you find the best mortgage for your homeownership needs. We offer residential mortgage solutions to suit your financial goals.

Great Rates

We’re proud to offer competitive residential mortgage rates to our mortgage clients.

A Partner You Can Trust

We’re dedicated to helping you achieve your home buying dreams.

Flexible Payment Options

We offer payment schedules and options to suit your lifestyle and goals.

Calculate your mortgage payments

Mortgage Details

Calculate your mortgage payments

How much can you afford? Whether you’re looking to buy, refinance, or it’s mortgage renewal time, use our mortgage calculator to determine your residential mortgage payments.

Mortgage Amount

Amortization Period Amortization Period - year Amortization Period - month

Amortization Period

Payment frequency

Interest rate

Current prime rate

The prime rate is the annual interest rate that major banks and lenders within Canada use to set variable rate mortgages, such as the MCAP adjustable rate mortgage. The prime rate is influenced by the rate set by the Bank of Canada.

View the historical prime rate

MCAP Prime Rate

4.95%

Effective March 13, 2025

Ready to buy? Here’s what to expect

When it’s time to find your dream home, it’s time to find a mortgage broker. Here’s what to expect as you secure a mortgage.

Find a broker: Working with a broker can save time, effort and money! With access to a variety of residential mortgage products, brokers can help find the best mortgage for your needs. Because brokers work with mortgage products every day, they can guide you through the mortgage process and provide expert advice every step of the way. Visit the Find a Broker tool to find a local mortgage broker in your area.

The right mortgage for you: Finding the right mortgage is about more than finding the lowest rate. Other things to consider are available terms and payment flexibility, whether there are any restrictions, and if you can qualify. Your mortgage broker will work with you and evaluate these and other factors when recommending the right mortgage.

Why choose MCAP?

Discover why MCAP is a great partner for your home buying journey.

WATCH THE VIDEO Why choose MCAP?

Why use a mortgage broker?

Watch our quick video to understand the benefits of using a mortgage broker.

WATCH THE VIDEO Why use a mortgage broker?

Paying your property taxes

We offer the convenient option to pay your property taxes with your regular mortgage payment, giving you one less bill to worry about.

PROPERTY TAX SERVICE Paying your property taxes

Mortgage protection

Your home is likely the largest purchase you’ll make. Make sure it’s protected.

MORTGAGE PROTECTION INSURANCE Mortgage protection

Get Started

For questions, rates or to start a mortgage application, professional mortgage brokers are available to help.

Residential Mortgage FAQ

Mortgage specialists are employed by a lending institution, such as a mortgage finance company or bank, to sell that lender’s mortgage products.

Mortgage brokers belong to a brokerage and have access to multiple lenders. With access to more mortgage products, brokers can help you find the best mortgage for your needs. They also require ongoing accreditation and education to maintain their licenses.

With a fixed rate mortgage, your interest rate is locked in for the full term. That means that principal and interest payments will remain the same throughout the term of your home mortgage.

An adjustable rate mortgage is tied to interest rates. If interest rates fluctuate up or down, your mortgage rate will do the same. The benefit is that if rates decrease, payments do as well. With an adjustable rate mortgage, you can convert to a fixed-rate mortgage anytime, so you can easily take advantage of falling rates.

Both mortgage types allow you to pay down your mortgage faster with lump-sum and prepayment privileges.

When buying a home, mortgage rates are essential to the conversation — but they’re not the whole story. When choosing a mortgage, it’s also vital to consider the flexibility of the payment schedule, the options available to pay down the mortgage faster, and whether you can take your residential mortgage with you when you move. Learn more about our home mortgage options.

Here are five reasons why renewing your mortgage with MCAP is fast, easy, and simple for MCAP homeowners:

A dedicated renewal account manager will help you throughout the entire process, beginning about 3 months before your renewal date

You won’t need to requalify for a mortgage, which means less paperwork and stress

Because you can access your mortgage online with the MyMCAP portal, your renewal offer is safe, secure, and available to view at any time

Renewing with MCAP is entirely free – you skip legal, transfer, appraisal and discharge fees

You can still take advantage of all MCAP products and services such as winning prizes through MyHome Sweepstakes, an exclusive contest for MCAP homeowners

We have many flexible programs and options. Whether you want to increase your balance to renovate, consolidate your debts, or move your mortgage to a new property, we have the right solution available.

To be eligible to refinance, there are a few things we will look at:

Your ability to make your current mortgage payments on time

Your history with other creditors

Whether you have sufficient income to support the increased mortgage amount

Available equity in your property

Learn more about refinancing your home with MCAP.

There are many reasons why switching to MCAP is a great idea for your mortgage financing needs.

You can switch to an MCAP residential mortgage in three steps:

Before your existing mortgage expires, look at the residential mortgage options we offer

Contact a mortgage broker to guide you through the mortgage application process

See what documents you need to make the switch to MCAP. Don’t worry. We make it easy!

Learn more about switching to MCAP

MCAP Residential Mortgages

What are your homeownership goals?

Why choose MCAP for your mortgage?

Calculate your mortgage payments

Calculate your mortgage payments

Current prime rate

Ready to buy? Here’s what to expect

Get Started

Residential Mortgage FAQ

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