MCAP offers competitive rates — plus other mortgage features — to help you finance your next home.
When buying a home, mortgage rates are an important part of the conversation — but they’re not the whole story. When choosing a mortgage, it’s also important to consider:
Do you prefer the stability of a fixed rate or the flexibility of a variable rate? Are you planning to be in your home for a long time or only for a specific period of time? Your priorities, goals, and lifestyle all factor into your mortgage decision. A broker can help guide you to the mortgage that’s right for you.
Before deciding whether a fixed or adjustable rate mortgage is right for you, take a look at the features of each mortgage type below.
+ The interest rate is locked in for the full term of the mortgage
+ Principal and interest payments are guaranteed not to change throughout your term
+ You have the option to pay down your mortgage faster with certain lump-sum and pre-payment privileges
+ If interest rates fluctuate up or down your mortgage rate will do the same
+ Your regular payment will also go up or down in relation to the rise and fall of interest rates
+ Provides the option to convert to a fixed rate mortgage anytime — so you can take advantage of falling rates
+ You have the option to pay down your mortgage faster with certain lump-sum and pre-payment privileges
Discover how much your mortgage payments could be and compare different mortgage options to find what works best for you.
The mortgage process can be complex but we’re here to help. Find the answers to all your mortgage, rate and payment questions in our ultimate guide to mortgage rates in Canada.
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