Mortgage Renewal with MCAP

You do not need to requalify to renew your mortgage with MCAP. Renewing is fast and easy.

There are no costs to renew your mortgage with MCAP.

MCAP offers a range of mortgage options to choose from, so you can find one that fits your needs, lifestyle, and goals. Take a look through our mortgage options to see the various features of each mortgage. A Renewal Account Manager can help you choose what’s right for you.

See Mortgage Options

Yes, please use our Mortgage Payment Calculator to discover how much your mortgage payments could be and compare different mortgage renewal options to find what works best for you.

When you acquire a mortgage, you agree to specific terms with your lender. When your initial term is up, it’s time to renew your mortgage. For example, if you agreed to a five-year, fixed-term mortgage, after five years, it’s time to renew your mortgage and agree to new terms.

You can renew your MCAP mortgage within 90 days of your renewal date (commonly known as your maturity date).

Please note: This time period is subject to change with or without notice.

If your mortgage reaches maturity without a renewal, don’t worry- we’ll automatically place you into a short-term flexible option designed to give you more time to make the right decision.

If you have an MCAP mortgage, renewing your mortgage is fast, simple, and easy!

Here’s how:

• We will send you a renewal notice through MyMCAP or by mail


• Select a mortgage product or term for your renewal


• Sign the document and return it to us


• MCAP will update your mortgage and send a confirmation

Absolutely! You can pay off your mortgage in part or in full when it comes up for renewal. Once your mortgage term expires, the balance left on your mortgage becomes due and payable. You have the flexibility to pay off the entire remaining debt without any prepayment penalties.

There is no definitive answer to this question because depending on changes in interest rates since the last time you agreed to the terms of your mortgage, your payment could go up or down.

This is why planning ahead for your mortgage renewal is essential. When you plan for your renewal before your maturity date, you have the time to research rates, evaluate your financial goals, and compare mortgage products.

While it is possible to be denied a mortgage renewal, it is relatively uncommon.

If you’re up for a mortgage renewal and your financial situation has changed, contact your MCAP Renewal Account Manager. They can guide you through the mortgage renewal process and help you assess your options.

Please use our Mortgage Payment Calculator to help get a better understanding of what you can afford.

If you’re an existing MCAP homeowner, you can start your mortgage renewal with your Renewal Account Manager. They’ll work with you to find the best mortgage that meets your needs.

There are six major benefits in renewing your mortgage with MCAP:

1. Competitive Rates: Whether you renew online or with our Renewal Account Managers, we will work with you to get the best rate.


2. Mortgage Life & Disability Insurance: Protect your loved ones and your assets with simple & affordable insurance options.


3. Prepayment Privileges: Take advantage of prepayment options to become mortgage-free sooner.


4. Tap into Your Home’s Equity: You can access funds for debt consolidation or home renovations if you qualify.


5. Online Access: Check balances, upcoming payments, and documents at your fingertips with MyMCAP.


6. MyHome Sweepstakes: Participating MCAP homeowners have a chance to win monthly prizes. Click here for more information.

To renew your mortgage, all we’ll need is your signed renewal agreement. If you’re a Quebec homeowner, we’ll also ask you to complete a privacy consent page.