MCAP Blog

Mortgages can be a mystifying topic for many Canadians, and there are plenty of misconceptions out there. These mortgage myths can cause confusion and may even deter potential buyers from pursuing their homeownership dreams. Here, we debunk five common mortgage myths, offering clarity and confidence to anyone thinking about buying a home.

Spring is in the air – a time when Canadians look forward to warmer weather, more daylight, and the welcome disappearance of snow and ice. But the change in seasons isn’t just something that happens in nature. It’s a cue for homeowners to refresh and maintain their homes. After months of harsh winter conditions, a little attention now can get your home ready for the season ahead. The checklist below covers some important spring home maintenance tips to help you tackle essential tasks and keep everything running smoothly.

If you have a mortgage, chances are you’ll have to renew your mortgage contract a few times before your mortgage is paid off. Mortgage renewals are a typical part of the mortgage lifecycle, but many homeowners are caught off guard when it’s time to renew.

Whether you’re looking to buy your first home, paying down your mortgage, or exploring how a rate change may impact your mortgage payments, the MCAP Mortgage Payment Calculator is a useful resource at all stages of your homeownership journey. In this blog, we’ll take a closer look at the different features of the calculator and how to use it to simplify homeownership in your situation.

As home prices continue to climb and home equity increases across the country, you may have considered if a Home Equity Line of Credit (HELOC) is right for you. A HELOC is a revolving line of credit that is secured against the equity in your home. In Canada, there are approximately 3 million HELOC accounts with an average outstanding balance of $70,000. Before applying for a HELOC, here are some things to help you determine if it’s the right choice for your financial situation and goals.