VIP M-Power - Variable Interest & Payment
Get the lowest rate and the most features including between 15 to 30 year amortization with MCAP’s VIP M-POWER.
- Benefit immediately from a lower rate if MCAP Prime decreases — rate changes whenever MCAP Prime changes (effective one business day after a change in MCAP Prime)
- Convert to MCAP’s best rate at any time without penalty provided that the new closed fixed rate term plus the time elapsed on the original VIP M-Power mortgage is greater than or equal to 5 years
- Enjoy more affordable mortgage payments with extended loan amortization periods of up to 30 years on uninsurable and up to 25 years on (high ratio / insurable)
- VIP M-Power is also eligible for these MCAP loan programs:
- Secondary Home
- Small Rentals
|VIP M-Power Product Details|
5 year closed
Gifted or from own resources
Between 15 to 30 years on uninsurable. 15 to 25 years on high ratio / insurable
Monthly, semi-monthly, bi-weekly, weekly (accelerated)
|20% + 20% Prepayment Privilege||
|*Some exceptions available for transfer ins.
Subject to change without notice.