VIP M-Power - Variable Interest & Payment
Get a low variable rate and our best features 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 insured / insurable
- VIP M-Power is also eligible for these MCAP loan programs:
- Secondary Home
- Small Rentals
- Transfers
VIP M-Power Product Details | |
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Purpose |
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Property Type |
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Term | 5 year closed |
Rate |
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Loan Amount |
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Maximum (LTV) |
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Down Payment | Gifted or from own resources |
Amortization* | 15 to 30 years - Uninsurable |
Payment Options | Monthly, semi-monthly, bi-weekly, weekly (accelerated) |
20% + 20% Prepayment Privilege |
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Early Payout |
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Other |
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Conversion |
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*Some exceptions available for transfer ins. Subject to change without notice. |
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