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
|VIP M-Power Product Details|
5 year closed
Gifted or from own resources
15 to 30 years - Uninsurable
Monthly, semi-monthly, bi-weekly, weekly (accelerated)
|20% + 20% Prepayment Privilege||
|*Some exceptions available for transfer ins.
Subject to change without notice.