MCAP is one of Canada’s largest financial institutions, offering a wide variety of residential and commercial lending solutions. With innovative products, transparent pricing, and a client-first approach, MCAP is a strong choice for homeowners looking for flexibility and competitive rates. Here’s why MCAP stands out:

Unique Products and Features

1. Value Flex Mortgage
   MCAP’s Value Flex Mortgage offers lower rates—typically 10 basis points below their standard rates. However, this product includes a bona fide sale clause, meaning you cannot switch lenders during the term unless you sell the property in a non-arm’s-length transaction (e.g., not to a family member). This lower-rate option is ideal for those committed to staying with MCAP throughout the term of their mortgage.

2. HELOC Mortgage Options
   Unlike most non-bank lenders, MCAP offers a Home Equity Line of Credit (HELOC)—a feature typically reserved for major banks. With no posted rates or inflated penalties, MCAP provides the flexibility of a HELOC with the transparency and cost-effectiveness of a non-bank lender. This includes the ability to place a HELOC in second position behind another mortgage.

3. No Posted Rates = Transparent Penalties

   • Unlike big banks, MCAP does not use inflated posted rates to calculate interest rate differential (IRD) penalties. This means penalties for breaking a fixed mortgage with MCAP are often up to 80% lower than those charged by the big banks.

   • On renewal, there’s no need to negotiate for a lower rate. MCAP offers their best rate upfront, ensuring full transparency and simplicity.

4. Exclusive Appliance Warranty
   MCAP offers a complimentary appliance warranty for the first year of your mortgage, covering unforeseen breakdowns on appliances in your home. After the first year, you have the option to continue coverage for less than $20 per month. This unique feature is exclusively available through MCAP.

Flexibility and Options for Every Borrower

• Mortgages Without Bona Fide Sale Clauses:
  If you prefer flexibility to switch lenders during your term, MCAP also offers standard mortgage products without bona fide sale clauses. These mortgages are typically priced 10 basis points higher than the Value Flex option.

• Tailored Solutions:
  Mortgages aren’t one-size-fits-all. Your financial situation is unique, and my job is to help you find the perfect lender and mortgage product to suit your needs. Whether you’re purchasing a new home or refinancing an existing one, MCAP’s range of products offers something for everyone.

Why Work With Garth Financial?

At Garth Financial, we have a strong relationship with MCAP, allowing us to secure some of the lowest mortgage rates on the market for our clients in Powell River. Our insider knowledge of MCAP’s products and policies ensures that we can guide you toward the best possible solution, whether it’s a Value Flex Mortgage, a HELOC, or a standard mortgage product.

Let’s Get Started

Call Garth Financial, your trusted Powell River mortgage brokers, today to discuss whether MCAP is the right fit for your financing needs. I’ll walk you through all available options and ensure you get a mortgage that aligns with your goals.

Contact us now or apply online to get started. Let us help you secure the best mortgage for your new or existing home in Powell River!