MCAP mortgage calculator
Estimate the payment on a MCAP mortgage at the rate on your quote, then check MCAP's own published rules for prepaying, porting and breaking the mortgage. Independent tool — not affiliated with MCAP.
Your scenario
Result
The starting rate of 4.84% is illustrative, not a MCAP rate — enter the rate on your own quote. Mortgage360 is an independent platform, NOT affiliated with MCAP.
Rules checked: September 2026. Sources: MCAP: lump-sum payments · MCAP: our mortgages · MCAP: buying your next home
About MCAP
MCAP is a Canadian mortgage lender.
MCAP prepayment privileges
MCAP lets you prepay up to 20% of the original amount borrowed each year, and advertises lump-sum and payment-increase privileges on its fixed product. Confirm the payment-increase percentage for your product on your commitment. Model what a lump sum does to your amortization in the prepayment savings calculator.
Porting a MCAP mortgage
MCAP offers porting, including ports where the new mortgage is smaller than the old one.
How MCAP calculates the penalty to break
MCAP's public pages do not set out how it calculates the prepayment charge on a fixed mortgage. Ask for the method and a sample calculation before you sign. Estimate the difference between the two methods in the mortgage penalty calculator.
What that means for you
A 20% annual lump sum is at the generous end of the market. Because the penalty method is not published, get it in writing if there is any chance you will break the term.
How this calculator works
Canadian fixed-rate mortgages state their rate compounded semi-annually, not in advance — the convention that follows from section 6 of the federal Interest Act. The calculator converts the rate you enter into the equivalent rate for your payment frequency, so monthly, bi-weekly and weekly results stay consistent. Accelerated bi-weekly pays half the monthly amount every two weeks, which adds the equivalent of one extra monthly payment a year.
Sources
Checked September 2026. Lenders change their terms; your commitment letter is what binds you.
Compare with other lenders
Prepayment and penalty rules differ more between lenders than rates do. Compare the published terms of other Canadian lenders:
- TD Canada Trust mortgage calculator
- RBC Royal Bank mortgage calculator
- Scotiabank mortgage calculator
- BMO Bank of Montreal mortgage calculator
- CIBC mortgage calculator
- National Bank of Canada mortgage calculator
- First National Financial mortgage calculator
- Merix Financial mortgage calculator
- Manulife Bank mortgage calculator
- Desjardins mortgage calculator
Renewing or refinancing with MCAP?
A renewal offer is usually negotiable, and since November 2024 a straight switch to another lender at renewal no longer requires passing the stress test again. Put the offer against a competing quote in the renewal comparison calculator.
Mortgage agent or broker? Calculators like this one embed on the website you already have, and Mortgage360 campaign landing pages capture the enquiries they start straight into your CRM.