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MCAP mortgage

MCAP mortgage calculator

Estimate your MCAP mortgage payment using sample posted rates and Canadian semi-annual compounding. Pre-populated with a representative MCAP 5-year fixed; adjust to your actual quote.

Your scenario

Result

Payment per month
$4,122.22
Monthly P&I
$4,122
Total interest
$516,665
Total paid
$1,236,665
Annual prepay privileges
20% / 20%

Sample rates only. Mortgage360 is an independent platform — NOT affiliated with MCAP. Confirm posted rates and prepayment terms directly with MCAP or your mortgage broker before any decision.

Independent tool: This calculator uses sample MCAP posted rates and is NOT affiliated with MCAP. Always confirm your actual quote with the lender or your broker.

About MCAP mortgages

Major broker-channel monoline lender. Strong on flexible underwriting + competitive rates. Recently launched RES Mortgage product line.

MCAP prepayment privileges

Standard MCAP closed mortgages allow 20% / 20% annual prepayment privileges (lump-sum percentage of original principal / payment-increase percentage). Use these to pay your mortgage down faster without triggering a penalty. Run the math in our prepayment savings calculator.

Signature products + programs

  • RES Mortgage — primary residential product, full features
  • Eclipse — alt-A / BFS-friendly product line
  • Construction draws — purpose-built for builder + custom builds
  • Standard / Collateral charge options

What brokers tell their clients about MCAP

Like First National, broker-exclusive. Often pairs well with a Big-5 HELOC if you want the lower rate on the first mortgage.

How this calculator works

The math uses Canadian semi-annual compounding (Bank Act convention) — converting the nominal annual rate to an equivalent per-period rate. Output stays consistent whether you choose monthly, bi-weekly, accelerated bi-weekly, or weekly. Run a side-by-side variable scenario in our fixed vs variable calculator, or test what happens if you break the mortgage early in our break penalty calculator.

Renewing or refinancing with MCAP?

Your renewal letter typically arrives 4-6 months before maturity. Most borrowers accept whatever rate is offered — but MCAP discounts hard when challenged. See what to do 90 days before renewal and run the math in our renewal comparison calculator.

Other Canadian lender calculators

Compare side-by-side with other major Canadian lenders:

Bottom line

MCAP is one of several major Canadian mortgage lenders Mortgage360 tracks on the live rates board. The calculator above lets you stress-test your scenario at a representative MCAP rate. For your real quote, call MCAP directly or work with a broker who can put your file through multiple lenders simultaneously.