MCAP · Monoline lenderMCAP mortgage rates — and how to beat the posted rate.
MCAP’s broker rate is typically 15-30 bps below the rate you’d see walking into a branch. We compare it against 100+ lenders so you get the best fit, not one bank’s sheet.
What are MCAP’s mortgage rates?
MCAP isn’t posting every term on our board. Where it isn’t, the card shows the best in our network.
- Lender type
- Monoline lender
- Headquarters
- Toronto, ON
- Established
- 1990
- Products
- 5+ types
How does MCAP’s broker pricing work?
MCAP has two rate sheets: a posted rate for branch customers and a lower broker rate, usually 15-30 bps lower. Only a licensed brokerage can get the broker rate. On a $600,000 mortgage, 20 bps is about $1,200 a year.
Why MCAP's broker rate is lower, and what MCAP does well
Most Canadian lenders, MCAP included, run two rate sheets: a posted/branch rate quoted to walk-in customers, and a wholesale broker-channel rate offered through licensed mortgage brokers. The broker rate is usually 15-30 bps lower because the broker handles origination, document collection and file packaging — work the lender would otherwise pay branch staff to do.
You can’t access the broker rate by walking into an MCAP branch — only a licensed brokerage can submit to their broker desk. We do exactly that, then put the same file in front of 100+ other lenders so MCAP’s offer is benchmarked against the whole market. On a $600,000 mortgage, 20 bps is roughly $1,200 a year in interest — real money over a 5-year term.
- Aggressive insured pricing
- Fair-IRD penalty calculation
- MCAP Eclipse alt-A program
- BFS-friendly full-doc files
MCAP mortgage rates — FAQ
What are MCAP's mortgage rates today?
Lenders run two rate sheets — the posted/branch rate and the broker-channel rate. As an FSRA-licensed brokerage we access MCAP's broker-channel pricing, typically 15-30 bps below their posted rate. Your exact rate depends on your file (income, credit, LTV, property).
What's the difference between MCAP's posted rate and the broker rate?
The posted (or "special offer") rate is what you see advertised or quoted in a branch. The broker-channel rate is the wholesale pricing MCAP offers through licensed brokers — usually 15-30 bps lower because the broker does the origination work. You can only access it through a broker; we submit your file directly to MCAP's broker desk.
Is MCAP a good mortgage lender?
Canada's largest non-bank mortgage funder. Typically prices 10-25 bps below the Big-6 on insured purchases. The MCAP Eclipse program is one of the few alt-A monoline programs at competitive rates. Broker-channel only.
Can I get a lower rate than MCAP's rate?
Sometimes. MCAP is strong for certain files, but another of our 100+ lenders may price your specific situation better. We compare MCAP against the whole network on one application — you get MCAP's best and the market's best, then choose.
Can I switch to MCAP at renewal?
Yes — switching to MCAP at maturity is usually penalty-free, and a straight transfer (same balance, same amortization) skips the stress test. We handle the paperwork and confirm MCAP's renewal/switch pricing against the rest of the market so you don't auto-renew at a higher rate.
Does MCAP offer rate holds?
Yes — like all major Canadian lenders, MCAP offers rate holds (typically 90-120 days) for pre-approved borrowers. We can submit your file to MCAP for a real underwritten pre-approval.
How do I apply for an MCAP mortgage?
Through a licensed broker you reach MCAP's broker channel directly. Start a no-obligation application with Mortgage Squad Advisors (FSRA #13737) and we'll submit to MCAP — and compare it against the rest of the network — with no bureau pull to begin.
Get MCAP’s best rate — and 100+ others.
One application, no credit pull to begin. We submit to MCAP and shop the whole network for your file.
Bring us a written offer from a big bank. We’ll try to beat it. If we can’t, we pay you $500. Conditions apply. See the conditions