MCAP Blog

As home prices continue to climb and home equity increases across the country, you may have considered if a Home Equity Line of Credit (HELOC) is right for you. A HELOC is a revolving line of credit that is secured against the equity in your home. In Canada, there are approximately 3 million HELOC accounts with an average outstanding balance of $70,000. Before applying for a HELOC, here are some things to help you determine if it’s the right choice for your financial situation and goals.

At MCAP, one of our top priorities is giving back and supporting the communities where we work and do business. In 2024, we had the privilege of supporting many deserving organizations and charities across Canada with the help of our brokers and employees. Here are some of the highlights from 2024!

For many homeowners, paying off their mortgage is one of their biggest financial goals. It’s a great accomplishment to strive for and with the right knowledge, tools and financial discipline, it’s definitely achievable.

Introduced in March of 2022, the Canada Mortgage and Housing Corporation (CMHC) MLI Select program offers commercial developers a mortgage loan insurance product focused on affordability, accessibility, and climate compatibility. The goal of this government-backed initiative is to promote investment in affordable housing for Canadians – something that is needed in the current housing and rental market. For developers, the benefits of using MLI Select include access to reduced premiums, reduced debt service coverage and longer amortization periods, and improved affordability during construction. Existing property owners can also access the program based on program criteria.

As we prepare for another year of MyHome Sweepstakes, we’re excited to share the great prizes we have in store for our homeowners in 2025. Lucky MCAP homeowners will have the chance to win the highest individual prizes in MyHome Sweepstakes history!