There is a wealth of resources available online that can help home buyers throughout the process of purchasing a first home, recreational property or investment property, and refinancing options to consolidate your debt or for home improvements. Here are some free resources available from MCAP:
Common Mortgage Terminology
When you’re reviewing mortgage documentation, there is terminology that at first glance may appear very complicated. Reviewing common mortgage terms can help you have a better understanding of your mortgage and the associated documents required to help you manage the process and your overall finances. Click here for common mortgage terminology.
Mortgage Calculators
Using online mortgage calculators can provide you with guidelines which may give you an idea of the funds you’ll require to pay for your mortgage, your maximum mortgage amount, how changes to payments may impact your amortization schedule, how much it might cost to purchase protection for your home and mortgage, and how much is may cost you to break your mortgage. Visit us online for a selection of mortgage calculators.
Mortgage Rates
Mortgage rates from various lenders can be found online, but understanding how rates are provided and which mortgage solution works best is better answered by a mortgage broker or by your current mortgage provider based on your financing needs, mortgage goals, and current financial situation. Mortgage brokers can access a wide range of lenders and provide expert advice that can help you make the best decision. MCAP offers a free online Find a Broker tool that can help you find a mortgage broker in your area.
Not sure if you need a mortgage broker? Read about what a mortgage broker can do to simplify the home buying process for you here.
Need More Information?
Contact your mortgage broker for assistance. If you do not have a mortgage broker, find one using the Find a Mortgage Broker tool.
If you wish to contact MCAP for more information about your mortgage, contact us at 1-800-265-2624 or service@mcap.com.