MCAP Blog

If you have a mortgage, chances are you’ll have to renew your mortgage contract a few times before your mortgage is paid off. Mortgage renewals are a typical part of the mortgage lifecycle, but many homeowners are caught off guard when it’s time to renew.

Whether you’re looking to buy your first home, paying down your mortgage, or exploring how a rate change may impact your mortgage payments, the MCAP Mortgage Payment Calculator is a useful resource at all stages of your homeownership journey. In this blog, we’ll take a closer look at the different features of the calculator and how to use it to simplify homeownership in your situation.

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.

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.

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!