MCAP Mortgage Lender Profile
Generally for Prime borrowers purchasing, refinancing, renewing or transferring a mortgage through a broker, who want one company handling it throughout.
Who they are
MCAP is a Canadian mortgage finance company founded in 1981 and headquartered in Toronto, with further offices in Vancouver, Calgary, Waterloo and Montreal. It describes itself as Canada's largest independent mortgage finance company, and reports more than $155 billion in assets under management, over 700,000 homeowner customers and more than 1,400 employees. A substantial stake is held by the Caisse de depot et placement du Quebec, which first invested in the commercial and construction business in 2002. MCAP originates, trades, securitises and services mortgages across residential, commercial and development finance lines.
What they lend on, and who for
On the residential side MCAP is a broker-channel lender. It operates no retail branches, so you reach its products through a licensed mortgage broker rather than by applying yourself. It lends on insured, insurable and uninsured prime residential mortgages for purchases, refinances, renewals and transfers, and offers features such as bridge financing. It also stands behind a family of related brands, including RMG Mortgages, the Eclipse alternative programme, and MERIX and Lendwise, which came with its 2021 acquisition of Paradigm Quest. Because MCAP services the mortgages it funds, one organisation handles your mortgage from funding through to renewal.
How to approach MCAP
You can contact MCAP yourself; nothing stops you. What you cannot easily find out is what they will actually accept. How they read self-employed income, which add-backs they allow, how they treat rental income, and what they will accept in place of the documents you cannot produce — none of that is published in full anywhere, and it moves.
A licensed broker who places files with lenders like this every week knows those criteria, and more usefully knows how to structure a file so it lands inside them rather than just outside. On anything that is not a straightforward salaried purchase, that structuring is most of the difference between an approval and a decline. It costs you nothing on a prime mortgage — the lender pays the broker when it funds.
| Lender type | Monoline |
| Registered as | MCAP Financial Corporation |
| Head office | 200 King Street West, Suite 400, Toronto, ON M5H 3T4 |
| Website | mcap.com |
| Phone | 1-800-387-4405 |
Get notified 90 days before your renewal
Your lender contacts you at 30 days, when you have no time to shop. We reach you at 90 — early enough to lock a hold and personalize your offers.
Borrower ratings for MCAP
In today’s world, reviews dictate the service industry. Brokers have taken the hit for bad lenders. We bring the consumer experience to light to help borrowers decide.
How quickly did they issue a commitment and get to funding?
Was the rate you got competitive for the product you qualified for?
Could you reach someone, and did they resolve things?
Portal, e-signing, document upload, online account — did it work?
Were the terms, fees and penalties clear before you signed?
Worked with MCAP?
Score them on the five things above. We confirm every review by email before it publishes, and we publish the bad ones too.
Questions about MCAP
Is MCAP a real mortgage lender?
Yes. MCAP is a monoline based in Ontario. Its own site is mcap.com.
What kind of lender is MCAP?
Monoline. Mortgages and nothing else, sold through brokers. Best pricing in the market and usually the fairest penalty formulas. Most Canadians have never heard of them, which is exactly what this directory is for.
Should I go to MCAP directly or through a broker?
You can approach them yourself. The reason most people do not is that a lender's real criteria — how income is read, what is accepted as documentation, what will be allowed as an exception — are not published, and they change. A broker who works with MCAP regularly knows them and knows how to present a file to fit them, which on anything other than a simple salaried purchase is usually what decides the answer. On a prime mortgage it costs you nothing either way, because the lender pays the broker when it funds.
Would MCAP approve me?
No profile page can answer that, and any site that tries is guessing. It turns on how your income is earned and how much of it a lender will count, your credit history, the property itself, and how much you need against what it is worth. Those are the questions a licensed broker asks before naming a lender — and they will tell you which ones realistically fit, this one included, and which would price it better.
Where does MCAP lend?
Its head office is in Ontario. Lending areas change and are not always the same as where the lender is based — confirm current coverage with the lender or a broker before planning around it.
Would MCAP take your file?
Send us the details and a licensed broker will tell you which lenders fit — this one included, and the ones that would price it better.
Send us the file