Lender
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Apply For MCAP

Advertiser Disclosure

How to apply for a loan?

First, customers need to contact an expert from the company’s Mortgage Solutions Centre to clarify a few details about the property customers are looking to finance. As soon as they understand customers’ needs, that expert can help them start the application process.

Requirements

MCAP is a company that provides its services through independent mortgage brokers, so as a result, some requirements depend on them, and customers need to contact them in the first place. Nevertheless, customers still must fit in some basic requirements such as being over the age of majority, being Canadian citizens, having an appropriate credit score, and providing the required documentation such as ID, Income Documentation, Down Payment Documentation, and Property Valuation Documentation. 

Application details

Customers will be asked to provide personal data such as full name, address, phone number, and email address. Also, they will need to provide the company with the mortgage amount and expected downpayment. Moreover, the company’s representative will ask customers for employment information like current job, income, employment history, employer and occupied position, and financial details like all sources of income, expenses, assets, and liabilities. Finally, customers need to contact an expert from the company’s Mortgage Solutions Centre for more detailed information.

MCAP application

FAQ

How long does it take to get approved by MCAP?

The approval time depends on several factors, such as the mortgage amount, downpayment, customers’ eligibility, and the broker that the company works with. As a result, the time of approval may vary strongly.  

How trustworthy is MCAP?

MCAP is one of the oldest Canadian mortgage financing companies. However, it has only 1 star of 5 on BBB, according to 15 customers’ reviews. 

Does MCAP verify income?

Yes, the company verifies customers’ income. This is a part of the application process, and customers’ eligibility also depends on it.   

Does MCAP hurt your credit score?

If customers pay regularly and according to their schedule, their credit scores will not be hurt. However, default payments can affect their credit rating badly if they don't.  

Financial products
MCAP
Mortgage
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
Term
i

Loan term for the financial product

up to 25 years
Similar products
Best Quick Loan Today 21.05.2024*
Mr. Payday
Need a Quick Loan Now?
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
up to $10.000
Coast Capital Savings
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$50,000
Rate
i

Effective interest rate on the product

7.5%
Term
i

Loan term for the financial product

60 months
Mogo
Personal Loan
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$15,000
Rate
i

Effective interest rate on the product

up to 46.96%
Term
i

Loan term for the financial product

up to 60 months
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
$500-$10,000
Rate
i

Effective interest rate on the product

up to 46.93%
Term
i

Loan term for the financial product

open-ended
Rating by Finanso®
i

The rating by Finanso® is determined by our editorial team. The scoring formula includes a financial product type as well as tariffs, fees, rewards and other options.

Recommended FinScore™
0
300
650
1000
to 1500.00 C$
Rate
i

Effective interest rate on the product

147.18 – 599.64 %
Term
i

Loan term for the financial product

1 days – 62 days
Your comment has been added
Error
Your complaint has been recorded
Invalid username or password
comment.alert.error-reg
Please log in to like/dislike
Invalid SMS code has been entered
All MCAP’s reviews by may 2024
Leave feedback
Similar companies
Urgent Loans
61 King suite 405 Montreal, Quebec H3C 2P1
Newstart
1801-1 Yonge St. Toronto, Ontario M5E 1W7
Fora Credit
PO Box 17071, Toronto, RPO Yonge-King, ON M5E 1Y2
+1 (888) 899-3672
AimFinance
355-4480 Chemin de la Côte-de-Liesse Mont-Royal, Québec H4N 2R1 Canada
+1 (888) 664-1982
Windmill Microlending
220 – 20th St W, Suite 210, Saskatoon SK S7M 0W9
+1 (855) 423-2262