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.