What is the current MCAP prime rate?
MCAP’s Prime Rate is used as the basis for many of MCAP’s lending products including variable rate mortgages, lines of credit, andHELOCs. Prime, or P, is normally combined with a spread to make up the final interest rate. Current MCAPPrime Rate: 2.45% Last Changed: April 2, 2020 MCAP Fixed-Rate Mortgages
Is MCAP bigger than a bank?
MCAP is one of the largest independent Mortgage Finance Companies. With over $100 billion in assets under management, MCAP is much smaller than the big banks, but has a range of mortgage products that might suit your needs. How do MCAP mortgage rates compare with the big banks?
What are the benefits of MCAP?
As well, you will have the peace of mind that if during your term you want to have a fixed interest rate, you are able to convert your mortgage to one. MCAP offers multiple amortization periods as well, with the ability to have a 15 to 30 year amortization for uninsured mortgages, and a 15 to 25 year period for insured ones.
What is an MCAP mortgage?
This MCAP mortgage product will offer you the benefit of a variable rate mortgage, where your mortgage rate will fluctuate with the prime interest rate, while giving you the ability to convert it to a fixed rate mortgage at any time.