Do you have questions about using MyMCAP? We have posted answers to some of the most asked questions. If after reviewing these you still have questions please use the contact form to send us an email or you can call us at 1 800 265 2624.
  • MyMCAP
    • About MyMCAP
      • What is MyMCAP?
        • MyMCAP is the online portal that gives you 24/7 access to your home loan details. Log in or register to access:
          • Mortgage balance
          • Payment details & history
          • Amortization schedule
          • Correspondence & Statements
          • Property tax information & history
          • Manage additional payments
          • Enter Sweepstakes contest
          • Withdraw funds from your Line of Credit
          • Pay outstanding arrears
          • More upcoming features in the future
      • Is MyMCAP a secure site?
        • Absolutely! MyMCAP is completely private and secure. The system is password protected and encrypted to protect the confidentiality of your mortgage information.
    • Accessing MyMCAP
      • How do I gain access to MyMCAP?
        • To register for MyMCAP,
          • You will need your mortgage account number and the last four (4) digits of the bank account we withdraw your mortgage payments from.
          • An activation code will be sent to the email address or cell phone number provided during the registration process, along with a link to the activation page.
          • Enter the User Name and Password you have selected as well as the Activation Code on this page to complete the registration and gain access to MyMCAP.
      • I forgot my username. How do I retrieve it?
        • Click on the “Forgot my User Name” link located on the main Login page and follow the prompts to have your User Name confirmed.
      • I forgot my password. How do I reset it?
        • Click on the “Forgot my Password” link located on the main Login page and follow the prompts to have a temporary password provided.
      • I forgot the answer(s) to my security questions. Can I reset them?
        • If you are unable to answer your security questions correctly, please contact an expert from our Mortgage Solutions Centre. We can reset your password and existing security questions.
      • Is my browser supported by MyMCAP?
        • MyMCAP has been tested and is only confirmed to be compatible with the following browsers:
          • IE8 to IE11
          • Google Chrome
          • Firefox
          • Safari
      • The registration page is not accepting my information, how can I complete the registration?
    • Manage MyMCAP Account Details
      • Can I change my username or email address associated with my account?
        • Yes! Log in and go to the “My Profile” page to update your information.
      • I have more than one mortgage with MCAP. Is it possible to see all my mortgages on MyMCAP?
        • Yes! Log in and go to the "My Profile" page and click on the "Add Another Mortgage" option.
      • I have questions about the mortgage information I see on MyMCAP. Who should I contact?
    • Troubleshooting
      • I’m receiving a message indicating I am locked out. How can I unlock my account?
        • If you were unsuccessful 3 times in your attempt to log in, your account will be locked for 30 minutes. At this point you have two options:
          1. 1. Simply wait 30 minutes, and the account will unlock automatically. (For security, attempting to log in before 30 minutes have passed will result in extending the lock an additional 30 minutes.)
          2. 2. You can contact an expert from our Mortgage Solutions Centre to unlock your account and reset your password.
      • Why am I receiving the error message "Mortgage is not eligible to be registered"?
        • The common reasons why your mortgage isn’t eligible for viewing on MyMCAP at this time, may include but are not limited to:
          • If your mortgage was paid out more than a year ago, it will not be eligible for registration
          • If your mortgage is currently under legal action for collection of outstanding amounts, it will not be eligible for registration
          • If your mortgage is brand new and funds have not yet been sent to your lawyer, you will not be eligible to register until the mortgage has been fully set-up
      • I'm having difficulties with MyMCAP and can’t find the answer online.
  • Applying for Mortgage Financing
    • Applying for a New Mortgage
      • I would like to apply for a mortgage with MCAP. How do I get started?
        • Please contact an expert from our Mortgage Solutions Centre to clarify a few details about the property you are looking to finance. Once we have an understanding of your needs, that expert can help you get the application process started.
      • Can you tell me what I would qualify for before applying?
        • Mortgage approval can depend on a variety of factors, and as such, we aren’t able to offer pre-approvals. To get started, this Maximum Mortgage Calculator can help you approximate how much of a mortgage you could apply for based on your current income and expenses. Alternatively, you can contact an expert in our Mortgage Solutions Centre to start the conversation and find out next steps.
      • My credit’s not the greatest; can you still help me get a mortgage?
        • Absolutely! We understand that life may sometimes present challenges, and we have a wide variety of programs and options available to support many different life scenarios, including helping you during a time of rebuilding credit. Please contact an expert from our Mortgage Solutions Centre to find out more.
    • Refinance My Existing Mortgage
      • I would like to access the equity in my home and refinance my mortgage. How do I get started?
        • Please contact an expert from our Mortgage Solutions Centre to review some details about what you are looking to do. If the option sounds like the right one for you, we can get the application started immediately.
      • Can I consolidate other debt with a refinance?
        • Absolutely! Refinancing can be a great way to use the equity in your home to save you money by paying less interest on higher balance loans and credit cards.
      • Can you tell me how much I would qualify for refinancing before applying?
        • The amount you can be approved for can depend on a variety of factors including your income and the value of your home. We can look to qualify and approve you for up to a maximum of 80% of the current value of your home. You can use this Maximum Mortgage Calculator to give you an idea of how much of a mortgage you may be able to get approved for by entering your current income and expense details.
  • Correspondence & Statements
    • Annual Statements
      • The details about my mortgage listed on my annual statement are not correct.
        • The statement shows details as of December 31 of the previous year. If any changes took place after that time, they will not be reflected on this statement.
      • The payments received amount does not add up to the total of my mortgage payments over the year. Why is that?
        • The "Payments Received" category includes only the principal portion of your regular mortgage payments. The interest portion is reflected under the "Interest Paid" section.
      • When I add the principal paid and interest paid together it does not add up to the total of my mortgage payments over the year.
        • If you also have a tax portion and/or Mortgage Life Insurance, these portions of your payment are not reflected in either of these two categories.
      • Why does my annual statement show that I have 'no coverage' for Mortgage Life Insurance? I pay a premium every month.
        • This field indicates only that you are not currently taking advantage of the Mortgage Life Insurance with our company. It is possible that you have coverage with another insurance provider. We do offer Mortgage Life Insurance and Mortgage Life with Disability Insurance. If you would like more details on our solutions, please contact an expert from our Mortgage Solutions Centre.
      • I noticed that there is a surplus/credit in my tax account? Can I get this refunded to me?
        • The credit that is in your tax account will be used toward the payment of a future property tax bill, as the municipality’s billing cycle for taxes is different than a calendar year. This is simply a snapshot of how much is in your tax account as of December 31st.
    • Mortgage Statements
      • How can I obtain a recent mortgage information statement?
        • All of your current mortgage details, along with annual statements and other correspondence can be found online by signing into MyMCAP. If a specialized mortgage information statement on letterhead is required, please contact an expert from our Mortgage Solutions Centre. (Please note, a fee may apply as outlined in your mortgage agreement)
      • I need another copy of a document you sent me in the past. Where can I find all my mortgage documents?
        • Most correspondence and previous statements can be found online by signing into MyMCAP. If you don’t see it online, or you have a specialized request, please contact an expert from our Mortgage Solutions Centre. (Please note, a fee may apply for duplicates and historical requests as outlined in your mortgage agreement)
      • I need information about my mortgage for filing my income taxes, where do I find this information?
        • A summary of the information typically needed for filing income taxes is on your Annual Statement. This can be found online by signing into MyMCAP and visiting the "View Documents" section. Please note, annual statements for the previous year are produced between January 1 and February 28 of the following year. For example, your 2017 annual mortgage statement will be produced and sent to you in either January or February 2018.
      • I recently received a statement from MCAP, but I don’t see it in my document section online. Where is it?
        • Not all correspondence is available for viewing on MyMCAP. If you don’t see a document you require, please contact an expert from our Mortgage Solutions Centre. (Please note, a fee may apply for certain documents as per the terms & conditions of your mortgage agreement)
      • I need a statement showing the history of all my mortgage payments.
        • Your mortgage payment history can be found online by signing into MyMCAP. Once logged in, go to the ‘Mortgage Activity’ tab to view your payment history. You can select “Export to CSV” to have your entire payment history exported to Microsoft Excel.
  • Discharges
    • I recently paid out my mortgage. Do I need to cancel my Mortgage Life Insurance, Property Tax Service or my Pre-Authorized payments?
      • Once your mortgage has been paid out in full your Mortgage Life Insurance policy will be cancelled automatically. The same applies for our property tax service; upon discharge we will notify the municipality that we will no longer be paying taxes on your behalf. All future pre-authorized payments will also be automatically cancelled once your mortgage has been paid out in full.
    • What happened to the money I paid for property taxes before my mortgage paid out? The municipality sent me a bill but I paid taxes through my mortgage.
      • If your mortgage was paid out before the final tax bill for the year was due, any remaining surplus is applied as a credit to the balance due to payout your mortgage. In order for us to discharge your mortgage, we can no longer pay property taxes on your behalf. A summary of this information can be found on the payout statement that was sent to whomever requested to payout your mortgage. A copy will also be available under the "View Documents" section of MyMCAP.
    • When will I receive my discharge documents?
      • Depending on your province, the discharge documentation will be produced and sent 30-60 days after your mortgage has been paid out in full. Any discharge documents that are sent, will be sent to whomever requested to payout your mortgage.
  • Mortgage Changes
    • How do I change the bank account my payments are withdrawn from?
      • To change your banking information we require 2 documents be sent to us and at least 10 calendar days before the requested effective date:
        1. 1. Pre-Authorized Debit (PAD) Agreement (found here), and
        2. 2. Confirmation of account ownership (one of the following):
          • A void cheque, pre-printed with account-holder name(s) and address
          • A screen print from online banking showing account numbers and account holder name(s)
          • A stamped and signed form from financial institution showing account numbers and account holder name(s)
          • E Switch form from your financial institution
          • A Monthly bank statement (front and back of all pages)
        The following conditions must be met in order for the documents to be accepted and the change to be made:
        • The bank account must be a personal chequing or savings account (business accounts and line of credit bank accounts are not acceptable)
        • The bank account must be in the name of at least one person on the mortgage (This includes registered mortgagors, guarantors, power of attorney or executor. This does NOT include authorized third parties)
        We recommend the old account remain open with sufficient funds to cover the payments until you see the payments being withdrawn from your new account.
        You may send your completed Pre-Authorized Debit (PAD) Agreement and Confirmation of Account Ownership to us any of the following ways:

        Fax: 866 633 5930
        Email: loanupdate@mortgageservicing.ca

        Mail: Mortgage Servicing Centre
        P.O. Box 351 Stn. C
        Kitchener ON N2G 3Y9
    • How do I change how my name appears on my mortgage?
      • To change your name on your mortgage:
        1. 1. Send a request with the following:
          • Mortgage Number
          • Property Address
          • Brief description of the reason for change (marriage, reverting to maiden name, etc.)
        2. 2. One of the following documents below:
          • Passport
          • Driver's license
          • Marriage certificate
          • Birth certificate
          • Name change certificate
          • Government issued certification
        3. 3. Choose your preferred method of communcation:
          • Email: loanupdate@mortgageservicing.ca
          • Mail: Mortgage Servicing Centre
            P.O. Box 351 Stn. C
            Kitchener ON N2G 3Y9
          • Fax: 866 633 5930

        Once the required documentation is received, the name will be changed within 2 business days.
    • How do I change the people listed on my mortgage?
      • This is considered a covenant change and requires a qualification and approval to be completed. To find out more about the application and costs involved with adding or removing who is on your mortgage, please contact an expert from our Mortgage Solutions Centre.
    • How do I change the frequency of my mortgage payments?
      • To permanently change your payment frequency:
        1. 1. Login to your MyMCAP account
        2. 2. Under the "Self-Serve Options" menu tab, click "Change My Payment Frequency"
        3. 3. Select your mortgage number
        4. 4. Select the new frequency from the options provided
        5. 5. Select your preferred payment date from the calendar provided
        6. 6. Review the impacts of the change – Your maturity date, amortization and payments may all change. Important notification will advise of any costs associated with the change (interest adjustment, loan change fee)
        7. 7. Select continue button
        8. 8. Check the box to accept billing of any applicable amounts
        9. 9. Review details of payment frequency change request & confirm

        Please note, since mortgages pay backwards (not forward like rent) your next regularly scheduled mortgage payment still needs to be made as scheduled before the change can occur.

        Should you have any questions or concerns about your upcoming payment or making this change, please call us as soon as possible to discuss at 1 800 265 2624 (8AM to 7PM local time Monday to Friday).
    • How do I change the due date of my mortgage payments?
      • To permanently change the date of your scheduled mortgage payment:
        1. 1. Login to your MyMCAP account
        2. 2. Under the "Self-Serve Options" menu tab, click "Change My Payment Date"
        3. 3. Select your mortgage number
        4. 4. Select your preferred payment date from the calendar provided
        5. 5. Select continue button
        6. 6. Review the impacts of the change to your maturity date, as well as any fees or interest adjustment if required
        7. 7. Check the box to accept billing of any applicable amounts
        8. 8. Review details of your payment due date change request & confirm

        Please note, since mortgages pay backwards (not forward like rent) your next regularly scheduled mortgage payment still needs to be made as scheduled before the change can occur.

        Should you have any questions or concerns about your upcoming payment or making this change, please call us as soon as possible to discuss at 1 800 265 2624 (8AM to 7PM local time Monday to Friday).
    • How do I make my payments accelerated?
      • Both the bi-weekly and weekly payment frequencies are commonly accelerated by increasing the amount of principal taken with each mortgage installment. The calculation is done by taking the monthly principal and interest mortgage payment amount and dividing it by 2 or 4, respectively. Contact an expert from our Mortgage Solutions Centre for assistance in accelerating your payments.
    • How do I increase my regular mortgage payment amount?
      • You are entitled to increase the principal portion of your mortgage payment by a certain percentage each anniversary year. This is outlined in your mortgage agreement, and is commonly 20%. Please contact an expert from our Mortgage Solutions Centre for assistance in increasing your mortgage payment.
    • How do I make an additional payment (lump sum) to my mortgage?
      • To make additional payments to your mortgage (either one time or ongoing):
        1. 1. Login to your MyMCAP account
        2. 2. Click Manage Additional Payments, from ”Self-Serve Options” Menu tab
        3. 3. Click Make Additional Payment button
        4. 4. Select your mortgage account number
        5. 5. Select frequency (One Time or Ongoing)
        6. 6. Enter the amount of the additional payment(s)
        7. 7. Click continue button
        8. 8. Review details of Additional Payment request & confirm

        You are entitled to prepay a certain percentage of your original committed mortgage amount each anniversary year without penalty. This is outlined in your mortgage agreement, and is commonly 20%.

        Please note there is a minimum payment amount of $100 for any additional payment.
    • Can I lower my payment amount?
      • Depending on your current amortization period, we may be able to reduce the amount that you pay with each instalment. If you are already at your maximum amortization, we may be able to offer you an early renewal which may lower your interest rate. Please contact an expert from our Mortgage Solutions Centre to explore your options. Please note that a fee may apply for this change as outlined in your mortgage agreement.
  • Property Taxes
    • I received a property tax bill, but my property taxes are included with my mortgage. Should I send you this bill?
      • Most municipalities will still send you a copy of the property tax bill for your records, or for claiming any eligible grants.
        Do send us a copy of the bill if;
        • this is the first property tax bill we will be paying for you.
        • the bill is a supplementary bill.

        You can typically confirm if we also received the bill by looking for your mortgage company name or mortgage number somewhere on the bill, or an alert indicating "Do not pay".
    • I received my first tax bill since my mortgage started. Where do I send it?
      • You can send us a copy of your first tax bill any of the following ways:

        Fax: 866-370-0660

        Email: taxinfo@mortgageservicing.ca

        Mail: Property Tax Payments
        P.O. Box 351 Stn. C
        Kitchener ON N2G 3Y9

        Once the first bill has been paid by us, the city will update its information to indicate that we will be paying the taxes on your behalf so you will not need to send us a copy of your tax bill moving forward, unless you are otherwise notified by us.

        Please note: For properties in Quebec, you must send us every tax bill as your municipality will not send it directly to us.
    • How do I know if my property taxes are included with my mortgage?
        1. 1. Login to your MyMCAP account
        2. 2. Click your mortgage number on MyMortgage page
        3. 3. Select the Payment Details tab and refer to the Property Tax line
        4. 4. If an amount is indicated here, it means we are collecting a property tax portion with your mortgage payments in anticipation of paying your property taxes for you
    • I live in BC and I’m eligible for Home Owner’s Grant. Do I need to do anything?
      • The Home Owner’s Grant is run by the province of British Columbia, you must apply for this grant every year directly with the city; we are not able to apply for it on your behalf. Once we are aware of your grant status, we will continue to pay only the amount required based on your grant status each year, regardless if you have claimed it each year. You are responsible for any shortfall owed to the city as a result. Please contact our Mortgage Solutions Centre if your grant status has changed.
    • How do I add my property taxes to my mortgage?
      • Adding your taxes is easy! Send us a copy of a recent tax bill so we can calculate a required tax portion and notify your municipality that we will be taking care of your property tax payments going forward. You can send us a copy of a bill along with your mortgage account number and your request to add property taxes to us any of the following ways:

        Fax: 866-370-0660

        Email: taxinfo@mortgageservicing.ca

        Mail: Property Tax Payments
        P.O. Box 351 Stn. C
        Kitchener ON N2G 3Y9

        If you don’t have a bill yet, don’t worry, we can still start collecting in preparation for paying property taxes for you. Contact an expert from our Mortgage Solutions Centre with your annual tax estimate and any amounts that have already been paid this year (if applicable) to get started.
    • Is there a service charge or additional cost to having my property taxes included with my mortgage?
      • We provide property tax collection and payment services without any service charge. This service will ensure your bill is always paid on time and in full and help make budgeting for home ownership simpler. Please note that if a shortfall exists in your property tax account at any time, interest may accrue in the property tax account at the same interest rate on your mortgage agreement until the shortfall has been repaid.
    • Why is my property tax portion so high?
      • A property tax portion can be high for the following reasons including but not limited to:
        • We may need to set your property tax portion at a higher amount to ensure we have enough funds in your property tax account to pay property tax amounts to your municipality by their due date.
        • Tax portions can be higher than anticipated if a bill was recently paid that resulted in a shortfall in your property tax account that also needs to be collected.
  • Renewals & Conversions
    • Renewing My Mortgage
      • When will I receive my mortgage renewal?
        • Renewing your mortgage is an important part of the mortgage lifecycle. To help with this, we will assign one of our expert Renewal Account Managers to your file 90 days before your mortgage will mature. You’ll get an introductory package sent to you with all the necessary details and their contact information, and they will reach out to you to discuss rates and options.
      • What interest rate will be available for my renewal?
        • The interest rates for your renewal will be reviewed with you by your assigned Renewal Account Manager. Once you’ve received your Renewal Account Manager’s contact information, simply contact them to go over the available rates!
      • Can I make additional changes to my mortgage at renewal?
        • Absolutely, at renewal you can change your payment due date and/or payment frequency. Renewal is also a great time to apply for Mortgage Life Insurance and/or Disability Insurance.
      • I may be selling my home soon; does that impact my renewal options?
        • All MCAP mortgages are portable, meaning you can take the mortgage with you to your new property. Portability means that you can take advantage of lower rates today and not worry about needing to payout the mortgage should you sell. Whether you’re at renewal now, or simply thinking of selling please contact one of our experts in our Mortgage Solutions Centre to learn more about your available options.
    • Early Renewals
      • What’s the benefit to early renewing my mortgage? Isn’t there a penalty to break my mortgage early?
        • Early renewing your mortgage is a great way to potentially lower your mortgage interest rate and save money on your mortgage interest paid over time. There is a penalty to break your mortgage early; however, the long-term savings can frequently outweigh any potential cost to breaking the existing term. Contact an expert from our Mortgage Solutions Centre to find out more about your early renewal options.
      • What rates are available to early renew my mortgage?
        • Interest rates for early renewal can vary depending on a variety of factors. To learn about the current rates available, please contact an expert from our Mortgage Solutions Centre.
      • Can I make additional changes to my mortgage if I early renew?
        • Absolutely, when renewing your mortgage into a new term you can change things like your payment due date or payment frequency. Renewal is also a great time to apply for Mortgage Life Insurance and/or Disability Insurance.
    • Locking-in My Variable Rate Mortgage
      • How do I convert or “lock-in” my mortgage?
        • Please contact an expert from our Mortgage Solutions Centre to have a conversion offer prepared and sent to you. Simply sign and return the offer by the effective date, and your mortgage will be converted to a fixed rate.
      • What rate do I get if I convert my convertible or variable rate mortgage?
        • The interest rates to convert or “lock-in” your mortgage can be determined by contacting an expert from our Mortgage Solutions Centre.
      • Are there any costs to lock-in my mortgage?
        • Not at all! You can convert your mortgage to a fixed interest rate at any time free of charge.
  • Special Payment Arrangements
    • My mortgage payment will be returned. What should I do?
      • We understand that circumstances may arise which may cause your regular instalment to be returned to us. Once we have received notification from your financial institution of the returned payment, we will automatically attempt to take the payment 10 days later, along with an insufficient funds fee as outlined in your mortgage agreement. We will communicate the exact date and payment amount to you via a payment return letter. This letter can also be found online by logging to your MyMCAP account. If the date chosen is not convenient, please contact an expert from our Mortgage Solutions Centre. Please note we require a minimum of four business days’ notice to make a change to this attempt.
    • I am unable to bring my account up to date. Is there anything that can be done?
      • The experts in our Mortgage Solutions Centre are here to assist you with your options. They can look at some options that may be beneficial to you, including increasing your amortization period or doing an early renewal to lower your interest rate and payment amount. In the meantime, it is important that you make all future instalments on time. Remember that any further missed payments may cancel any previous special payment arrangement that was made.
    • I need to delay my mortgage payment for a few days. Is this possible?
      • We can temporarily hold your mortgage payment provided that you provide us with a firm date when the payment will be made. We require four business days’ notice to prior to your regular payment date to make a change to it. Please note a fee applies for this service as outlined in your mortgage agreement. If you anticipate this becoming a common occurrence, a permanent payment due date change may be beneficial. Contact an expert from our Mortgage Solutions Centre to initiate either of these options.
    • Can I skip a mortgage payment?
      • This option may be available to you if you are experiencing short-term financial difficulties. You will be required to complete a Skip a Payment application which must then be approved before your request can be granted. Please be advised that you may only skip the equivalent of four monthly instalments during the entire life of your mortgage with us. Please note, a fee applies for every approved skipped payment as per the terms & conditions of your mortgage agreement.