Lower rates. Better terms.

Interest Rate Comparison

  Banks Morcap
5 Yr. Variable 3.05% 3.00%
6 Month 4.75% 4.75%
1 Year 3.90% 2.90%
2 Year 4.05% 3.05%
3 Year 4.15% 3.15%
4 Year 4.84% 3.79%
5 Year 5.25% 3.89%
 
Effective May 1st, 2009

 

Six reasons to use a mortgage broker

  1. You have more to choose from. The “Big Five” banks control about 60% of the mortgage market. So what about the other 40%? Morcap has relationships with alternative lenders, private corporations and credit unions that most people are not able to access on their own. We have alliances with wholesale lenders who work only through brokers and have unique loan products. And we have access to everything the big banks have to offer. Why limit your options? A Morcap mortgage broker gives you access to a bigger playing field.

  1. Brokers have more flexibility than banks. Most financial institutions have pretty strict guidelines about what they can offer you in terms of a mortgage. You qualify or you don’t – there is not much leeway there. But a Morcap mortgage broker has the flexibility to assess all the mortgage products that are available from all the companies – and pick the one that meets your needs the best. Plus, mortgage brokers do not have to be loyal to specific vendors – we always have the freedom to look around.

  1. Rates as good or better than banks. Banks have to pay salaries, overhead, advertising, etc. Morcap brokers do not have those costs, so they are never passed on to our clients.

  1. With banks, you have to apply to each one separately. But when you apply for a mortgage with a Morcap broker, there is only one application. And you get access to nationwide network of lenders with a huge variety of options to choose from.

  1. Morcap mortgage brokers know their stuff. To be a loan officer at a bank, you don’t actually have to be licensed or take any courses. Mortgage brokers, on the other hand, have extensive training, and have passed a certification exam. Plus, we have to take continuing education courses to stay on top of changes in the law, new programs and new approaches. Who would you rather work with?

  1. Mortgage brokers don’t work bankers’ hours. Morcap specialists are motivated to serve our clients, and we will meet with you at work or at home, at whatever time works best for you.

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Your loan information:

Mortgage Amount:
 Loan Purpose:
Purchase Price:
 Term:
 Amortization:
Down Payment/Equity:
 Source of down payment:
Closing Date:
    

About you:

Title & First Name: 
 Surname:
 Date Of Birth:
Employer's name:
 Job Status:
 Occupation:
Total Yearly Income:
 Job Length:
 Co-Applicant:
SIN (optional):
 Dependants:
 Total Consumer Debt

Your Address & Contact Details:

House No. & Street:
 Apt#        Postal Code:
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 Secondary Phone:
 Time at  Address
Province
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 Own or Rent?
 Rental Payments

About your Co-Applicant:

Title & First Name: 
 Surname:
 Date Of Birth:
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 Occupation:
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 Job Length:
 SIN (optional):
Dependants:
 Total Consumer Debt
  

About your current Mortgage:

Property Value:
 Purchase Price:
 Mortgage Balance:
Mortgage Payments:
 Mortgage Rate Type:
 Mortgage Company:
Current Mortgage Rate
 Maturity Date
 Schedule

Assets

Banking Institution
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 Cash /Savings In Bank
Stocks/Bonds
 Other Real Estate:
 Auto Value:
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Liabilities

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Property Description

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 Solicitors Name:
 Solicitors Phone:
Solicitors Address: