Mortgages

MCAN has a disciplined and focused business model centred on the Canadian residential real estate market.  We maintain a diversified mortgage portfolio focused on single family residential and residential construction with opportunistic investments in non-residential construction and commercial loans to balance out the portfolio.

In July 2013, we acquired Xceed Mortgage Corporation which significantly expands MCAN’s lending with respect to Single Family Insured lending.

To find out the current mortgage rates on Xceed mortgages, visit http://www.xceedmortgage.com/current-pricing/

Single Family Insured Lending
Loan Sizeup to $1 million
Collateralfirst mortgage on the property
Term3 and 5 years
Interest Ratefixed only
Loan to Valueup to 95%
Debt Service Ratio (GDS/TDS)as per Mortgage Insurer's guidelines
Minimum Beacon Scoregreater than or equal to 600
Single Family Uninsured Lending
Loan Sizeup to $2.5 million
Collateralfirst mortgage on the property
Term1, 2, and 3 year term
Interest Ratefixed only
Loan to Valueless than or equal to 80%
Debt Service Ratio (GDS/TDS)less than or equal to 44%
Minimum Beacon Scoregreater than or equal to 550
Residential/Non-Residential Construction Lending
Loan Size$1 million – $25 million
Collateralfirst and second mortgages on the property
Term6 – 24 months
Interest Ratefixed/floating
Loan to Valueless than or equal to 75%
Product Typeland development financing
freehold construction
condominium townhouse construction
low-rise condominium apartment construction
Commercial Term Mortgage Lending
Loan Size$2 million – $15 million
Collateralfirst mortgage on the property
Term1 – 10 years
Interest Ratefixed/floating
Loan to Valueless than or equal to 75%
Product Typeretail
industrial
office
multifamily