MCAN Welcome Series Playlist > Greatest Hits from July 17

On July 17, we held the MCAN Home Welcome Broker Onboarding Webcast! Here’s a quick guide to everything you need to stay informed and up-to-date, as well as some FAQs that popped up in our Q&A Session. Stay tuned for more on 2025 events coming soon…

Remember, you can always access Broker Resources here.

📺 Webcast Recording

Missed the session, part of it or want to revisit the key points? Access the webcast recording here.

📊 Deal Run

There’s an MCAN deal on your desk! Unsure? Connect with the deal run team to discuss policy, lending areas and property questions ahead of submission. Your approval ratio is about 85% when you use the deal run team AND we’ll add 5 bps to your comp!

Reach out to: DealRun@MCANfinancial.com

Frequently Asked Questions

Does MCAN offer post-deal rebates on appraisal fees?
Answer: MCAN only offers appraisal fee rebates for switches on the A-side(conventional mortgages). There are no rebates for alternative (B-side) deals except during specific promotions.

What type of fee do you charge for bridge financing?
Answer:

• B-side: $500 flat fee + 8% interest rate
• A-side: $300 flat fee + 8% interest rate
  Note: Maximum term is 30 days, and firm purchase/sale agreements are required (no open offers).
• Bridge must not exceed $400,000

Could you use STR (e.g., Airbnb) for subject property as boarder income?
Answer: We do not allow Airbnb income on subject properties. No exceptions. Contact the Deal Run team DealRun@MCANfinancial.com for case-by-case approval.

If the sale/purchase is private (no MLS), can we still get bridge financing?
Answer: Yes, if the lawyer provides a trust ledger confirming the transaction details.

Do you add a premium for HoldCo?
Answer: Yes, 10–20 bps premium applies for HoldCo structures. The HoldCo must only hold the rental property (no other assets/operations).

High-net-worth client with no income (awaiting pension)?
Answer: MCAN has no dedicated product for zero-income scenarios. Exceptions may be considered if the client has:

• Substantial liquid assets (e.g., investments) to cover payments for 2+ years.
• Strong credit (excellent, per the question).
  Workaround: The Deal Run team can assess if asset-backed underwriting is possible.

Non-subject rentals: Offset or addback? What %?
Answer:90% offset for non-subject rental income.

HoldCo under a parent company—can this be done?
Answer: No. The HoldCo must be standalone (no parent company) and only hold the mortgaged property, as we require a personal guarantee.

Do you lend in Cranbrook, BC on the Alt side?
Answer: We do not lend in Cranbrook, BC. No exceptions.

  Retired clients on disability income—accepted?
Answer: Yes, if credit is excellent. MCAN will review:

• Disability income stability.
• Overall financial profile (e.g., assets, age).
  Note: Deal Run pre-vetting is recommended.

Is the SCORE program automatically offered to all Alt mortgages?
Answer: No. The SCORE Program is only available for B-side refinances (not purchases or A-side deals).

When/how to contact Deal Run? Does it count toward funding ratios?
Answer:

• When: Pre-submission for complex deals (e.g., low Beacon scores, high ratios, unique income, unique properties and locations).
• How: Email DealRun@MCANfinancial.com (B-side) or Vim (A-side.
• Bonus: B-side brokers earn +5 bps for using Deal Run. Chances of deal approval are higher.
• Funding Ratios: Deal Run pre-approvals don’t count toward ratios but improve funding efficiency.