MCAN Welcome Series Playlist > Greatest Hits – January 2026

On January 14, 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 2026 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.

📊Frequently Asked Questions

Do you offer variable on the B‑side?

No.
MCAN does not offer variable rate products on the alternative/B‑side. Only 1‑, 2‑, and 3‑year fixed terms are available.

How long is the rate hold on both Alt and Prime?

• Purchases: 120 days
• Refinances: 60 days

Applies to both Alternative and Prime/Precision.

Minimum square footage on condos?

MCAN reviews condos case‑by‑case, but as guidance:

• ~450 sq ft is generally acceptable
• Sub 450 condos in major cities can be reviewed case by case at a reduced LTV.
• Properties near student areas with high rental concentration are also typically declined

We encourage brokers to send the address + LTV to their BDM for vetting before submitting.

Can you use two family members for contributory income at $1,400 each or mix contributory + boarder?

No. We only allow one member for Contributory Income. If we have to slot other family members under boarder income, that is an exception (generally granted).

60/60 ratios — only for owner‑occupied, or rentals too?

Owner‑occupied only.
For rentals, MCAN caps ratios at 50/50 maximum, with 48/48 being their comfort zone.

Foster care income — is it used at 100%?

MCAN does use foster care income, but we’ll need the following:

• Maximum allowable number of children under care is restricted to 6, including borrower’s own children (e.g., if the parents have two children of their own, only the income from 4 foster care children can be used in the debt service calculation).
• Income can not be grossed up.
• Must have a 2-year track record of foster care experience.
• If foster care income represents more than 50% of the total Employment Income used for debt servicing calculations, the maximum applicable LTV must be reduced by 5%.
• Owner occupied properties only (1 and 2 Unit).
• Residential zoning only.
• Letter from agency to outline:
  • Terms of contract.
  • Number of children under care; and
  • Earnings for the past two years.

If this income is variable but rising, use a two-year average. If it is variable but declining, use the most recent year.

B‑side: Is gifted down payment allowed for investment properties?

Yes.
MCAN does allow gifted down payment for investment properties on the B‑side.

Do you pay compensation on client renewals?

No. MCAN does not pay trailer/renewal compensation.

Insured mortgages: client had a 30‑day credit card late in the last 12 months—can the deal still work?

Possibly, depending on context.
MCAN notes:

• Insurers require strong credit: 680+ for primary borrower
• A small oversight (e.g., $15 forgotten balance) can be explained
• But if the late payment lowered the score or appears risky, it may be difficult
• Story/context is key

When switching an ARM to fixed, is there a required term?

No fixed term specified — depends on remaining term.
Servicing team handles the specifics.

Is there a graduation program from Alt → Precision at maturity?

Not automatic, but possible.
MCAN will:

• Review at renewal
• Move clients to A‑side if they now qualify
• Broker must resubmit the deal
• Broker is paid again if the file moves from Alt to A

B‑side or A‑side: Minimum time after bankruptcy or consumer proposal? Re‑established credit required?

B‑side (Alternative):

• It depends on whether it’s a BK or a CP and when it was filed
• Re‑established credit is required
• Open CP must be paid out on purchase

A‑side (Insured/Insurable):

• 2 years being discharged from bankruptcy
• 2 years of reestablished credit since bankruptcy

MCAN’s Elevate/Conventional A:

• No previous bankruptcies or CPs allowed

Precision: What if credit score is just under 680 due to high utilization but perfect repayment?

Not an automatic decline — case by case.
MCAN will consider:

• If high utilization is the only issue
• Whether all credit lines are maxed out, which is a red flag
  They recommend coaching clients to get utilization below 70% to improve score.

ODSP on B‑side — is ODSP allowed on A‑side?

Yes.
Transcript confirms MCAN is now accepting ODSP on the A‑side as well.

Score Program

Client support for Credit Optimization, Rehabilitation and Education. Program details here.

Note: Conditions apply and are subject to change. Please contact your BDM for details.