RMG Mortgages

Monolines
Written By David Pipe
 

Review of RMG Mortgages

RMG Mortgages is a division of MCAP Financial Corp. It focuses on providing residential mortgages and mortgage servicing products through independent brokers. Operating across Canada, RMG Mortgages offers an alternative to the big banks and credit unions.

RMG Mortgages offers competitive and alternative rates. They also have a bank statement program, catering to clients with diverse income sources, and a graduate program that allows clients to transition from alternative mortgages to more traditional mortgage options.

 
RMG Mortgages
 
 

Today’s Lowest Rates from RMG Mortgages

Loading Newest Rates...
 
 
 

Ideal Client

RMG Mortgages is ideal for first-time buyers, business owners, self-employed individuals, and new Canadians seeking flexible mortgage solutions. With a focus on alternative rates and personalized mortgage plans, they provide tailored solutions to meet each client's unique financial situation.

 

Special Features:

 

RMG Mortgages offers some features that cater to different financial situations. Their bank statement program is designed for self-employed individuals who can provide bank statements as proof of income, making it easier for them to secure a mortgage. Additionally, their graduate program allows those transitioning from alternative financing to switch to lower-rate lenders, helping borrowers save money over time. It's important to weigh these benefits along with any potential downsides, so clients can make informed decisions that best suit their needs.

 

Downsides:

No Banking Service

No Physical Branches

 

When considering this lender, it's important to keep a couple of downsides in mind. Firstly, they do not offer traditional banking services, so you won't have access to features like checking or savings accounts. Additionally, there are no physical branches, so all transactions and communications will be online or over the phone. While this can be convenient for some, it may not suit everyone, especially if you prefer face-to-face interactions. Being aware of these factors can help you make a more informed mortgage decision.

 

Best Suited For:

 

First Time Buyers

Business Owners

Self-Employed

New Canadians

 
 
 
 
 
David Pipe

David Pipe helps business owners, investors, and first-time homebuyers build and protect family wealth with creative financing and tax-efficient life insurance solutions. He is an award-winning mortgage agent and life insurance agent in Ontario. David believes education in personal finance and seeking great advice is the best way to reach our financial goals, and he is focused on sharing his knowledge with others. He lives in Guelph, Ontario with his wife Kate Pipe and their triplets (and english bulldog Myrtle).

https://www.wealthtrack.ca/about#about-david-pipe
Previous

Strive Capital
Next

RFA