RMG Mortgages, part of MCAP Financial, is a residential-only monoline lender working exclusively through mortgage brokers. They offer a broad range of flexible mortgage products tailored to diverse borrower needs.
Mortgage Products Available
- Fixed-Rate Mortgages – A range of conservative term options.
- Adjustable-Rate Mortgages – Variable-rate options tied to RMG’s prime rate, with the ability to switch rate types or lock-in at any time without penalty.
- RMG Safeguard Mortgage – A second-mortgage solution that lets homeowners tap into equity without touching their current mortgage.
- Bridge Financing – Short-term financing to support home purchases while waiting to sell the existing property .
- Cash Back Mortgage – Financing that includes a cash-back option for upfront spending.
- Borrowed Down Payment Plan – Allows down payment funds to be borrowed under qualifying conditions.
- Purchase Plus Improvements – Bundles renovation costs into the mortgage.
- Payment Assistance & Property Tax Services – Tools to reduce monthly and recurring costs.
- Secure Start & Home Service Plan – Added-support programs for new homeowners.
Ideal Clients and Use Cases
- First-time home buyers looking for guidance and support.
- Self-employed or non-traditional income borrowers needing flexible income proof.
- Equity-rich homeowners seeking cash-out through second mortgages.
- Existing homeowners needing bridge financing to facilitate timely home moves.
- Homeowners funding renovations via bundled financing.
- Borrowers aiming for flexibility—adjustable mortgages and penalty-free switches offer great freedom.
Advantages of RMG Mortgages
- Fully broker-driven, ensuring expert guidance for clients.
- Extensive product range catering to various borrower needs and scenarios.
- Penalty-free conversions between variable and fixed rates.
- Paydown privileges: up to 20% yearly without penalty.
- Homeowner portal (MyRMG) provides easy online account access and transaction management.
Things to Keep in Mind
- Broker access only—no direct applications from consumers.
- Variable-rate risks: adjustable-rate mortgage payments fluctuate with prime.
- Alternative products may have higher interest rates than prime bank loans.
- Eligibility-based programs may require specific credit scores or use-case qualification.
Is RMG Right for You?
RMG is an excellent option for those seeking alternative mortgage solutions with flexibility—such as adjustable rate switching, equity access, bridge financing, or renovation bundling. Their cash-back and safeguard mortgage solutions bring extra value to the right borrower.
However, if your profile fits straightforward prime lending, you may find lower rates elsewhere.
How We Can Help
At The Local Broker, we can help determine if RMG’s unique offerings match your goals—whether you’re a first-time buyer, refinancing, or renovating. We’ll help you compare options with other lenders to find your best fit.
- Start your mortgage or refinance application
- Contact us today to discuss your needs
