INVESTORS

A Mortgage Investment Corporation (MIC) is a corporation specifically designed to invest in mortgages. Shareholders buy Preferred Shares at $1.00 each and receive a proportional interest in the fund's portfolio and the income it generates. A MIC holds only mortgages and cash and operates with specific investment criteria outlined in an Offering Memorandum filed with the BC Securities Commission. All loans are secured by mortgages on Canadian real estate and pass a vigorous underwriting process by a credit committee.

Initial Investment:
•  $10,000.00 minimum typically

Secure Investments:
•  Registered first financial charge on British Columbia and Alberta Properties
•  Diversified portfolio mix to enhance security
•  Will only lend to a maximum of 75% of the appraised value of the approved project
•  Short loan terms (eight to eighteen months) to allow quick adjustment of lending parameters
•  Prospective borrowers must pass a rigorous application process

Superior Returns:
•  8.23% Yearly Interest Average Since 2001

Steady Savings:
•  Dividends paid quarterly
•  Eligible for non registered funds, RRSP and RRIF investments
•  Free RRSP/RRIF registered plan account
•  No hidden fees
•  Choose to be paid by cheque, direct deposit or maximize your return by reinvesting your dividend
•  Dividends qualify as interest income, First Island will produce a T5 at year end

Redemption Process:
•  18 months from the date of deposit, Investors may request their principal upon 90 days' written notice subject to available funds from repayments or new investments.

Regulatory
•  Our audited financial statements are filed annually with the BC Securities Commission
•  Member of the Better Business Bureau
•  Member of the Mortgage Brokers Association
•  Members of Real Estate Institute of B C, Members of UDI
•  Members of Mortgage Investment Association of BC

Informational Handouts (in PDF):
 


Why Invest With First Island?


Risk equals Return
 


 




For more information contact Tracey Pitts, Manager, Investor Relations at tpitts@firstisland.com

AT FIRST ISLAND, WE'RE ABOUT SECURITY, NOT JUST HIGHER RETURNS.