What We Offer:

 

 

Secure Investments:

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• Registered first mortgages only on British Columbia and Alberta properties

• Diversified portfolio mix to enhance security, such as location, term, rate, and project type

• Lending to a maximum of 75% of the appraised value of the approved project

• Short loan terms to allow quick adjustment of lending parameters, approximately 6 months to 2 years

• Prospective borrowers must pass a rigorous application process

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Superior Returns:

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• ± 5% Yearly Interest Average for the past 5 years.

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Could we provide higher returns? Yes, but higher returns means higher risk, this is not our culture.

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Benefits:

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• Interest paid quarterly

• Eligible for non-registered funds (personal or corporate), RRSP, RRIF and TFSA investments

• No Annual Administration Fees on RRSP/RRIF/TFSA registered plan accounts

• No fees on non-registered accounts

• Choose to be paid by direct deposit or maximize your return by reinvesting your interest

• Interest paid is interest income. First Island provides a T5 at year end for non-registered accounts 

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Note:  For new investors, a $5,000 initial minimum investment is required to open an account

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Redemption Process:

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• ​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.

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Local Ownership:

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• First Island is owned by a number of successful local business people, who invest their own funds along with yours. 

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Lending Committee:

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• Our in-house Mortgage Underwriter thoroughly researches each mortgage application then presents it to our Lending Committee. The committee is made up of no less than 5 members, each having a background in land development, construction, or an associated industry.

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Expertise in Construction:

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• Lending to a maximum of 75% of the appraised project value.

• Construction loan draws are reviewed and inspected by Professionals to ensure actual work-in-place matches loan proceeds advanced.

• Long term relationships with Builders/Developers and Investors; 
  We have earned the trust and respect from builders because of our strict lending guidelines, and the ability to see the builders' vision. Our Investors continue to enjoy above average returns from the success of our select mortgage investments.

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Accountability:

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• ​Audited financial statements are prepared annually

• A+ accredited member of the Better Business Bureau for over 30 years

• Member of the Mortgage Brokers Association

• Member of Real Estate Institute of BC

• Member of Mortgage Investment Association of BC

• Staff are Members of the Chartered Professional Accountants (CPA) Association of Canada & British Columbia

• Staff are Members of the Certified General Accountants (CGA) Association of Canada & British Columbia

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Affiliations:

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• BC Securities Commission

• Better Business Bureau

• Financial Institutions Commission (BCFSA)

• Greater Victoria Chamber of Commerce

• Real Estate Institute of British Columbia

• Urban Development Institute

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Charitable Donations:

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• Big Brothers Big Sisters of Victoria

• BC Children's Hospital Foundation

• BC Schizophrenia Society

• CRD - Panorama Recreation

• Habitat for Humanity Victoria

• Victoria Cool Aid Society

• Victoria Foundation - The Art Kool Legacy Fund

• Victoria Hospitals Foundation

• Saanich Peninsula Lions Food Bank