FIRST ACCREDIT MORTGAGE CORP.
First Accredit was established in 2001 as an investment for the more conservative client to invest in a portfolio secured by first mortgages on properties located mainly on Vancouver Island, and mainland British Columbia.
Mortgage investments in the First Accredit portfolio will represent quality investments with conservative loan to value ratios. The target annual yield for First Accredit is 7% to 10%.
- First Accredit only invests in first mortgages.
- First Accredit Class ‘A’ share price is $1.00 per share, minimum initial investment required is $5,000.
- Loan to value ratio rarely exceeds 75%.
- A minimum of 50% of the investment portfolio of First Accredit is comprised of residential mortgages or cash investments.
Shares of the MIC funds are not offered by prospectus. All investors must qualify for an exemption from the prospectus requirements. This information is available in the offering memorandum.
Upon your request we will forward a synopsis of our current mortgage portfolio as a reference.
See Accredit Mortgage Ltd details.