First Accredit
Mortgage Corp.
Conservative mortgage investing backed by senior first mortgages across Vancouver Island and the Lower Mainland.
You’ve built a life you love. We’re here to help you keep it.
First Accredit Mortgage Corp. was established in 2001 with a single mandate:
Senior first mortgages only.
Every loan in the portfolio holds a first position on the title, backed by BC real estate across Vancouver Island and the Lower Mainland. For investors who want steady quarterly income without taking on junior lending risk, this is the more conservative of the two Great Pacific funds.
When you hold a senior first mortgage position, you stand first in line if a borrower defaults. That is the only position this fund takes, and it has been that way since 2001. No subordinate exposure, no junior positions.
Your loan-to-value exposure caps at 75%, with the current portfolio averaging 51.97%. The target annual dividend yield is 5% to 8%, paid quarterly.*
- The fund holds 100% senior first mortgage positions. No junior or subordinate lending is permitted.
- Shares are priced at $1.00 per Class ‘A’, with a minimum initial investment of $5,000.
- Individual loan-to-value parameters cap at 75%, with a current portfolio average of 51.97%.
- At least 50% of the portfolio is held in residential mortgages or cash at all times.
The People
Behind The Portfolio
The directors of First Accredit have been working in BC real estate lending since 1994. Their mandate is straightforward: protect the fund’s conservative first-mortgage position and act in the best interest of every investor.
What every investor in this fund should know.
Prospectus Notice
Shares of the MIC funds are not offered by prospectus. All investors must qualify for an exemption from the prospectus requirements. Full details are available in the offering memorandum.
RRSP, RRIF, TFSA and Cash Eligible
Your investment in First Accredit can sit inside the registered accounts you already have. The fund accepts RRSP, RRIF, TFSA, and non-registered cash accounts, with Olympia Trust Co. serving as the independent trustee.
Income Paid Every Quarter
Dividends are distributed quarterly, not annually. That means your income arrives four times a year, on a regular schedule, without needing to sell your position to access it.
Audited and Trustee-Held
First Accredit’s financial statements are audited annually and the fund manager does not hold your certificates. Portfolio composition and LTV figures are reported on the fund fact sheet each quarter.
