From First Question to First Dividend. Here's How It Works
Investing in a mortgage fund for the first time raises a lot of questions. This page answers the most common ones and walks you through exactly what happens when you decide to move forward with Great Pacific.
We have a conversation
There's no form to fill out and no obligation. You contact us, tell us a bit about what you're looking for, and we listen. We'll ask about your timeline, your goals, and how you're thinking about this investment. If mortgage investing doesn't fit your situation, we'll tell you that too.
We explain both options clearly
Great Pacific offers two MIC funds and a Private Mortgage Placement program. We'll walk you through the differences: what each one invests in, how returns are generated, what the minimums are, and how to access your money when you need it. No jargon, no pressure.
You review the Offering Memorandum
Before investing in either MIC fund, you'll receive the Offering Memorandum: a legal document that sets out exactly how the fund works, what the risks are, and what your rights are as a shareholder. We'll encourage you to read it and come back with questions.
Eligibility is confirmed
Both funds are available to accredited and eligible non-accredited investors under BC and Ontario securities regulations. We confirm your eligibility regardless of which province you're in — the process is straightforward and we'll guide you through it.
Subscription documents are completed
Suggested: Once you're ready, we complete the subscription documents and process your investment. For registered accounts (RRSP, TFSA, etc.), there are a few extra steps to set up a new account or transfer funds from your existing custodian. We'll walk you through that too.
Your investment goes to work
Your capital is deployed as mortgages secured by BC real estate. Dividends are paid quarterly, either directly to you as income or reinvested for compounding growth. You'll receive quarterly statements and regular updates on fund activity.
What You Need to Get Started
To Complete Your Investment
- Government-issued photo ID
- Your SIN for tax reporting
- Banking information for dividend payments
- Account details from your existing custodian (if investing through a registered account)
Minimum Investments
- Accredit Mortgage Ltd.: $25,000
- First Accredit Mortgage Corp.: $25,000
- Private Mortgage Placements: Varies by opportunity — speak with our team
Using Your RRSP, TFSA, or RRIF
Both MIC funds are eligible for registered accounts including RRSP, RRIF, RESP and TFSA. Holding MIC shares inside a registered account can make the income more tax-efficient: interest earned inside a TFSA is tax-free, while RRSP contributions reduce your taxable income in the year you make them.
The transfer process involves your existing account custodian and takes a bit of coordination, but you won’t navigate it alone. We’ve guided many investors through it and will do the same for you.
Common Questions from New Investors
MIC investing is straightforward once you understand how it works, but it raises real questions for most people coming to it for the first time. These are the ones we hear most, answered plainly.
