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What is a MIC?
A Mortgage Investment Corporation, or MIC, is an investment and lending company that allows investors to pool funds in a diversified and secured portfolio of residential and commercial mortgage loans. Shares of an MIC are qualified investments under the Canadian Income Tax Act (Section 130.1) for RRSPs, RRIFs, TFSAs, or RESPs. The Income Tax Act requires that 100% of a MIC’s annual net income be distributed to its shareholders.
MIC Advantages
MICs offer investors a number of attractive advantages, including:
As one of British Columbia’s top providers of real estate focused investments and credit products, PHL Capital has forged its success through strong relationships, community engagement and our core values of trust, professionalism and exceptional service. We take great pride in helping our communities grow and prosper, one client at a time.
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Each mortgage secured by tangible Real Estate.
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Cash flow stability.
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Investors own a diversified portfolio of mortgages.
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Typically higher yields than traditional investment products.
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Ability to invest via self-directed RRSP, RRIF, RESP, LIRA, or TFSA.
Risk Mitigation
PHL Capital Corp. (MIC Administrator) has built a proven and established underwriting process upon the following fundamentals:
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Strategic Lending Area
We offer financing in British Columbia, where the respective markets exhibit long-term stability, growth and liquidity.
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Credit Committee
All mortgages are reviewed by an experienced credit committee member.
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Loan-to-Value Ratio
LTV’s range depending on which fund you’re invested in.
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Approved Appraiser List
Every application requires a current appraisal prepared by a qualified and internally approved Appraiser.
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Mortgage Security
All mortgage security prepared and reviewed by qualified legal counsel.
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Stringent underwriting procedures and guidelines
These lending guidelines continue to help PHL successfully navigate the risks associated with real estate investment.
MortEq Lending Corp. (“MortEq”) is a mortgage investment corporation incorporated under the Business Corporations Act (British Columbia) on November 16, 2006. MortEq will seek to generate an internal rate of return to investors of 6.5 to 10% net of fees and expenses, by investing in first, second and third mortgages in the Province of British Columbia & Ontario that do not meet conventional lending requirements. MortEq invests in first, second, and in exceptional cases third mortgages on residential properties such as single-family dwellings, duplexes, townhouses, condominium units, land or multiple family dwellings such as apartment buildings, including properties under construction. MortEq also invests in mortgages on commercial and industrial properties including properties under construction. The Company invests in Mortgages British Columbia & Ontario for a short term period.
Oakhill Lending Corp. (“Oakhill”) is a mortgage investment corporation incorporated under the Business Corporations Act (British Columbia) on March 12, 2021. Oakhill will seek to generate an internal rate of return to investors of 10 to 14% net of fees and expenses, by investing in first, second and third mortgages in the Province of British Columbia & Ontario that do not meet conventional lending requirements. Oakhill invests in first, second, and in exceptional cases third mortgages on residential properties such as single-family dwellings, duplexes, townhouses, condominium units, land or multiple family dwellings such as apartment buildings, including properties under construction. Oakhill also invests in mortgages on commercial and industrial properties including properties under construction. The Company invests in Mortgages primarily in British Columbia & Ontario for a short term period.
Contact Us
PLEASE CALL OR EMAIL IF YOU HAVE ANY ADDITIONAL QUESTIONS OR WOULD LIKE TO INVEST
PHONE604-579-0844
EMAIL[email protected]