What is a MIC?
A Mortgage Investment Corporation (MIC) is a lending company designed specifically for mortgage lending in Canada. Owning shares in a MIC enables you to invest in a company which manages a diversified and secured pool of mortgages.
Investors
Northside Mortgage Investment Corporation (NMIC) provides a great opportunity for all investors to make above average yields on their investment and will handle the entire investment process for you.
Company Profile
Northside Mortgage Investment Corporation (NMIC) is an alternative lender providing financing solutions secured by real estate in Canada. NMIC specializes in 1st and 2nd residential, construction, and commercial properties.
▷ Recent Fundings
Fully Detached Home, Woodbridge/Nobleton
2nd Mortgage Amount: $175,000
Rate: 12%
LTV: 78%
Purpose: Cross Collateral, Equity Takeout to assist on construction project
Condo, Vaughan
2nd Mortgage Amount: $78,750
Rate: 12%
LTV: 75%
Purpose: Refinance, Debt Consolidation
Residential, Toronto
Loan Amount: $400,000
Mortgage Rank: 2nd Mortgage
Rate: 10.50%
LTV: 71%
Purpose: Equity Take Out
▷ Deal Submission
Required information:
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- Mortgage application
- Credit bureau report
- Appraisal
- Summary of the deal
- Contact information
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