Private Mortgage Lenders
MIC Mortgage Investment Corporation
Mortgage Investment Corporation or MIC is an investment and lending company designed specifically for First & Second Mortgage lending (primarily residential mortgage lending) in Canada. A MIC is governed by the tax regulations of Section 130.1 of the Income Tax Act of Canada and there for is eligible for RRSPs, RRIFs, DPSPs, or RESPs investing. Owning shares in a Mortgage Investment Corporation (MIC) enables you to invest in a diversified and secured pool of mortgages.
Private Mortgage Lenders
Private Mortgage lenders can be any individuals who have an understanding of mortgages, real estate and sufficient funds to lend. Generally Private Mortgage Lenders are business people or retirees looking to yield a higher rate of return on their savings. These lenders either have unleveraged funds, RRSP’s funds or borrow from a secured LOC from their home and lend out the equity of their assets.
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