MINT Capital MIC Inc

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What is a MIC

A mortgage investment corporation or MIC is an investment and lending company designed specifically for mortgage lending in Canada. Owning shares in a mortgage investment corporation enables you to invest in a company which manages a diversified and secured pool of mortgages. A Mortgage Investment Corporation (MIC) provides the Borrower(s) and brokers with mortgage solutions that the scheduled banks can’t offer.

MIC’s are organized for investing in pools of mortgages. Profits generated by MICs are distributed to its shareholders according to their proportional interest. The mortgages are secured on real property.

MICs are created by virtue of Section 130.1 of the Income Tax Act, a federal statute, to enable investors to invest in a pool of mortgages with the following features:

  1. A MIC must have at least 20 shareholders.
  2. A MIC is generally widely held. No shareholder may hold more than 25% of the MIC’s total capital.
  3. At least 50% of a MIC’s assets must be residential mortgages, and/or cash and insured deposits at Canada Deposit Insurance Corporation member financial institutions.
  4. A MIC may invest up to 25% of its assets directly in real estate, but may not develop land or engage in construction. This ceiling on real estate holdings does not include real estate acquired as a result of mortgage default.
  5. A MIC is a flow-through investment vehicle, and distributes 100% of its net income to its shareholders.
  6. All MIC investments must be in Canada, but a MIC may accept investment capital from outside of Canada.
  7. A MIC is a tax-exempt corporation.
  8. Dividends may be received in the form of cash, or additional shares.
  9. MIC shares are qualified RRSP and TFSA investments.
  10. A MIC’s annual financial statements must be audited.
  11. A MIC may employ financial leverage by using debt to partially fund assets.
A MIC operates as an intermediary to permit its shareholder to invest, on a collective basis, primarily in residential mortgages in Canada and to receive the same treatment as if the shareholders held the mortgage directly. As a result, a MIC operates much like a trust to permit a flow-through of its income. ​ This is an excellent opportunity for an investor seeking to participate in a diversified and secured mortgage portfolio, an opportunity that is not widely available.

MINT MIC provides diversification through a pool of mortgage investments. The investments are well secured with real estate assets as collateral.

Your funds are invested in loans secured by real estate to a third party borrower. We believe that our lending is marginally more risky than conventional bank mortgages but offers a significantly higher return. Through our strict mortgage underwriting and stringent due diligence processes, risks are minimized to acceptable levels.

Large financial institutions typically prefer long-term loans, and limit lending in certain real estate categories/ persons who doesn’t fit in their ratios and stringent requirements creating an opportunity for lenders like MINT MIC. ​Often borrowers become frustrated with the bank’s process considering it to be time consuming and cumbersome with the added frustration that they are not dealing with a decision maker. MINT MIC offers a lending solution to its potential borrowers. We provide a response to mortgage applications within 24 hours and guarantee that borrowers are dealing directly with the decision maker. Further at MINT MIC, a custom-made solution is provided to the borrower depending on their requirement i.e. mortgages from 3 months term to 12 months term.

MINT Capital MIC lends money to borrowers on a short-term basis only. Borrowers are prepared to pay a higher rate for a short period of time if the money creates an opportunity where the return on the borrowed money is higher than the cost. Typically, borrowers wish to postpone the arrangement of long-term financing so that they are able to improve/ flip their real estate assets, which would in turn reduce their overall long-term cost of borrowing. Further the quick approval process helps the borrower to take advantage of any real estate investment opportunity.

Payments are made quarterly/monthly.

Our Values at Mint Capital MIC

At Mint Capital MIC, our values form the cornerstone of our operations, guiding us in every decision and interaction.

Collaboration and Teamwork

Continuous Improvement

Expertise and Innovation

Tailored Mortgage Solutions

No two real estate financing scenarios are the same, and we understand that. Our range of mortgage products is designed to accommodate various requirements and situations. Whether you’re looking for residential mortgages, commercial property loans, or construction financing, we have the expertise to structure a mortgage solution that aligns with your goals and financial capacity.

When it comes to your real estate financing needs, choose a partner that understands the market, values your time, and is committed to your success. Experience the difference with MINT Capital MIC and discover how our easy, quick, and personalized mortgage solutions can transform your real estate ambitions into reality.

Contact us today to embark on a seamless and rewarding financing journey.

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