FMIC invests in first mortgages that Schedule A banks do not service, such as for:
- homes that are being constructed or renovated
- self-employed people or people who have resolved past credit problems
- second homes and rural properties with wells and septic systems
- small commercial properties
Our mortgages are short term (66.3% are repaid within 18 months) and mortgagors can pay out the mortgage any time after 90 days.
All loan applications must satisfy the "four Cs" of credit (character, credit, collateral and capital) to be deemed a good mortgage investment.
We invest in communities we understand –
making them reliable and secure investments.
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FMIC invests in first mortgages
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