About Us
Sun Country Mortgage Investment Corporation (MIC) invests in mortgages secured by residential real estate and commercial real estate. Based in Calgary, Alberta, Sun Country MIC raises mortgage funds through an Offering Memorandum. When an investor makes a deposit, Sun Country MIC invests the funds in a diversified portfolio of secured mortgages to homeowners, builders, renovators and developers.
Mortgage Investment Advantages
Sun Country MIC's mortgage investment strategy and expertise offers investors numerous advantages. These include a comparatively high rate of return and relatively low risk, due to the fact real estate is pledged as security.
MIC advantages
A MIC is a company given special designation by Revenue Canada, highlighted in Section 130.1 of the Income Tax Act. A MIC is a corporation established to enable investors to invest in a pool of mortgages. An MIC is structured like a mutual fund (save for the fact funds are invested in mortgages rather than in stocks, bonds or other instruments as many mutual funds are).
So long as Sun Country MIC pays all its net profit to its shareholders, Sun Country MIC (the corporation) is not taxed. This increases the yield paid to Sun Country MIC shareholders. If the same shareholders hold their Sun Country MIC shares within a registered savings plan (such as an RRSP, RRIF or Registered Pension Plan) the shareholder is able to defer taxes until the funds are removed from the plan.
Liquidity & Security
Sun Country MIC establishes payment schedules, terms and rates with each borrower. This means relative stability and consistency as the fixed interest rate and payment schedule provides income. And as the number of fund participants and the property portfolio grows, so does the liquidity and security:
- Residential Mortgages principally secured by single family dwellings, duplex properties, and multi-family housing;
- Commercial Mortgages principally secured by income-producing properties that have retail, commercial, service, office and/or industrial uses, and residential land developments;
- First Mortgage having priority over all other security interests registered against the same real property. Investment does not exceed 75% of the independently appraised value of the underlying real property.
- Second Mortgage on real property secured by other mortgages that do not exceed 87.5% of the independently appraised value of the underlying real property.
Strong Returns & Strong Growth
Since incorporating on December 5, 2001, Sun Country MIC's healthy returns and robust growth has
attracted attention from new investors. To meet this demand, Sun Country MIC has issued an
Offering Memorandum. The Offering Memorandum also allows financial planners to market the
investment.
Mortgage Brokers Welcome
If you are a mortgage broker assisting borrowers secure financing, Sun Country MIC is accepting
financing applications. Sun Country MIC underwriting employs stringent research standards and
careful due diligence. We work hard to protect investors' money while ensuring a profitable
investment. For more information on Sun Country MIC's underwriting process [click here].
