A Mortgage Investment Corporation (MIC) is a corporation specifically designed to invest in real estate financing. Investors purchase Preferred Shares in the MIC and receive a proportional interest in the fund's portfolio and the income it generates. Our MIC holds only first place real estate loans and operates with specific investment criteria outlined in an Offering Memorandum filed with the BC Securities Commission annually. All loans are secured by First mortgages on BC or Alberta real estate for development and pass a vigorous underwriting process by a lending committee.

Initial Investment: $15,000 minimum

Secure Investments:

  • Registered first mortgage charge on British Columbia and Alberta properties
  • Diversified portfolio mix to enhance security (location, term, rate, project)
  • Will only lend to a maximum of 75% of the appraised value of the approved project
  • Short loan terms (twelve to twenty-four months) to allow quick adjustment of lending parameters
  • Prospective borrowers must pass a rigorous application process


Superior Returns:

  • 5.10% Yearly Interest Average for the past 5 years.


Steady Savings:

  • Dividends paid quarterly
  • Eligible for Non-Registered funds, RRSP, RRIF and TFSA investments
  • No Annual Administration Fees on RRSP/RRIF/TSFA registered plan accounts
  • No hidden fees
  • Choose to be paid by cheque, direct deposit, or maximize your return by reinvesting your dividend
  • Dividends qualify as interest income. First Island provides a T5 at year end for Non-Registered accounts 


Redemption Process: 

  • 18 months from the date of deposit, Investors may request their principal upon 90 days' written notice, subject to available funds from repayments or new investments.



  • Audited financial statements are prepared annually
  • Member of the Better Business Bureau
  • Member of the Mortgage Brokers Association
  • Member of Real Estate Institute of BC
  • Member of Urban Development Institute 
  • Member of Mortgage Investment Association of BC
  • Staff are Members of the Chartered Professional Accountants (CPA) Association of Canada & British Columbia
  • Staff are Members of the Certified General Accountants (CGA) Association of Canada & British Columbia

Honestly, peace of mind comes with First Island through consistent, timely and informative reporting. We know our money is secure under First Island's experienced Management. No hidden fees and a solid return, that's why we invest with First Island.

- Jos and Marcella

Get in Touch

First Island Financial Services Ltd.
Suite 101, 727 Fisgard Street,
Victoria, BC V8W 1R8

P: (250) 388-5441
F: (250) 361-9160
TF: 1-800-699-6336

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