Since 1995, Armada Mortgage Corporation has provided investors with a means to diversify their investment portfolios with Canadian real estate
Armada Mortgage Corporation is registered as a Mortgage Investment Corporation (“MIC”) in British Columbia and is extra-provincially registered Alberta, Ontario, and Manitoba. As a non-bank lender, Armada invests in residential, commercial, construction, and raw land mortgage loans secured by first and second mortgages, and in exceptional cases, by third mortgages. Our MIC has generated a simple average rate of return of 6.76% since 2003 and is audited annually. Our principal regulator is the BC Securities Commission.
Armada Mortgage Corporation Details
- Type: Mortgage Investment Corporation (“MIC”)
- Incorporated: 1995
- Total Mortgages in Portfolio: 163
- Total Aggregate Principal in Portfolio: $29,511,268
- Mortgage Sizes: $25,000 to $750,000
- Geographic Diversification: BC, AB, MN, ON
- Average LTV (Loan-To-Value): 51.48%
- Leverage: LOC of 10-20% of mortgage receivables, TD Canada Trust, secured by the MIC’s assets
- Minimum Investment: $2,500
- Simple Average Rate of Return: 6.76% since 2003
- RRSP, RRIF, TFSA Eligible: Yes
- Memberships: British Columbia MIC Managers Association, Alberta Mortgage Brokers Association, Mortgage Brokers Association of British Columbia, Registered Deposit Brokers Association
- Auditor: Grant Thornton LLP
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