Our current average yield is 8%-8.24% per year. Dividends could be monthly deposited into your bank accounts or accumulated as stock to earn the highest annual yield. All invested funds will be lent out as mortgages which register on borrowers’ land titles.
Jin-Ocean specializes in the first and second mortgages up to 70% of the appraised value: including residential, commercial, construction, or short-term bridge loans which are guaranteed by real properties in Greater Vancouver area.
A mortgage investment corporation or MIC is an investment and lending company designed specifically for mortgage lending in Canada.
Investors of a MIC are its preferred shareholders. This ownership of preferred shares enables investors to invest in a company which manages a diversified and secured pool of mortgages, varying from small first or second mortgages on residential property to commercial and development mortgages on new projects.
Mortgage investment corporations are generally provincially registered and licensed, with the management of the mortgage fund under the direction of provincially licensed mortgage brokers.
MICs are organized for investing in pools of mortgages. Profits generated by MICs are distributed to their shareholders according to their proportional interests.
Jin-ocean Mortgage Investment Corporation was founded under the laws of the British Columbia in June 2015. In general, Canadian MICs are regulated by three separate and distinct federal or provincial governmental regulatory bodies: Canada Revenue Agency, B.C. Financial Institutions Commission, and B.C. Securities Commission. Jin-Ocean specializes in the first and second mortgages up to 70% of the appraised value: including residential, commercial, construction, or short-term bridge loans which are guaranteed by real properties in Greater Vancouver area. Normally, the cost of the first mortgage will start from 9% annual interest rate +1.5% lender’s fee, while the second mortgage will start from 10% annual interest rate + 2% lender’s fee. For qualification, borrowers are required to provide credit bureau reports, financial statements, two years’ notice of assessments and/or current 3-months bank statements and so on. The LTV (loan to value) rates are generally controlled around 70%. To protect both investors’ and borrowers’ interest, we strictly review and underwrite every mortgage application in accordance with B. C. FICOM regulations. Jin-Ocean MIC’s purpose is to provide financial short-term help to mortgagors and at the same to provide stable dividends to investors.