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Foremost Financial administers a portfolio of mortgages of approximately $85,000,000.
Investors can invest in mortgage loans with Foremost Financial Corporation as a participant in a syndicated mortgage or as a unit holder in Foremost Mortgage Trust.
Foremost Mortgage Trust is an open-ended investment trust. Unit holders of the Trust participate in a portfolio of mortgage investments.
Interest distributions
Interest distributions are made monthly and can be taken as income or reinvested for growth.
RRSP Eligibility
Units of Foremost Mortgage Trust are qualified investments for RRSP, RRIF and DPSP.
Liquidity
Investors can redeem all or part of their units on 90 days notice.
Diversity
Your investment in Foremost Mortgage Trust units will participate in a portfolio of approximately 70 mortgages within our target lending area.
Who Can Invest
You must be an Accredited Investor to invest into the Foremost Mortgage Trust. An Accredited Investor is:
- An individual who either alone or with a spouse, beneficially owns, directly or indirectly, financial assets that have an aggregate realizable value before taxes, but net of related liabilities, exceeds $1,000,000.00, or
- b. Whose net income before taxes exceeds $200,000 or with a spouse exceeds $300,000, or
- c. An investor who is not accredited must make a minimum investment of $150,000.
To participate in a syndicated mortgage a minimum investment of $50,000.00 is required.
Please contact us to receive a copy of the:
Subscription agreement, Declaration of trust, Offering Memorandum
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Rate of Return
The graph shows the net rate of return paid to investors over the past 17 years.
Mortgage process
- Mortgage applications are originated through mortgage brokers, lawyers, builders, developers and former clients.
- Acceptable applications are underwritten and approved by two members of the management team and committed subject to due diligence.
- Due diligence will include all pertinent financial statements or notice of assessments, real estate appraisals, environmental report, credit checks, client application, net worth statements and leases.
- Solicitors are instructed to prepare security documentation. Title is insured by First Canadian Title insurance and Foremost Financial Corporation and our solicitors carry Errors and Omissions Insurance.
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