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Free What Is a MIC Mortgage and How Does It Work? Abbotsford
- Location: Abbotsford, Abbotsford, British Columbia, Canada
A MIC mortgage is a loan offered by a Mortgage Investment Corporation. Instead of lending their own money like banks, MICs collect funds from many investors and then lend it to people who may not qualify for regular bank mortgages. This way, investors earn interest, and borrowers get access to financing for homes or real estate projects. MIC mortgages are helpful for self-employed people or those with special situations, but they often have higher interest rates than banks.
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