Who can Invest?
Only Accredited Investors can invest into the Foremost Mortgage Trust or a minimum investment of $150,000 is required.
Can I use my self directed RRSP or RRIF for investment?
Yes, investment in the Trust is qualified for RRSP/RRIF and DPSP.
How are distributions paid?
Distributions are paid monthly by direct deposit to investors. Alternatively, distributions can be reinvested into additional units of the Trust.
Is my investment liquid?
Yes, Foremost Mortgage Trust is open-ended. Investors can redeem some or all of their units on 90 days notice and are able to invest in additional units at any time.
Is my investment guaranteed?
No, the fund is secured by mortgages on the real estate. Each mortgage must meet our underwriting due diligence standards.
Are there fees for investing in the Trust?
The costs associated with managing the Trust such as interest expenses, audit and management fees are paid by the Trust. There are no additional fees to the Investor.
Are there fees for investing in Syndicated Mortgages?
We deduct 0.50% from the monthly interest payments as a servicing fee.
Will I be taxed?
Yes, your income will be taxed as interest and you will receive a T3 at the end of the year.
Does Foremost provide reports?
Foremost provides a quarterly report on the performance of the fund and a statement of your holdings.