Frequently Asked Questions

Borrower FAQs

  • We work directly with mortgage brokers. If you’re a borrower looking to secure a mortgage, please find one near you by using MPC’s Find a Mortgage Broker Near You tool and ask them to contact us to discuss our financing options.

  • Your broker will know within 24 hours if you are approved, ensuring a swift and efficient application process.

  • We provide flexible payment options for our borrowers. You can choose from interest-only payments, which offer the lowest monthly payment, or amortized payments, which include principal and interest.

  • We offer several different term options, including open terms that allow for penalty-free payouts at any time, giving you the flexibility to manage your finances as you see fit.

  • We would need a new void cheque by email mortgageadmin@neighbourhoodholdings.com or fax 1-888-519-2539. Please note that we cannot accept payments from 3rd parties and the bank account must be owned by either a registered owner of the property or guarantor of the mortgage.

  • All of our mortgage payments are due on the first of every month and we cannot change the payment date.

  • Call or email our office immediately to explain the situation to our mortgage admin department. All late payments are subject to a $150 charge.

  • Your account will be charged $150 and this amount will be added to your mortgage and will accrue interest.

  • If you have accepted an offer on your home please contact us to inform us of the closing date. Please provide our contact information to your solicitor so they may request a pay out statement.

  • It depends on your mortgage term and if you have met all your obligations under the mortgage. Please contact us for specific details on how to pay out your mortgage.

  • It depends on the prepayment privileges of your mortgage. Please see your mortgage documents for details or contact our office. If your mortgage is eligible to be paid down you may only pay down the mortgage via a certified cheque or bank draft. Please contact mortgageadmin@neighbourhoodholdings.com to find out how.

  • Yes. Depending on your mortgage terms you may or may not have a penalty depending on when you choose to sell and pay off our mortgage. In order for your solicitor or notary to receive a discharge our mortgage must be paid out in full.

  • You may be offered to renew this mortgage at maturity for a new term, with or without a change in interest rate payable, by entering into one or more written agreements with us. Typically, if you have met the obligations under the mortgage you will be offered a renewal. $295 Renewal fees.

  • Please feel free to call our mortgage administrator at 604-568-4063, from 9:00 – 5:00pm (PT) or email mortgageadmin@neighbourhoodholdings.com.

Broker FAQs

  • Our maximum LTV is 65%. Need a higher LTV? Contact our sales team at connect@neighbourhoodholdings.com. They can put you in touch with one of our bundle partners who can lend up to 80%.

  • We only fund 1st mortgages at this time.

  • We currently lend in 6 different provinces and each province has their own pricing. Please contact one of our sales team representatives at connect@neighbourhoodholdings.com and they will be happy to share the information with you.

  • We lend in BC, AB, ON, QC and NS, in major urban centres, and non-rural bedroom communities that are within 50km of a city with a population of 100,000 or more. If you would like to confirm exactly where we lend, enter the postal code of the property into our chatbot.

  • We will finance residential homes, detached, semi-detached, condo, townhomes, multi-units up to 3 (4 in QC).

  • We will not finance these types of properties: commercial, semi-commercial, vacant land, construction, big acreage (>5), mobile homes, lease land, self built, ALR land, condo indivise (coop).

  • Start by reaching out to our sales team and submitting a deal to us via Lendesk, Filogix, or Velocity. We have certain eligibility criteria that mortgage brokers and agents must meet in order to qualify. You can reach our sales team by email or phone: connect@neighbourhoodholdings.com or (604) 416-2506.

Investor FAQs ¹˒ ²

  • Neighbourhood Holdings Income Trust I (NHIT) is a mortgage investment entity structured as a pool of mortgages within an income trust. NHIT seeks to provide its investors with stable income while preserving invested capital. This is achieved by investing in a diversified portfolio of primarily variable-rate residential mortgages located in urban and suburban areas across Canada.

  • Mortgage Investment Entities (“MIE”) are mortgage funds that pool together money from investors to lend to people as mortgages. Each mortgage is secured by a real property such as a house, condo, etc., but the MIE investor doesn't own a piece of that real property. Although MIEs can contain commercial mortgages, NHIT is 100% residential. Like many MIEs, NHIT also has access to a credit facility provided by a syndicate of six financial institutions which also is available to fund mortgages within NHIT.

  • Directly through NHCM - If you reside in British Columbia, Alberta, Saskatchewan or Manitoba, our team at NHCM can help with any questions and discuss the investment opportunity with you. You can reach out to our NHCM dealing representatives here. We'll connect you with a local registered dealer if you're elsewhere.

    Through your Financial Advisor - If you already have a financial advisor, consider discussing your interest in NHIT and how alternative investments align with your investment strategy. We can help with that discussion.

  • NHIT is intended for investors who are comfortable taking medium risks associated with their investments. Our NHCM team or your own financial advisor, while conducting a suitability assessment will also take into account other elements such as your investment time horizon, overall risk profile and how NHIT aligns with your overall portfolio.

  • Investors of NHIT have the opportunity to participate as an unitholder in a portfolio of residential mortgages. NHIT is available for registered and non-registered investments. Subscriptions for the purchase of NHIT units must be made in accordance with prospectus exemptions, such as the Accredited Investor exemption. Reliance on other prospectus exemptions are available as well.

  • No, there is no secondary market available for trading NHIT units. Redemptions can be requested monthly, subject to restrictions and with 90 days’ notice. Investments redeemed prior to the 1 year anniversary are subject to a 4% redemption fee.

  • We have never refused a redemption. It is important to note that like all MIEs and other alternative investments, redemptions of NHIT units are subject to various restrictions and conditions. See page 18 of the OM for further details. Our NHCM team is also available to discuss.

  • NHIT is targeting 8 to 10% net yield per annum for Series F units in the current environment. Return differs by NHIT Series. Series A and Series I units returns are reduced by an embedded trailer fee paid to your Dealer. For historical performance, please see NHIT’s Fund Fact Sheet.

  • Fund performance shown on the Fund Fact Sheet is calculated using a time-weighted methodology and assumes that all distributions are reinvested.

  • “Net yield” is the return paid to investors after paying for any costs relating to that income such as the management fees and other operational expenses.

  • Income is distributed to investors each month.

  • Yes! Investors have the option to enroll in NHIT’s Distribution Reinvestment Plan (“DRIP”) to have their income reinvested into additional units of NHIT each month.

  • Personalized performance is provided on Investor statements. Statements are distributed monthly and available through the investor portal.

  • We love transparency; that’s why we release our Monthly Investor Updates to review NHIT’s performance, a review of the portfolio as well as The Chart of the Month that takes a deeper dive into an aspect of the fund we feel investors would appreciate hearing about. If you would like to join our distribution list, please subscribe here.

  • NHIT invests in a diversified portfolio of primarily (99%) residential first mortgages in urban and suburban areas across Canada, specifically in the provinces of BC, AB, ON, QC, and NS. The rates on these mortgages are variable with a floor, meaning that while the borrowers’ interest rates increase with the bank prime rate, they won’t fall below the specified floor even if the bank rate goes down.

  • Talk to our NHCM Team or your financial advisor. Prospective investors should read the Offering Memorandum (“OM”) before investing, including the Risk Factors. Please see NHIT’s OM.

¹ Past performance is not an indication of future returns. Fund performance assumes reinvestment of distributions. Performance is calculated using a time-weighted method. Net returns will differ by Series. This reflects the performance of Neighbourhood Holdings Income Trust 1 ("NHIT") Series F units. Performance of Series A units reflects an additional embedded 1% trailer fee, with performance of Series I units varying by the ten levels of embedded trailer fees. All fees are detailed in the Offering Memorandum. Personalized performance is provided on monthly investor statements.
² NHIT is not suitable for investors who cannot afford to assume medium risks in conjunction with their investment. There is no secondary market for trading these units, and redemptions are subject to restrictions and conditions. All subscriptions for the purchase of units are made pursuant to available prospectus exemptions such as the Accredited Investor exemption. Investors should read the offering memorandum, especially the risk factors relating to the securities offered, before making an investment.