Welcome to New Haven Mortgage Income Fund (1) Inc.
New Haven Mortgage Income Fund (1) Inc. (NHMIF (1) Inc.) is a Mortgage Investment Corporation qualified under Section 130.1 of the Canadian Income Tax Act, (also known as The Act). In order to encourage private investment in the Canadian residential mortgage market, the federal government passed legislation in 1973 establishing special companies such as New Haven Mortgage Income Fund (1) Inc.
NHMIF (1) Inc. provides short term mortgage loans in selected locations around Ontario. According to Section 146 (1) and Regulation 4900 (1)(c) of The Act, shares of the company are qualified investments for a:
- Registered Retirement Savings Plan (RRSP)
- Registered Retirement Income Fund (RRIF)
- Life Income Fund (LIF)
- Locked-in Retirement Account (LIRA)
- Individual Pension Plan (IPP)
- Registered Education Savings Plan (RESP)
- Tax Free Savings Account (TFSA)