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Our Company

ABOUT US

Three Point Capital Corp. is a private Canadian non-bank mortgage lender providing residential mortgage financing solutions to borrowers in marketable urban communities in British Columbia, Alberta and Ontario. Working through the professional mortgage broker channel, we provide mortgage financing for borrowers who have the capacity to repay and significant equity in real estate but do not qualify for institutional financing.  Canada’s limited number of financial institutions and their tightening in policy regarding their own mortgage lending has created an opportunity to service a growing segment of the mortgage market. We aim to generate a strong monthly dividend for our shareholders by providing mortgages to qualified borrowers that cannot be placed with financial institutions but represent an acceptable level of underwriting risk. Our strategy employs a disciplined approach that prioritizes a borrower’s capacity to repay and focuses only on those real estate sectors with acceptable risk profiles.

OUR BUSINESS

Investing in real estate offers security, but owning it can be risky when markets soften. MIC investing offers downside protection relative to an equity investment when real estate values decline. We lend, on average, 55% – 65% of the value of a home, so our portfolio can absorb a drop in the housing market with minimal expectation of loss to the portfolio as a whole.

We provide mortgages to borrowers whose financing needs are not being met by larger financial institutions. The average size of mortgage in our portfolio as of September 30, 2023 is $412,950 with a weighted average interest rate of 10.01% and a portfolio average loan-to-value of 54.5%. The loan-to-value ratio of any mortgage at the time of underwriting may not exceed 75% of the current appraised value.

We consider our mortgage portfolio high quality yet we are able to charge higher rates than the banks because we offer flexibility, short term solutions and we serve a segment of the market that is currently under-served.

A typical loan in our portfolio has an interest rate of 9% to 10% per annum, a loan-to-value ratio of 55% – 65%, a one-year term and monthly amortized mortgage payments.

OUR PORTFOLIO

(At September 30th 2023)