RESCO Mortgage Investment Corporation Mortgage Lender Profile
Generally for Ontario homeowners with equity who need short-term residential financing and have credit problems, including a past bankruptcy or consumer proposal.
Who they are
RESCO Mortgage Investment Corporation is a mortgage investment corporation based in Richmond Hill, Ontario, incorporated on 21 November 2013 under federal Canadian business corporations legislation. It raises money from accredited and permitted investors, who buy shares with a stated minimum investment of ten thousand dollars and may hold them in registered accounts including RRSPs and TFSAs. Investors receive monthly interest payments or can reinvest through a dividend reinvestment plan. That money is invested in a diversified pool of first and second residential mortgages, and RESCO relies on the mortgage broker channel as its main source of business, so a broker would submit your file.
What they lend on, and who for
RESCO lends on residential property only, in first or second position, across major urban centres in Ontario, including the Greater Toronto Area, Mississauga, Oakville, Burlington, Markham, Richmond Hill, Newmarket, Ajax and Barrie. Terms are short, ranging from one day to twelve months on an open or closed basis, with interest-only payments due monthly. There is no minimum credit score, and RESCO will consider borrowers who have been through a bankruptcy or a consumer proposal, provided there is enough equity in the property. You would be expected to explain what the money is for and how you plan to repay it.
How to approach RESCO Mortgage Investment Corporation
You can contact RESCO Mortgage Investment Corporation yourself; nothing stops you. What you cannot easily find out is what they will actually accept. What loan-to-value they will genuinely go to on your property, what exit they want to see, what the lender fee comes to, and how fast they can fund — none of that is published in full anywhere, and it moves.
A licensed broker who places files with lenders like this every week knows those criteria, and more usefully knows how to structure a file so it lands inside them rather than just outside. On anything that is not a straightforward salaried purchase, that structuring is most of the difference between an approval and a decline. It costs you nothing on a prime mortgage — the lender pays the broker when it funds.
| Lender type | Private · MIC |
| Registered as | RESCO Mortgage Investment Corp. |
| Head office | 360 Highway 7 East, Unit 28, Richmond Hill, ON L4B 3Y7 |
| Website | rescomic.ca |
| Phone | 905-886-8786 (toll-free 1-866-737-2611) |
Get notified 90 days before your renewal
Your lender contacts you at 30 days, when you have no time to shop. We reach you at 90 — early enough to lock a hold and personalize your offers.
Borrower ratings for RESCO Mortgage Investment Corporation
In today’s world, reviews dictate the service industry. Brokers have taken the hit for bad lenders. We bring the consumer experience to light to help borrowers decide.
How quickly did they issue a commitment and get to funding?
Was the rate you got competitive for the product you qualified for?
Could you reach someone, and did they resolve things?
Portal, e-signing, document upload, online account — did it work?
Were the terms, fees and penalties clear before you signed?
Worked with RESCO Mortgage Investment Corporation?
Score them on the five things above. We confirm every review by email before it publishes, and we publish the bad ones too.
Questions about RESCO Mortgage Investment Corporation
Is RESCO Mortgage Investment Corporation a real mortgage lender?
Yes. RESCO Mortgage Investment Corporation is a private (mic) based in Ontario. Its own site is rescomic.ca.
What kind of lender is RESCO Mortgage Investment Corporation?
Private — categorised in our directory as MIC. Equity lenders — the property matters more than the borrower. Short terms, higher rates, lender fees, and speed. Right for a genuinely temporary problem, wrong as a destination.
Should I go to RESCO Mortgage Investment Corporation directly or through a broker?
You can approach them yourself. The reason most people do not is that a lender's real criteria — how income is read, what is accepted as documentation, what will be allowed as an exception — are not published, and they change. A broker who works with RESCO Mortgage Investment Corporation regularly knows them and knows how to present a file to fit them, which on anything other than a simple salaried purchase is usually what decides the answer. On a prime mortgage it costs you nothing either way, because the lender pays the broker when it funds.
Would RESCO Mortgage Investment Corporation approve me?
No profile page can answer that, and any site that tries is guessing. It turns on how your income is earned and how much of it a lender will count, your credit history, the property itself, and how much you need against what it is worth. Those are the questions a licensed broker asks before naming a lender — and they will tell you which ones realistically fit, this one included, and which would price it better.
Where does RESCO Mortgage Investment Corporation lend?
Its head office is in Ontario. Lending areas change and are not always the same as where the lender is based — confirm current coverage with the lender or a broker before planning around it.
Would RESCO Mortgage Investment Corporation take your file?
Send us the details and a licensed broker will tell you which lenders fit — this one included, and the ones that would price it better.
Send us the file