Armada Mortgage Corporation
Managed by Armada Mortgage Corporation Management
Data as of: March 31, 2026 · View latest fund facts
This review is compiled by WOWA for informational purposes only and is not investment advice, an offer, or a solicitation. Figures are drawn from the manager's published materials as of the dates shown and may change. Returns are historical and do not guarantee future results. Verify all details with the manager or a licensed advisor before investing.
AUM
$69M CAD
2025 return
8.6%
LTV
45.1%
Management fee
1.5%
About Armada Mortgage Corporation
Founded in 1995 and based in Langley, British Columbia, Armada Mortgage Corporation is an alternative lending firm operating as a Mortgage Investment Corporation (MIC). The fund focuses on providing short-term residential, construction, and serviced land financing solutions across British Columbia, Alberta, and Ontario. It primarily issues first and second mortgages to borrowers who require transitional funding or do not qualify for traditional bank financing, maintaining conservative loan-to-value (LTV) limits (averaging around 45%). As a MIC, Armada aims to provide investors with capital preservation and consistent, stable monthly dividends, with its shares distributed through its affiliated exempt market dealer, Armada Wealth Management.
The fund reports approximately $69M CAD in assets.
Most of the portfolio is in first mortgages, with some subordinate exposure.
The latest annual return declined from 9.4% in 2024 to 8.6% in 2025.
The portfolio is concentrated in Residential mortgages.
The portfolio is diversified across BC, Ontario and Alberta.
At a glance
| Assets under management (AUM) | $69M CAD |
| 2025 return | 8.6% |
| Overall LTV | 45.1% |
| First mortgages (as a % of the portfolio) | 70% |
| Property focus | Residential (98%) / Construction (2%) |
| Structure | Private Corporation (MIC) |
| Investor access | Available to individual investors |
Armada Mortgage Corporation portfolio and performance
The portfolio is composed of residential mortgages (98%) and construction mortgages (2%).
| Property Type | Share (%) |
| Residential | 98% |
| Construction | 2% |
Armada Mortgage Corporation has a focus on BC, with 67% of its mortgages located in BC, followed by Ontario (22%), Alberta (11%).
| Province/Region | Share (%) |
| Ontario | 22% |
| BC | 67% |
| Alberta | 11% |
Armada Mortgage Corporation returns
| Calendar year | Net return |
| 2023 | 8.8% |
| 2024 | 9.4% |
| 2025 | 8.6% |
Armada Mortgage Corporation facts
Fund structure
| Structure | Private Corporation (MIC) |
| Manager | Armada Mortgage Corporation Management |
| Series | A |
| Latest data | March 31, 2026 |
Mortgage portfolio
| First mortgages | 70% |
| Overall LTV | 45.1% |
| Property focus | Residential |
Fees
| Management fee | 1.5% |
| Performance fee | No |
Who can invest in Armada Mortgage Corporation?
Available to individual investors
This fund is available to individual investors.
The minimum investment amount for accredited investors is $5,000.
The minimum investment amount through an advisor or dealer is $5,000.
About Armada Mortgage Corporation Management
Armada Mortgage Corporation operates as an internally managed fund, overseen directly by its founding executive team rather than a third-party investment manager. Founded and led by President and Director Gordon Hone since 1995, the internal management team handles all mortgage origination, underwriting, and administration directly from their headquarters in Maple Ridge, British Columbia. To facilitate regulatory compliance and capital raising, the executives also operate a related-party Exempt Market Dealer (EMD) known as Armada Wealth Management. This affiliated dealer acts as the exclusive selling agent for the MIC, allowing the internal team to manage both the real estate lending portfolio and investor relations under one unified corporate umbrella.
Frequently asked questions
It invests in residential mortgages.
The fund reports a weighted-average LTV of 45.1%.
Yes. It is available to individual investors.
The fund is managed by Armada Mortgage Corporation Management.
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