First Trust Mortgage Income Fund (the Fund), is a diversified, closed-end management investment company. The Fund's primary investment objective is to seek a high level of current income. The Fund's secondary objective seeks to preserve capital. The Fund invests in mortgage-backed securities (MBS) or commercial mortgage loans that offers credit quality, yield and maturity. The Fund may leverage to an aggregate amount of up to 33.33% of the Fund's Managed Assets. The Fund invests in U.S. government securities, mortgage-backed securities, asset-backed securities and other debt securities. The Fund's investment advisor is First Trust Advisors L.P. The Fund's investment sub-advisor is Brookfield Investment Management, Inc. (Brookfield).