KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers
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Our residential call centre is experiencing higher than normal wait times.

If you are a residential customer experiencing financial hardship due to COVID-19 and need to request a mortgage payment assistance, please submit a payment assistance request through My Mortgage.

If you are a commercial borrower experiencing financial hardship due to COVID-19, please email our Payments team at commercial.payments@firstnational.ca.

Be assured that we are committed to getting back to all of you who have contacted us.

Your patience is appreciated, and we thank you for your understanding.

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Property tax

What is it?

For borrowers that choose to pay their own property taxes, we work in collaboration with the tax department to show proof of timely and accurate payment.

Can I pay my own Property Taxes?

Borrowers can pay their own property taxes on an exception basis only. Typically First National requires that borrowers be registered with the municipal Tax Installment Payment Plan (TIPP). For more information, email commercial.tax@firstnational.ca.

Did you receive my tax bill?

For most municipalities, First National receives batch reporting, which lists all properties that require taxes to be paid in that jurisdiction. We typically do not receive individual tax bills. In order to confirm that your property tax has been included in the reporting or to have First National request a copy of your tax bill, email commercial.tax@firstnational.ca.

Did you pay my bill?

First National only pays your tax installments on your behalf if that agreement has been outlined in your Commitment Letter. If you require evidence of taxes paid, email commercial.tax@firstnational.ca.

Can I request funds from my Tax Balance account?

The tax account is re-calculated annually based on your property’s historic tax installment amounts and projected future annual amounts. With these annual re-calculations and the payment of tax installments, the balance in your tax account is as close to $0 as possible. If you would like more information on your tax calculations or did not receive your annual Tax Re-calculation Letter, email commercial.tax@firstnational.ca.

View our other mortgage servicing areas

Financial requirements

On an annual basis, we review financial documents as outlined in the commitment letter to continuously verify the financial health of the property.
Learn more

Undertaking

Post funding, we work with borrowers to meet the specific milestones and obligations outlined in the mortgage contract.
Learn more

Insurance requirements

On an annual basis, we verify that all insurance requirements outlined in the original loan documents are being met to ensure adequate coverage for the property.
Learn more

Payments, pre-payments and banking changes

If alterations to verified payment dates or banking information need to be made, we work to verify and implement those changes, so information remains current and execution proceeds smoothly.
Learn more

Mortgage information

For both annual accounting and general mortgage management, we provide three key statements including the Annual Statement, Mortgage Information Statement and Amortization Schedule.
Learn more
commitment-letter

Your commitment letter

The commitment is a contract between First National and the Borrower. First National uses this commitment as the source for all decision making throughout the duration of the mortgage amortization period. The commitment covers everything from payment type (fixed, floating, amortizing, interest only), pre-payment parameters, insurance requirements, type of annual review documents to be collected, undertaking requirements, etc.

Why is it important?

It is important to note that the commitment is attached to the mortgage (rather than the borrower) for the entire amortization period.

  • If the loan is assumed the current Borrower is replaced by the Purchaser of the property.
  • If the loan is renewed the terms and conditions of the commitment are extended for a new term in accordance with the renewal agreement.
  • If the loan is refinanced the terms of the existing commitment is discharged and new terms are registered with the mortgage.
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