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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mixed-use

Mixed use property

A mixed-use asset segregates the property for multiple uses that can include residential, office, retail, industrial, storage and/or retirement. Examples include a retail strip plaza with second floor offices, a retail storefront with apartments above and an industrial warehouse with office space rented separately.

Standard Financing

Standard financing offers a term of five years or more, a fixed interest rate and is typically closed to prepayment for the term’s duration.

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Short-term (bridge) financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years.

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Repositioning / Renovating

This short-term financing option enables access to a property’s equity for improvements, renovations or repairs, eliminating the need to raise funds from personal sources.

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Secondary financing

Second mortgages are often used to access equity in a property when a borrower wants to purchase another asset or renovate/repair a property.

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Development / Construction

Construction financing is available for condominiums, retail, office, industrial, retirement and purpose-built apartments. 

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Smart risk solutions in action for mixed-use

See how we’ve applied our financing products innovatively to help mixed-use borrowers achieve their goals with performance and value.

Financing the purchase of the retirement residence property

  • $7 million
  • 82 units
  • Belleville, Ontario
  • Conventional First Mortgage Loan
  • 5 years term, 25 years amortization
  • LTV: 70%

Refinance the property and to repay current construction bridge loan

  • $9 million
  • 43,329 Sq. ft.
  • Longueuil, Quebec
  • CMHC Insured Refinancing
  • 10 years term, 40 years amortization
  • LTV: 85%

Providing CMHC financing on a seniors residence with a maturing loan

  • $10 million
  • 89 units
  • Fredericton, New Brunswick
  • CMHC Insured First Mortgage Loan
  • 10 years term, 25 years amortization
  • LTV: 85%

A CMHC insured first mortgage to refinance a twelve story rental apartment building

  • $9 million
  • 112 units
  • Ottawa, Ontario
  • CMHC Financing First Mortgage Loan
  • 5 years term, 25 years amortization
  • LTV: 57%

Conventional first mortgage loan used to assist in the purchase of the industrial property

  • $10 million
  • 65,821 Sq. ft.
  • Waterloo, Ontario
  • Conventional First Mortgage
  • 5 years term, 25 years amortization
  • LTV: 63%

Refinancing property and repaying existing construction bridge loan

  • $17 million
  • 76 units
  • Sainte Julie, Quebec
  • CMHC Insured Refinancing
  • 10 years term, 40 years amortization
  • LTV: 85%

Provide construction financing to the complex

  • $34 million
  • 271 units
  • Calgary, Alberta
  • CMHC insured construction financing
  • 10 years term, 40 years amortization
  • LTV: 65%

A new conventional first mortgage to recapture the amount spent on the purchase of the property and equity take-out

  • $3 million
  • 29,032 sq. ft.
  • Vaughan, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 59%

Latest resources and insights

Original perspectives and personal viewpoints on developments and industry trends in commercial real estate.

Growth, Value and Risk

Article
The Bank of Canada made its first interest rate decision of 2021 and presented its latest base-case projections for inflation and growth in the Canadian economy as part of its quarterly Monetary Policy Report.

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Expert insights

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Here at First National, the year has started very quickly. After recording tremendous growth in 2020, we have set our sights on doing even more this year.

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Borrower perspectives

We spoke to Alain Grandmaison about his view of the industry impacts resulting from COVID-19, whether or not Junic has altered its vision for growth and why First National is a great fit for the new generation of developers.

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Capital Markets update

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This week’s Market Commentary provides an update on rates and curves, CHT Issuance levels and more. Read it here.

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Economic and political developments – both in Canada and globally – can impact the commercial real estate market. First National experts follow these trends closely and provide honest, real and professional perspectives into what they could mean for your portfolio.

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