First National Financial LP
mixed-use

Mixed-use

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. Borrowers with a first mortgage may be eligible for secondary financing on the same property. Options include standard or short-term financing. Secondary financing is an attractive alternative to refinancing, especially if a borrower wants to avoid the penalties associated with breaking a mortgage mid term. 

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An overview of recent First National financings across geographies and asset classes, including a brief summary of deals and the financing amounts.

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.

Used to pay out the conventional construction financing from First National Financial LP with additional proceeds used towards the purchase and construction of multi-family developments

  • $10.3 Million
  • 40 units
  • Halifax, Nova Scotia
  • CMHC insured first mortgage loan
  • 10 years term, 40 years amortization
  • LTV: 84.2%

Refinance the existing debt registered against the property with a CMHC insured first mortgage

  • $2 Million
  • 6/12 units
  • Iqualit, Nunavut
  • CMHC first mortgage loan
  • 10 years term, 25 years amortization
  • LTV: 75%

Loan used to facilitate the purchase of a mixed-use property

  • $25 million
  • 1,445,000 sq. ft.
  • Mississauga, Ontario
  • First mortgage land financing
  • 36 months term
  • LTV: 64%

A new first mortgage used to payout the existing first and second mortgage registered on the property

  • $1 million
  • 18 units
  • Picton, Ontario
  • Conventional first mortgage loan
  • 3 years term, 25 years amortization
  • LTV: 55%

Refinancing an existing debt on a mixed-use mulit-family building

  • $2 million
  • 17 units
  • Ottawa, Ontario
  • CMHC First Mortgage Loan
  • 5 years term, 35 years amortization
  • LTV: 84%

A new first mortgage used to refinance the existing first mortgage registered against the property

  • $5 million
  • 48 units
  • Hamilton, Ontario
  • CMHC first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 65%

Refinancing an existing construction loan and provide equity withdraw

  • $5 million
  • 5,934 sq. ft.
  • Montreal, Quebec
  • CMHC refinancing first mortgage
  • 5 years term, 35 years amortization
  • LTV: 85%

Withdrawing equity on the property for other real estate investments

  • $8 million
  • 65 units
  • Coquitlam, British Columbia
  • CMHC insured first mortgage
  • 5 years term, 25 years amortization
  • LTV: 58%

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

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View other mixed-use mortgage solutions

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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Development / Construction

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

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