Standard financing for mixed-use properties

First National’s standard financing programs are ideal for borrowers when they acquire a new property or refinance an existing property and do not qualify for insured programs.

Conventional financing is an excellent option for borrowers who want different loan terms and are unable to meet CMHC insurance requirements because their property has a commercial component (retail or office) that is greater than 25 percent of the total gross floor space and revenue from that component of greater than 25 percent.

Conventional financing loan terms typically range between three and five years; however, longer loan terms are available.

Properties with stable cash flow and consistent operating histories are favourable candidates for standard financing.

First National also provides full support and expertise to borrowers seeking CMHC term and construction loans.

Speak to one of our empowered advisors to assess options and determine the best course of action for finding and securing a smart-risk mortgage, insured or conventional.

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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.

The purpose of the loan is to pay out an existing first mortgage and provide equity take out for capital improvements

$12.1Million
29 units
Sooke, BC

CMHC insured mortgage
5 year term, 40 years thereafter
LTV: 84.8%

Refinance of a 6-plex to recoup construction costs.

$1.3 Million
6 units
Edmonton, Alberta

CMHC insured first mortgage
10 year term, 50 years thereafter
LTV: 95%

The loan purpose is to refinance an existing construction mortgage.

$12.4 Million
24 units
Campbell River, British Columbia

CMHC insured MLI Select - 100 Points (Energy Efficiency) first mortgage loan
10 year term, 50 years amortization
LTV: 68.47%

To refinance an existing mortgage and provide equity take out for capital improvements.

$ 5 Million
14 units
Montreal, Quebec

CMHC insured first mortgage loan
5 year term,
50 years amortization
LTV: 80.65%
DSC: 1.37x

Provide financing for the property to complete the construction.

$27.2 Million
95 units
Montreal, Quebec

Insured 1st mortgage
24 months term for construction, 5/10 thereafter, Interest only amortization during construction, 40 years thereafter
LTV: 93.79%"

Refinance with MLI Select

$5.2 Million
25 units
Montreal, Quebec

CMHC Insured
5 years term, 40 years amortization
LTV: 92.54%

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%

View all recent financings

Latest resources and insights

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

Growth, Value and Risk

Bank of Canada holds fast on interest rate policy at April 2025 meeting

Despite significant geopolitical tensions, the Bank of Canada announced today that it is keeping its benchmark interest rate at 2.75%, unchanged from March 2025.

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Expert insights

Jeremy Wedgbury’s first quarter report: growth but with challenges

We recently reported First National’s first quarter results.

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Project spotlight

First National worked with Hazelview Investments to secure one of the largest CMHC-insured loans, helping bring a new approach to apartment living in Toronto to life

Hazelview Investments has secured one of the largest CMHC-insured loans ever issued under the MLI Select program. Financing for this construction loan was provided by First National Financial LP.

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Capital Markets update

On the Radar: Will Canada Keep Its AAA Rating and Hold Down Mortgage Rates?

On Friday, May 16th, Moody’s cut the U.S. sovereign rating to Aa1, ending a century-long run at the top tier. Two weeks earlier, S&P reaffirmed Canada’s AAA rating.

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View other mixed-use mortgage solutions

CMHC Financing

First National’s insured financing programs are ideal for borrowers when they acquire a new mixed-used property or refinance.

Bridge financing

First National’s bridge loan terms typically range from three months to three years, include floating interest rates and allow some form of early prepayment. Borrowers choose this solution until standard financing is secured or while they contemplate a property sale, a change in ownership structure or enhance their tenant roster.

Asset repositioning

First National enables owners to access a property’s equity for a short term, typically two years or less, to fund capital improvements or repairs without the need to raise capital from personal sources or less flexible, higher-cost alternatives.

Secondary financing

A First National second mortgage enables borrowers to access property equity and use it to purchase another asset or renovate/repair an existing property.

Construction financing

A First National’s construction loan provides funds to cover the cost of building or rehabilitating a property with terms typically of three years or less.