First National Financial LP
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Multi-family residential

A multi-family residential property is a building with five or more residential units. Some examples include an apartment building, townhouse or row house.

The multi-family asset class is the most popular and largest portion of commercial real estate in Canada. Inventory is plentiful, and there is a range of options to suit every type of buyer. Many buyers choose multi-family because of the consistency of revenue and occupancy, making it a less risky type of investment. With multi-family, buyers can start small and grow their portfolios as they hone their operational expertise.

First National offers several solutions to meet the diverse needs of borrowers interested in multi-family assets.

CMHC financing

Typically, CMHC-insured financing offers lower interest rates and longer amortizations, enabling borrowers to manage cash flow more effectively and realize higher returns.

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Standard Financing

Standard financing is usually considered when borrowers are acquiring a new property or refinancing an existing one and want longer-term financing with predictable payments.

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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 financing

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 for multi-family residential property

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

A construction loan helps borrowers manage periodic payments for contract work during the building of a real estate asset.

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CMHC financing

Typically, CMHC-insured financing offers lower interest rates and longer amortizations, enabling borrowers to manage cash flow more effectively and realize higher returns.

Learn more

Smart risk solutions in action for multi-family

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

A new first mortgage used to refinance both the first and the second mortgages registered against the property

  • $25 Million
  • 153 units
  • Quebec City, Quebec
  • CMHC insured first mortgage
  • 10 years term, 25 years amortization
  • LTV: 75%

New CMHC insured first mortgage used to refinance the existing first mortgage

  • $16 Million
  • 69 units
  • Toronto, Ontario
  • CMHC financing first mortgage 
  • 10 years term, 40 years amortization
  • LTV: 69.1%

To refinance the property providing the borrower with additional funds for alternate real estate investments

  • $8.4 Million
  • 72 units
  • Regina, Saskatchewan
  • CMHC insured Pari Passu first mortgage loan
  • 5 years term, 40 years amortization
  • LTV: 71.4%

Loan will be used to payout the existing First National mortgage and the acquisition of additional land

  • $7 Million
  • 58 units
  • Halifax, Nova Scotia
  • CMHC insured first mortgage loan
  • 5 years term, 35 years amortization
  • LTV: 85%

The proceeds of this loan will be used to facilitate the purchase of the property

  • $9 Million
  • 58 units
  • Nanaimo, British Columbia
  • CMHC insured first mortgage loan
  • 10 years term, 40 years amortization
  • LTV: 80.8%

Provide term financing for the newly constructed building once complete and stabilized

  • $8 Million
  • 52 units
  • Fredericton, New Brunswick
  • CMHC insured first mortgage loan
  • 5 years term, 30 years amortization
  • LTV: 75%

A CMHC term loan to pay-out the 6-month interest only Bridge loan First National issued to assist with the acquisition

  • $1 Million
  • 9 units
  • Calgary, Alberta
  • CMHC term first mortgage loan
  • 5 years term, 35 years amortization
  • LTV: 85%

Provide financing for property for CMHC insured first mortgage

  • $6.8 Million
  • 25 units
  • Montreal, Quebec
  • CMHC insured construction loan
  • 5/10 years term, 40 years amortization
  • LTV: 91.8%

Latest resources and insights

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

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