First National Financial LP

Multi-family residential

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. The goal is usually to increase rents and/or reduce operating expenses to drive up the value of the property and make it eligible for standard financing.

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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 multi-family

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

Loan used to payout existing mortgage registered against the property

  • $1 million
  • 9 units
  • Hamilton, Ontario
  • CMHC refinancing first mortgage
  • 5 years term, 35 years amortization
  • LTV: 85%

Loan used to payout existing mortgages and liberate equity to be used in renovation and expansion of borrower’s portfoli

  • $2 million
  • 15 units
  • Wolfville, Nova Scotia
  • CMHC refinancing first mortgage
  • 10 years term, 25 years amortization
  • LTV: 85%

Conventional mortgage used to facilitate purchase of subject property

  • $42 million
  • 24 units
  • Kitchener, Ontario
  • Conventional purchase
  • 2 months term, interest only
  • LTV: 75%

Construction takeout financing for development of subject property

  • $6 million
  • 151,570 sq. ft.
  • Coaldale, Alberta
  • CMHC insured first mortgage
  • 10 years term, 30 years amortization
  • LTV: 85%

CHMC insured refinancing first mortgage against property

  • $7 million
  • 74 units
  • Boucherville, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 35 years amortization
  • LTV: 65%

Bridge the purchase while waiting for CMHC for permanent term financing

  • $26 million
  • 162 units
  • Toronto, Ontario
  • Conventional purchase
  • 1 year term, interest only
  • LTV: 65%

Provide construction financing for a multi-residential property

  • $10 million
  • 49 units
  • Lower Sackville, Nova Scotia
  • CMHC construction financing

  • 2 years term, interest only

  • LTV: 85%

Providing CMHC insurance to assist in the acquisition of subject property

  • $5 million
  • 16 units
  • Toronto, Ontario
  • CMHC insured purchase
  • 5 years term, 40 years amortization
  • LTV: 85%

Latest resources and insights

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

Growth, Value and Risk

The BoC made its sixth interest rate decision for 2021, read an overview of the announcement here.

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Expert insights

Insights from Adam Powadiuk during the Canadian Apartment Investment Conference on September 22, 2021.

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Borrower perspectives

We spoke to Joe about how he continues to adapt in year two of the pandemic, his vision and key priorities for growth, and how First National supports his ambition and continued growth.

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Capital Markets update

Neil Silverberg, Senior Analyst, Capital Markets, reviews what happened over the last few weeks in the market, how the market reacted and what it means for you. Read the full commentary here.

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View other multi-family mortgage solutions

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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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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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.