KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers

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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.

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Your patience is appreciated, and we thank you for your understanding.



Multi-family residential

Short-term (bridge) Financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years. Some borrowers choose bridge financing when they need flexibility to decide about the future of an asset (i.e. contemplating a sale, impending change in ownership structure or operational planning) or time to coordinate a standard financing option. Bridge financing typically includes floating interest rates and usually allows some form of early prepayment. Consistent cash flows and strong operational histories are key considerations for this type of 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.

Refinancing a 19 story apartment building

  • $35 million
  • 150 units
  • New Westminster, British Columbia
  • CMHC first mortgage
  • 5 years term, 40 years amortization
  • LTV: 85%

Mortgage loan used to refinance apartment building

  • $30 million
  • 184 units
  • Toronto, Ontario
  • CMHC Insured First Mortgage
  • 10 years term, 30 years amortization
  • LTV: 69%

A CMHC Insured First Mortgage loan used to purchase an apartment building

  • $3 million
  • 45 units
  • Fredericton, New Brunswick
  • CMHC Insured First Mortgage
  • 10 years term, 24 years amortization
  • LTV: 65%

Refinancing of an existing mortgage loan and equity take-out

  • $4 million
  • 27 units
  • Montreal, Quebec
  • CMHC Insured First Mortgage
  • 5 years term, 35 years amortization
  • LTV: 75%

A new CMHC insured first mortgage to refinance the property and pay down the existing CMHC mortgage

  • $10 million
  • 129 units
  • Ottawa, Ontario
  • CMHC Financing First Mortgage Loan
  • 5 years term, 25 years amortization
  • LTV: 49%

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%

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%

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%

Latest resources and insights

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

Growth, Value and Risk

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

Jeremy Wedgbury was on a panel at the RealCapital Conference yesterday discussing the growth of alternative lenders. Here are his key takeaways.

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Borrower perspectives

In 2018, we spoke to Gord McMehen from Conundrum to get his perspectives on our 30th anniversary. We recently sat down with him to get an update on his business as well as his relationship with First National that is now more than 30 years old.

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Capital Markets update

This week's Market Commentary by Neil Silverberg looks at the changes in yield curves this week. Read about it 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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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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Sign up for Market updates

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.