First National’s standard financing programs are ideally suited for borrowers who are acquiring a new property or refinancing an existing one and want longer-term financing.
Standard financing terms are typically five years (shorter and longer options are available), feature a fixed interest rate and are usually closed to prepayment for the term’s duration.
Properties with stable cash flow and consistent operating history are favourable candidates for standard financing. For office assets, this can mean properties that are fully or nearly fully leased, have a majority of tenants on long-term leases and display a history of strong tenancy.
For longer loan terms (be it 10 or more years), long-term leases that align with mortgage maturity are considered highly desirable.