KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers
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Our residential call centre is experiencing higher than normal wait times.

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.

If you are a commercial borrower experiencing financial hardship due to COVID-19, please email our Payments team at commercial.payments@firstnational.ca.

Be assured that we are committed to getting back to all of you who have contacted us.

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

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Retail property

A retail property is a space where the public comes to purchase a product or a service. Examples include grocery store, department store, bank, restaurant and more. Retail assets can be single units, strip plazas or as large as an enclosed mall. This type of asset typically attracts a more sophisticated buyer as a result of the risk profile and operational complexities.

Standard financing

Standard financing offers a term of five years or more, a fixed interest rate and is typically closed to prepayment for the term’s duration.

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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

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

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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Smart risk solutions in action for retail

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

Refinancing existing debt on the plaza and funding construction to extend the main plaza

  • $2 million
  • 63,537 sq. ft.
  • London, Ontario
  • Conventional first mortgage loan
  • 3 years term, interest only amortization
  • LTV: 72%

Providing financing for the acquisition of a retail plaza

  • $6 million
  • 17,757 sq. ft.
  • Mississauga, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 68%

Refinancing of existing mortgage loans and equity takeout

  • $4 million
  • 14,229 sq. ft.
  • Montreal, Quebec
  • Conventional first mortgage loan,
  • 5 years term, 25 years amortization
  • LTV: 68%

Providing funds for the construction of the retail plaza

  • $3 million
  • 6,400 Sq. ft.
  • Exeter, Ontario
  • First mortgage construction loan
  • 12 months term, interest only amortization
  • LTV: 65%

Refinancing the property with a maturing mortgage

  • $12 million
  • 37,171 Sq. ft.
  • Toronto, Ontario
  • Conventional first mortgage
  • 7 years term, 20 years amortization
  • LTV: 63%

Loan to purchase property for portfolio growth

  • $2 million
  • 8,680 Sq. ft.
  • London, Ontario
  • Conventional first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 70%

Provide funds to refinance current mortgage

  • $5 million
  • 50,816 Sq. ft.
  • Belleville, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 60%

Providing funds to assist the purchase of self-storage property

  • $22 million
  • 112,819 Sq. ft.
  • Victoria, British Columbia
  • Conventional first mortgage
  • 3 years term, interest only amortization
  • LTV: 76%

Latest resources and insights

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

Growth, Value and Risk

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This morning, the Bank of Canada left its target overnight benchmark rate unchanged at what it describes as its “lower bound” of ¼ percent. As a result, the Bank Rate remains at ½ percent.

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Expert insights

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In Building Value, Zach Vanier tells us about himself and what he brings to his client relationships.

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Borrower perspectives

We spoke to Alain Grandmaison about his view of the industry impacts resulting from COVID-19, whether or not Junic has altered its vision for growth and why First National is a great fit for the new generation of developers.

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Capital Markets update

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Neil Silverberg, Analyst, Capital Markets, looks at the latest Canadian employment numbers, the changes that were seen in rates and curves this week and more. Read the full commentary here.

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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.

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