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

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. Borrowers with a first mortgage may be eligible for secondary financing on the same property. Options include standard or short-term financing. Secondary financing is an attractive alternative to refinancing, especially if a borrower wants to avoid the penalties associated with breaking a mortgage mid term.

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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 retail

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

Financing the acquisition of the property

  • $5 million
  • 9,237 Sq. ft.
  • Toronto, Ontario
  • Conventional First Mortgage
  • 5 years term, 30 years amortization
  • LTV: 65%

Paying out the existing debt on the maturing loan on the property with a new first mortgage

  • $7 million
  • 32,542 Sq. ft.
  • Milton, Ontario
  • Conventional First Mortgage
  • 1 year term, 25 years amortization
  • LTV: 54%

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%

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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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

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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

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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

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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 retail mortgage solutions

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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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.

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