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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Seniors housing

A seniors housing is a multi-residence property designed specifically for senior citizens. While there is a housing element to the property, there are also other amenities including kitchen/dining room, recreational spaces and health/hospice care. Examples of this type of asset include retirement homes, nursing homes and long-term care facilities.

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

Construction financing is available for condominiums, retail, office, industrial, retirement and purpose-built apartments. 

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Smart risk solutions in action for seniors

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

Providing CMHC financing on a seniors residence with a maturing loan

  • $10 million
  • 89 units
  • Fredericton, New Brunswick
  • CMHC Insured First Mortgage Loan
  • 10 years term, 25 years amortization
  • LTV: 85%

Obtaining a new CMHC insured first mortgage to pay out existing loans and for future capex

  • $41 million
  • 148 units
  • Newmarket, Ontario
  • CMHC insured first mortgage
  • 10 years term, 30 years amortization
  • LTV: 90%

Providing CMHC first mortgage used to pay out an existing construction debt

  • $41 million
  • 332 units
  • Quebec City, Quebec
  • CMHC first mortgage
  • 10 years term, 35 years amortization
  • LTV: 84%

Obtaining a new CMHC insured first mortgage to be used for future capex and acquisitions

  • $29 million
  • 131 units
  • Oakville, Ontario
  • CMHC insured first mortgage
  • 10 years term, 25 years amortization
  • LTV: 78%

Providing funds to pay out the existing construction financing loan

  • $15 million
  • 89 units
  • Picton, Ontario
  • Conventional first mortgage loan
  • 18 months term, interest only amortization
  • LTV: 61%

Providing funds to finish renovations to the property

  • $9 million
  • 105 units
  • Toronto, Ontario
• Conventional first mortgage
• 10 years term, 25 years amortization
• LTV: 70%

To refinance existing second mortgage construction loan and for future developments

  • $27 million
  • 332 units
  • Quebec City, Quebec
  • Conventional second mortgage
  • 12 months, 25 years
  • LTV: 63%

Topping up second mortgage to provide capital for future capex

  • $2 million
  • 23,504 Sq. ft.
  • Edmonton, Alberta
  • CMHC insured first mortgage loan
  • 20 months term, 16 years amortization
  • LTV: 66%

Latest resources and insights

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

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This week’s Market Commentary provides an update on rates and curves, CHT Issuance levels and more. Read it 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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