First National Financial LP
seniors-housing

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.

Refinance first and second mortgage loan to the property for future investment

  • $12 Million
  • 103 units
  • Baie-D'Urfe, Quebec
  • CMHC insured first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 59.96%

To provide a loan that will repay the current loan on the property

  • $13.7 Million
  • 144,000 sq. ft.
  • Edmonton, Alberta
  • CMHC insured first mortgage loan
  • 10 years term, 30 years amortization
  • LTV: 89.3%

Funds used for capital repairs on the subject property

  • $24.3 Million
  • 163 units
  • Georgetown, Ontario
  • CMHC insured first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 85%

Funds to refinance the existing debt

  • $12 Million
  • 92 units
  • Maple Ridge, British Columbia
  • CMHC insured first mortgage
  • 5 years term, 25 years amortization
  • LTV: 75%

Refinancing existing liabilities to enable further renovation of subject property

  • $7 million
  • 64 units
  • Cote Saint-Luc, Quebec
  • CMHC refinancing first mortgage
  • 3 years term, 35 years amortization
  • LTV: 79%
 

Equity takeout for development of additional property and future capital costs

  • $6 million
  • 194 units
  • Chicoutimi, Quebec
  • CMHC refinancing first mortgage
  • 5 years term, 14 years amortization
  • LTV: 65%
 

Equity takeout to build portfolio and fund existing capital costs

  • $15 million
  • 197 units
  • Laval, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 25 years amortization
  • LTV: 70%
 

Refinance to provide capital for retirement home expansion

  • $7 million
  • 115 units
  • Tecumseh, Ontario
  • CMHC refinancing first mortgage
  • 5 years term, 20 years amortization
  • LTV: 63%
 

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