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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Student housing

Students units often generate more cash flow based on the number of tenants per unit. However, owners typically balance cash flow advantages with operational complexity and the capital expenditures required to keep the units up to quality.

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 student housing

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

Refinancing existing debt and providing equity repatriation

  • $3 million
  • 9,950 sq. ft.
  • Toronto, Ontario
  • Convention first mortgage
  • 5 years term, 30 years amortization
  • LTV: 63%

A new CMHC insured first mortgage used to refinance the existing first and second mortgages

  • $28 million
  • 186 units
  • Ottawa, Ontario
  • CMHC first mortgage loan
  • 10 years term, 30 years amortization
  • LTV: 75%

Provide a 5 year term loan for refinancing and recuperating equity invested in CAPEX

  • $4 million
  • 14,939 sq. ft.
  • Montreal, Quebec
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 72%

Refinancing the subject apartment building

  • $16 million
  • 52 units
  • Dollard-des-Ormeaux, Québec
  • CMHC insured first mortgage loan
  • 10 years term, 40 years amortization
  • LTV: 85%

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%

Providing construction financing in developing an apartment building with a non-residential component

  • $19 million
  • 127 units
  • St. Catharines, Ontario
  • CMHC insured construction loan
  • 24 months, interest only amortization
  • LTV: 104%

Providing funds required to refinance the current loan and provide funds for future capital expenditures

  • $4 million
  • 198,093 sq. ft.
  • Windsor, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 48%

Providing CMHC term financing for the purchase of the apartment building

  • $6 million
  • 49 units
  • Montreal, Quebec
  • CMHC first mortgage
  • 10 years term, 35 years amortization
  • LTV: 85%

Latest resources and insights

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

Growth, Value and Risk

Article
This morning, the Bank of Canada left its target overnight benchmark rate unchanged at what it previously described as its “lower bound” of ¼ percent.

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Expert insights

Article
We asked Jeremy to share his views on the state of the market and the outlook for apartment construction activity. Read them here.

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Borrower perspectives

Article
JD Development’s business has focused its business on purpose-built student residences, residential development and town homes. We recently spoke to Jason Qi about their vision for growth and their relationship with First National.

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Capital Markets update

Article
In this week’s commentary, Neil Silverberg, Analyst, Capital Markets, reviews the latest changes in rates as well as an announcement by OSFI, the launch of an NHA MBS from Merrill Lynch Canada and more. Read the 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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