CMHC financing for student housing properties

First National is a deeply experienced CMHC-approved lender for the student housing industry. That means we are experts in all relevant CMHC programs and incentives and securing insured financing that offers borrowers significant financial and strategic benefits.

Mortgage loan insurance allows borrowers to purchase or refinance student housing properties with various loan terms, higher loan-to-value ratios, and longer amortizations. Ultimately, these advantages enable borrowers to maximize their loan proceeds, manage cash flow more effectively and realize higher investment returns.

This makes our insured programs the most popular choice for property owners.

We also provide full support and expertise to borrowers seeking CMHC construction loans.

Speak to one of our empowered advisors to assess options and determine the best course of action for finding and securing a smart-risk mortgage, insured or conventional.

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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.

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.

CMHC MLI Select refinance with 50 basis points for energy efficiency, repaying the First National bridge loan and generating working capital through equity take-out

$25.6 Million
836 units
North Vancouver, BC

CMHC insured mortgage
5 year term, 40 years amortization
LTV: 70%

CMHC MLI Select internal refinance of renovated assets to reinvest capital into ongoing property enhancements

$23.8 Million
143 units
Montreal, QC

CMHC insured mortgage
5 year term, 40 years amortization
LTV: 85%

Portfolio optimization through a CMHC Standard Market refinance, unlocking capital for targeted property improvements

$23 Million
175 units
Halifax, NS

CMHC insured mortgage
10 year term, 40 years amortization
LTV: 58%

Strategic CMHC Standard Market refinance of a fully renovated multi-family asset to fuel future acquisitions

$12.1 Million
58 units
Montreal, QC

CMHC insured mortgage
10 year term, 40 years amortization
LTV: 64%

CMHC insured financing for an acquisition of a newly constructed 90 townhouse project

$25.3 Million
90 units
Edmonton, AB

CMHC insured mortgage
10 year term, 40 year amortization
LTV: 85%

Refinance of unencumbered property containing 308 units, to be used for capital repairs

$40 Million
320 units
Toronto, ON

CMHC insured mortgage
10 year term, 25 years amortization
LTV: 49%

Senior Retirement residence with 109 units - CMHC insured mortgage to convert construction facility to term loan

$32.5 Million
109 units
Georgetown, ON

CMHC insured mortgage
10 years term, 40 years amortization
LTV: 79.5%

Completion take out of 4 storey podium level of 25 storey tower

$28.7 Million
77 units
Coquitlam, BC

CMHC insured mortgage
5 years term, 45 years amortization
LTV: 83.73%

View all recent financings

Latest resources and insights

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

Economic insights

On the Radar: A Peace Deal Sent Oil Prices Tumbling but the Fed Still Signaled Higher Rates. What Does It Mean for Canadian Mortgage Rates?

Two of the biggest forces acting on Canadian mortgage rates moved in opposite directions this week. Over the weekend, the United States and Iran announced an initial deal to end the war and reopen the Strait of Hormuz, sending oil prices tumbling.

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Expert perspectives

Urban intensification fuels Québec City’s next wave of real estate development

Founded in 1608, Québec City is one of the oldest cities in North America and the second-largest city in the province after Montréal, with a metropolitan population of roughly 850,000.

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Project spotlight

The Highlands: A Community-Driven Residential Pivot in St. Thomas, Ontario

Two local developers, Jeff House and Lee Greenwood, are leading the way in mixed-use development in St. Thomas, Ontario.

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Capital Markets update

The Bank of Canada maintains its interest rate policy to close out April

Despite rising oil prices and global trade friction, the Bank of Canada chose to once again keep its overnight policy interest rate at 2.25%.

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View other student housing mortgage solutions

Standard financing

First National’s standard financing programs are favoured by borrowers who look to acquire a new property or refinance an existing building. Loan terms typically range from three to five years, have a fixed interest rate, and are closed to prepayment for the term’s duration.

Bridge financing

First National’s bridge loan terms typically range from three months to three years, include floating interest rates and allow some form of early prepayment. Borrowers choose this solution until standard financing is secured or while they contemplate a property sale, a change in ownership structure or enhance their tenant roster.

Asset repositioning

First National enables owners to access a property’s equity for a short term, typically two years or less, to fund capital improvements or repairs without the need to raise capital from personal sources or less flexible, higher-cost alternatives.

Secondary financing

A First National second mortgage enables borrowers to access property equity and use it to purchase another asset or renovate/repair their existing property.

Construction financing

A First National construction loan, whether CMHC insured or conventional, provides funds to cover the cost of building or rehabilitating a student housing property with terms typically of three years or less.