First National Financial LP
condo-inventory

Student housing

Standard financing

Standard Financing for condo inventory loans typically offers a shorter term, depending upon when the borrower expects to sell the individual units. Floating interest rates typically apply with no amortization requirement.

The sale of individual units is the key consideration for this type of financing.

In most cases, the borrower is expected to contribute 100 per cent of the net sale proceeds from the unit sales. As the borrower sells units, the loan is paid down simultaneously until the point of liquidation. Once the loan is liquidated, the borrower is able to keep the profits from the remaining unit sales.

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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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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.

Loan used to payout existing mortgages and liberate equity to be used in renovation and expansion of borrower’s portfoli

  • $2 million
  • 15 units
  • Wolfville, Nova Scotia
  • CMHC refinancing first mortgage
  • 10 years term, 25 years amortization
  • LTV: 85%

Conventional mortgage used to facilitate purchase of subject property

  • $42 million
  • 24 units
  • Kitchener, Ontario
  • Conventional purchase
  • 2 months term, interest only
  • LTV: 75%

Construction takeout financing for development of subject property

  • $6 million
  • 151,570 sq. ft.
  • Coaldale, Alberta
  • CMHC insured first mortgage
  • 10 years term, 30 years amortization
  • LTV: 85%

CHMC insured refinancing first mortgage against property

  • $7 million
  • 74 units
  • Boucherville, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 35 years amortization
  • LTV: 65%

Bridge the purchase while waiting for CMHC for permanent term financing

  • $26 million
  • 162 units
  • Toronto, Ontario
  • Conventional purchase
  • 1 year term, interest only
  • LTV: 65%

Provide construction financing for a multi-residential property

  • $10 million
  • 49 units
  • Lower Sackville, Nova Scotia
  • CMHC construction financing

  • 2 years term, interest only

  • LTV: 85%

Providing CMHC insurance to assist in the acquisition of subject property

  • $5 million
  • 16 units
  • Toronto, Ontario
  • CMHC insured purchase
  • 5 years term, 40 years amortization
  • LTV: 85%

CMHC insured mortgage refinancing to payoff existing loan

  • $6 million
  • 23 units
  • Montreal, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 35 years amortization
  • LTV: 75%

Latest resources and insights

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

Growth, Value and Risk

Article
The BoC made its sixth interest rate decision for 2021, read an overview of the announcement here.

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Expert insights

Article
Insights from Adam Powadiuk during the Canadian Apartment Investment Conference on September 22, 2021.

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Borrower perspectives

Article
We spoke to Joe about how he continues to adapt in year two of the pandemic, his vision and key priorities for growth, and how First National supports his ambition and continued growth.

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Capital Markets update

Article
Neil Silverberg, Senior Analyst, Capital Markets, reviews what happened over the last few weeks in the market, how the market reacted and what it means for you. Read the full commentary here.

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View other student housing mortgage solutions

Short-term (bridge) financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years.

Learn More

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.

Learn More

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.

Learn More

Development / Construction

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

Learn More
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Sign up for Market updates

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.