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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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.

The loan will be utilized to repay the existing construction

  • $11 Million
  • 18 Units
  • Vancouver, British Columbia
  • CMHC Insured
  • 5 years term, 40 years amortization
  • LTV: 92.54%

Equity shall be used to facilitate the acquisition

  • $21 Million
  • 124,662 sq. ft.
  • Calgary, Alberta
  • Conventional Mortgage
  • 7 years term, 25 years amortization
  • LTV: 54.00%

To replace the existing land financing

  • $3.5 Million
  • 25,619 sq. ft.
  • Victoria, British Columbia
  • Conventional Mortgage
  • 1 year term, amortization Interest only
  • LTV: 43.00%

Refinance with MLI Select

  • $5.2 Million
  • 25 units
  • Montreal, Quebec
  • CMHC Insured
  • 5 years term, 40 years amortization
  • LTV: 92.54%

Refinance of an industrial building

  • $21.6 Million
  • 1 unit
  • Longueuil, Quebec
  • Conventional Mortgage
  • 7 years term, 25 years amortization
  • LTV: 63.28%

To facilitate construction financing of a seven-story apartment

  • $26 Million
  • 198 units
  • Sainte-Adele, Quebec
  • CMHC financing
  • 3 years term, amortization Interest only
  • LTV: 84.90%"

CMHC Insured first mortgage purchase of the property

  • $1.6 Million
  • 14 units
  • Montreal, Quebec
  • CMHC Insured
  • 5 years term, 30 years amortization
  • LTV: 84.99%

New CMHC insured 1st mortgage to purchase the subject property

  • $3 Million
  • 35 units
  • Bath, Ontario
  • CMHC Insured
  • 5 years term, 35 years amortization
  • LTV: 81.59%

Latest resources and insights

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

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Capital Markets update

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An overview of what’s happening in the market from Paul Uffelmann, Director, on our capital markets team.

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View other student housing mortgage solutions

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. 

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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.

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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.

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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.

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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.