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.

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.

Subscribe

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 insured first mortgage loan used to purchase multi-residential building

  • $2 million
  • 26 units
  • Quebec City, Quebec
  • CMHC insured first mortgage
  • 5 years term, 35 years amortization
  • LTV: 82%

Withdrawing equity on the property for other real estate investments

  • $8 million
  • 65 units
  • Coquitlam, British Columbia
  • CMHC insured first mortgage
  • 5 years term, 25 years amortization
  • LTV: 58%

Loan used for the acquisition of rental townhomes

  • $7 million
  • 32 units
  • Oshawa, Ontario
  • CMHC insured first mortgage loan
  • 5 years term, 25 years amortization
  • LTV: 74%

Paying out existing construction loan and provide additional cost for the development of the retirement residence

  • $15 million
  • 77 units
  • Nanaimo, British Columbia
  • Conventional first construction mortgage
  • 2 years term, interest only amortization
  • LTV: 54%

Loan used to liberate equity for real estate investment

  • $3 million
  • 24 units
  • Halifax, Nova Scotia
  • CMHC Insured First Mortgage
  • 5 years term, 30 years amortization
  • LTV: 85%

Obtaining a new CMHC mortgage to replace a construction mortgage

  • $48 million
  • 102 units
  • Uxbridge, Ontario
  • CMHC insured first mortgage loan
  • 10 years term, 25 years amortization
  • LTV: 85%

Providing funds to refinance property and provide equity for future acquisitions

  • $9 million
  • 35 units
  • Vancouver, British Columbia
  • CMHC insured first mortgage
  • 10 years term, 30 years amortization
  • LTV: 68%

Loan used to refinance two industrial buildings and to withdraw equity

  • $12 million
  • 170,890 sq. ft.
  • Laval, Quebec
  • Conventional refinance first mortgage
  • 2 years term, 25 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 some encouraging statements about the state of the economy. Here is a summary.

View all

Expert insights

Article
Thomas Kim, Vice President and Managing Director, Capital Markets at First National shares his perspectives on recent economic and market developments and what they may mean for the future.

View all

Borrower perspectives

Article
Tavish Rai, Abstract’s Chief Asset Officer and Partner, shares his perspectives about Victoria’s current evolution, Abstract’s shift in focus back to market housing and why First National’s industry knowledge and responsiveness are so valuable.

View all

Capital Markets update

Article
Neil Silverberg, Senior Analyst with First National’s Capital Markets team reviews the latest news in rates and curves, what it means for you, the recent employment numbers and more in this week’s Market Commentary. Read the commentary here.

View all

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
city

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.

SUNPFNWEB05