Standard financing

First National’s standard financing programs are favoured by borrowers when acquiring a new property or refinancing 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.

First National’s standard financing programs for retail property assets are ideal for borrowers who wish to acquire a new property or refinance an existing property.

Standard financing terms are typically five years (shorter and longer options are available), feature a fixed interest rate and are usually closed to prepayment for the term’s duration.

This type of financing is suitable for retail properties that are fully or nearly fully leased, have long-term leases with a majority of tenants, and display a consistent history of strong tenancy and stable cash flows.

For longer loan terms (be it 10 or more years), long-term leases that align with mortgage maturity are considered highly desirable.

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.

Smart risk solutions in action for retail

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

To refinance the property.

$5.1 Million
17,488 sq. ft.
Oakville, Ontario

Conventional first mortgage
5 years term, 25 years amortization
LTV: 66%

To refinance the property and obtain equity capital for renovation business

$11.7 Million
165,528 sq. ft.
Barrie, Ontario

Loan financing
7 years term, 25 years amortization
LTV: 70%

Seeking a term loan to provide capital for the purchase of retail property

$6.8 Million
19,656 sq. ft.
London, Ontario

Conventional loan
5 years term, 25 years amortization
LTV: 60.0%

To refinance the current loan on the subject properties

$4.6 Million
57,574 sq. ft.
Woodstock/Orangeville, Ontario

Refinance
5 years term, 20 years amortization
LTV: 70%

Construction financing for the development of urban retail

$9 million
84,530 sq ft
Oakville, Ontario

Conventional construction advance
3 years term, 8 years amortization
LTV: 75%

Liberate existing debt against property to finance continued improvements on subject property

$6 million
32,542 sq ft
Milton, Ontario

CMHC refinancing first mortgage
Conventional mortgage extension
3 months term, interest only

Construction financing for the development of commercial space on subject property

$5 million
49,120 sq ft
Kitchener, Ontario

Conventional loan extension
1 year term, 8 years amortization
LTV: 65%

Provide funds required to re-lease the site and invest in further additions to subject property

$7 million
42,440 sq ft
North York, Ontario

Conventional bridge renewal
1 year term, 3 years amortization
LTV: 70%

View all recent financings

Latest resources and insights

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

Growth, Value and Risk

Bank of Canada keeps its benchmark interest rate at 5.0% (for now)

The Bank of Canada kept its policy interest rate at 5.0%, a status-quo decision widely anticipated by the market.

View all

Expert insights

First National’s Atlantic Canada team pushes for another billion-dollar year

Over the last week, we’ve shared some good news about First National’s growth trajectory including the fact that we’ve just become Canada’s first lender with a $50 billion commercial mortgage portfolio.

View all

Borrower perspectives

Borrower Perspectives: Clark McDaniel, Williams and McDaniel Property Management

We spoke to Mr. McDaniel about his perspectives on rental housing, the greatest lessons he’s learned and what he values about his relationship with First National.

View all

Capital Markets update

Market Commentary: An overview of this week’s federal budget

Jason Ellis provides an overview of this week’s federal budget, rates, the housing market and more. Read the commentary here.

View all

View other retail mortgage solutions

Bridge financing

First National’s bridge loan terms usually 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 liberate property equity and use it to purchase another asset or renovate/repair an existing property.

Construction financing

A First National construction loan provides funds to cover the cost of building or rehabilitating a retail property with terms typically of three years or less.