KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers
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Our residential call centre is experiencing higher than normal wait times.

If you are a residential customer experiencing financial hardship due to COVID-19 and need to request a mortgage payment assistance, please submit a payment assistance request through My Mortgage.

If you are a commercial borrower experiencing financial hardship due to COVID-19, please email our Payments team at commercial.payments@firstnational.ca.

Be assured that we are committed to getting back to all of you who have contacted us.

Your patience is appreciated, and we thank you for your understanding.

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mixed-use

Mixed use property

A mixed-use asset segregates the property for multiple uses that can include residential, office, retail, industrial, storage and/or retirement. Examples include a retail strip plaza with second floor offices, a retail storefront with apartments above and an industrial warehouse with office space rented separately.

Standard Financing

Standard financing offers a term of five years or more, a fixed interest rate and is typically closed to prepayment for the term’s duration.

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Short-term (bridge) financing

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

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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.

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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.

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Development / Construction

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

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Smart risk solutions in action for mixed-use

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

Refinancing a 19 story apartment building

  • $35 million
  • 150 units
  • New Westminster, British Columbia
  • CMHC first mortgage
  • 5 years term, 40 years amortization
  • LTV: 85%

Financing the acquisition of the property

  • $5 million
  • 9,237 Sq. ft.
  • Toronto, Ontario
  • Conventional First Mortgage
  • 5 years term, 30 years amortization
  • LTV: 65%

Mortgage loan used to refinance apartment building

  • $30 million
  • 184 units
  • Toronto, Ontario
  • CMHC Insured First Mortgage
  • 10 years term, 30 years amortization
  • LTV: 69%

Refinancing the property’s existing debt and providing liquidity for future real estate developments

  • $37 million
  • 291 units
  • Longueuil, Quebec
  • CMHC Insured Refinance First Mortgage Loan
  • 5 years term, 35 years amortization
  • LTV: 85%

A CMHC Insured First Mortgage loan used to purchase an apartment building

  • $3 million
  • 45 units
  • Fredericton, New Brunswick
  • CMHC Insured First Mortgage
  • 10 years term, 24 years amortization
  • LTV: 65%

Paying out the existing debt on the maturing loan on the property with a new first mortgage

  • $7 million
  • 32,542 Sq. ft.
  • Milton, Ontario
  • Conventional First Mortgage
  • 1 year term, 25 years amortization
  • LTV: 54%

Refinancing of an existing mortgage loan and equity take-out

  • $4 million
  • 27 units
  • Montreal, Quebec
  • CMHC Insured First Mortgage
  • 5 years term, 35 years amortization
  • LTV: 75%

Loan used to purchase already zoned land for a proposed mixed use development

  • $3 million
  • 442 units
  • Saskatoon, Saskatchewan
  • Conventional First Mortgage
  • 12 months term, Interest only
  • LTV: 60%

Latest resources and insights

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

Growth, Value and Risk

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The Bank of Canada made its first interest rate decision of 2021 and presented its latest base-case projections for inflation and growth in the Canadian economy as part of its quarterly Monetary Policy Report.

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Expert insights

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Jeremy Wedgbury was on a panel at the RealCapital Conference yesterday discussing the growth of alternative lenders. Here are his key takeaways.

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Borrower perspectives

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In 2018, we spoke to Gord McMehen from Conundrum to get his perspectives on our 30th anniversary. We recently sat down with him to get an update on his business as well as his relationship with First National that is now more than 30 years old.

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Capital Markets update

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There were significant milestones this week with the 10 year bond and the Canadian dollar. Find out what they were in this week’s Market Commentary by Neil Silverberg.

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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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