KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers

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 deferral, please submit a payment deferral request through My Mortgage or fill out our online mortgage payment deferral request form.

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.

Properties with stable cash flow and consistent operating histories are favourable candidates for standard financing. For alternative assets, this can mean properties that are fully or nearly fully leased, have a majority of tenants on long-term leases and can display a consistent history of strong tenancy.

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. For alternative, conventional is the most common type of standard financing.

Standard financing is usually considered when borrowers want the payment predictability that comes with a fixed interest rate. However, it is important to note that a typical conventional financing term for an alternative asset is five years. Longer terms are available, but there is often greater scrutiny on future cash flows. Borrowers must be able to show that longer-term leases (i.e. maturing in 10 years or more) are in place for the duration of the mortgage term.

Commercial Mortgage Backed Securities (CMBS): CMBS is a conventional financing solution available for first mortgages on established, stabilized properties (generally three or more years of stable operating history). This type of financing works well for properties with in-place, stabilized net cash flow.

Connect with a financing expert

Barry C. Gidney
Assistant Vice President, Commercial Financing

Dru McAuley
Assistant Vice President, Commercial Financing

Jody Comeau
Assistant Vice President, Commercial Financing

Andrew Brickley
Director, Commercial Financing

Michael Yeung
Regional Vice President, Commercial Financing, British Columbia

Michele Cook
Director, Commercial Financing

Daniel Kowalczyk
Senior Analyst, Commercial Financing

Jonathan Philipps
Director, Commercial Financing

Damir Jesic
Assistant Vice President, Commercial Financing

Paul Steckler
Assistant Vice President, Commercial Financing

Miyadh Mutahar
Analyst, Commercial Financing

Adam Powadiuk
Director, Commercial Financing

Brian Kimmel
Assistant Vice President, Commercial Financing

Jamie McCallum
Assistant Vice President, Commercial Financing

Scott Lynds
Assistant Vice President, Commercial Financing

Andrew Drexler
Assistant Vice President, Commercial Financing

Evan Pawliuk
Assistant Vice President, Commercial Financing

Robert Fleet
Assistant Vice President, Commercial Financing

Benoit Allaire
Assistant Vice President, Commercial Financing

Lori Isaac
Senior Analyst, Commercial Financing

Reed Bracken
Assistant Vice President, Commercial Financing

Russell B. Syme
Assistant Vice President, Commercial Financing

Ilan Barda
Assistant Vice President, Commercial Financing

Edgar Kieser
Assistant Vice President, Commercial Financing

Gidu Park
Analyst, Commercial Financing

Mitchell Tomulka
Assistant Vice President, Commercial Financing

Troy Barker
Assistant Vice President, Commercial Financing

Simon Verdy
Assistant Vice President, Commercial Financing

Henry Chung
Director, Commercial Financing

Samuel Lasanté
Director, Commercial Financing

Daniel Bragagnolo
Assistant Vice President, Commercial Financing

Alison Afaganis
Senior Analyst, Commercial Financing

Maksim Stajic-Katic
Senior Analyst, Commercial Financing

Jim Foote
Assistant Vice President, Commercial Financing

Stefan Steele
Senior Analyst, Credit Adjudication

Peter Cook
Assistant Vice President, Commercial Financing

Erin Solmundson
Senior Analyst, Commercial Credit

Darryl Bellwood
Assistant Vice President, Commercial Financing

Adam Weinbaum
Analyst, Commercial Financing

Yohan Kadoch
Assistant Vice President, Commercial Financing

Abby McQuire
Director, Commercial Financing

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