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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Student housing

Students units often generate more cash flow based on the number of tenants per unit. However, owners typically balance cash flow advantages with operational complexity and the capital expenditures required to keep the units up to quality.

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 student housing

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

Refinancing existing mortgage loans and equity takeout to retire a private mortgage

  • $3 million
  • 69,630 sq. ft.
  • Montreal, Quebec
  • Bridge loan refinance
  • 24 months, 25 years amortization
  • LTV: 61%

A new CMHC insured first mortgage used to refinance the existing first mortgage

  • $45 million
  • 227 units
  • Toronto, Ontario
  • CMHC first mortgage loan
  • 5 years term, 30 years amortization
  • LTV: 62%

Providing CMHC first mortgage used to pay out an existing construction debt

  • $41 million
  • 332 units
  • Quebec City, Quebec
  • CMHC first mortgage
  • 10 years term, 35 years amortization
  • LTV: 84%

Loan used to facilitate the construction of a brand new rental apartment building

  • $11 million
  • 52 units
  • Stratford, Ontario
  • Construction Financing
  • 24 months term, interest only amortization
  • LTV: 74%

Purchasing property to be converted into rentable storage space

  • $3 million
  • 33,825 sq. ft.
  • Midland, Ontario
  • Conventional first mortgage
  • 3 years term, interest only amortization
  • LTV: 66%

Loan used to purchase apartment property

  • $3 million
  • 32 units
  • Laval, Quebec
  • CMHC insured first mortgage
  • 10 years term, 35 years amortization
  • LTV: 85%

Providing funds to refinance property and pay down its bank line

  • $10 million
  • 91,653 sq. ft.
  • Spruce Grove, Alberta
  • Conventional first mortgage
  • 3 years term, 25 years amortization
  • LTV: 75%

Loan to be utilized to refinance existing debt and excess funds for working capital

  • $18 million
  • 148 units
  • Brampton, Ontario
  • CMHC insured first mortgage
  • 10 years term, 35 years amortization
  • LTV: 56%

Latest resources and insights

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

Growth, Value and Risk

Article
This morning, the Bank of Canada left its target overnight benchmark rate unchanged at what it describes as its “lower bound” of ¼ percent. As a result, the Bank Rate remains at ½ percent.

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Expert insights

Article
In Building Value, Zach Vanier tells us about himself and what he brings to his client relationships.

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Borrower perspectives

We spoke to Alain Grandmaison about his view of the industry impacts resulting from COVID-19, whether or not Junic has altered its vision for growth and why First National is a great fit for the new generation of developers.

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Capital Markets update

Article
Neil Silverberg, Analyst, Capital Markets, looks at the latest Canadian employment numbers, the changes that were seen in rates and curves this week and more. Read the full commentary here.

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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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