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

Short-term (bridge) financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years. Some borrowers choose bridge financing when they need flexibility to decide about the future of an asset (i.e. contemplating a sale, impending change in ownership structure or operational planning) or time to coordinate a standard financing option.

For alternative assets, short-term financing may be a strategic solution if many of the property’s leases are approaching maturity.

The flexibility enables the borrower to negotiate new leases or acquire new tenants, ultimately positioning the property more positively for standard financing.

Bridge financing typically includes floating interest rates and usually allows some form of early prepayment. Consistent cash flows and strong operational histories are key considerations for this type of financing.

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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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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.

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%

A short-term mortgage used to payout the existing construction loan used to build the property

  • $3 million
  • 24 units
  • Picton, Ontario
  • Conventional First Mortgage
  • 6 months term, interest only
  • LTV: 73.8%

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View other student housing solutions

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.

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
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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.

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