First National Financial LP
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Bridge financing for student housing properties

First National’s bridge loans are ideal for borrowers who have yet to secure standard financing or who need the time and flexibility to plot a better future for their student housing assets.


Our bridge loan terms typically 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. 

Additionally, a bridge loan can be used opportunistically to execute an operational strategy such as negotiating new leases or securing new tenants to position the property more positively for standard financing. This type of short-term financing can be used to provide a borrower with enough time to substantially rehabilitate and stabilize a property with the ultimate goal of positioning it for a First National insured or standard conventional financing.

Consistent cash flows, strong operational history and the borrower’s net worth and liquidity are key considerations for this type of financing. 

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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.

CMHC MLI Select mortgage refinancing to repay the construction loan for a newly developed 50-unit apartment.

  • $12.2 M
  • 50 units
  • Truro, NS
  • CMHC insured first mortgage
  • 5 years term, 50 years amortization
  • LTV: 85%

CMHC Market refinance to pay off the construction mortgage on a newly built 117-unit rental building.

  • $34.3 M
  • 117 units
  • Montreal, QC
  • CMHC insured first mortgage
  • 10 years term, 40 years amortization
  • LTV: 69%

Non-recourse first mortgage under CMHC Market to extract equity for improvements to other properties.

  • $10.8M
  • 69 units
  • Dartmouth, NS
  • CMHC insured first mortgage
  • 10 years term, 35 years amortization
  • LTV: 65%

CMHC MLI Select construction loan for developing an 83-unit purpose-built rental apartment.

  • $51.5M
  • 86 units
  • Saugeen Shores (Port Elgin), Ontario
  • CMHC insured first mortgage
  • 5 years term, 50 years amortization
  • LTV: 92%

CMHC MLI Select refinancing to pay off the existing mortgage and extract equity for property upgrades and future investments

  • $51.5 M
  • 116 units
  • London, ON
  • CMHC insured first mortgage
  • 5 years term, 40 years amortization
  • LTV: 85%

Construction mortgage for the development of 116 stacked townhomes

  • $61.8 M
  • 197 units
  • Toronto, ON
  • CMHC insured first mortgage
  • 10 years term, 40 years amortization
  • LTV: 71%

Refinance to pay out of an existing mortgage and a credit facility secured by the borrower's real estate portfolio

  • $3.9 M
  • 25 units
  • Iqaluit, NU
  • CMHC insured first mortgage
  • 10 years term, 40 years amortization
  • LTV: 65.1%

Refinance of an existing mortgage and equity extraction for capital repairs for other rental properties

  • $3.6 M
  • 54 units
  • Ottawa, ON
  • CMHC insured mortgage
  • 10 years term, 40 years amortization
  • LTV: 32%

Latest resources and insights

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

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View other student housing solutions

CMHC financing

As a deeply experienced CMHC-approved lender, we are experts in securing insured financing that offers lower interest rates and longer amortizations. An insured mortgage enables borrowers to manage cash flow more effectively and realize higher investment returns.

Learn More: CMHC financing

Standard financing

First National’s standard financing programs are favoured by borrowers who look to acquire a new property or refinance 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. 

Learn More: Standard financing

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.

Learn More: Asset repositioning

Secondary financing

A First National second mortgage enables borrowers to access property equity and use it to purchase another asset or renovate/repair their existing property.

Learn More: Secondary financing

Construction financing

A First National construction loan, whether CMHC insured or conventional, provides funds to cover the cost of building or rehabilitating a student housing property with terms typically of three years or less.

Learn More: Construction financing
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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.

Subscribe