Land

Smart-risk lending solutions for land owners and developers.

Land is a valuable commodity and First National is there to finance it.

For decades, we have provided financing to owners and developers of land and consequently have the specialized expertise to do so with confidence.

Throughout our history of lending across Canada, we have amassed significant experience in financing both land categories: held for future development and purchased for immediate development.

Bridge financing

First National’s bridge loans are short-term in nature and used until construction financing is secured. Some borrowers choose bridge financing when they need the flexibility to plot the future of their assets.

Construction financing

A First National construction loan provides funds to cover the cost of building or rehabilitating a property with terms typically of three years or less.

Smart risk solutions in action for land

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

To replace the existing land financing

$3.5 Million
25,619 sq. ft.
Victoria, British Columbia

Conventional Mortgage
1 year term, amortization Interest only
LTV: 43.00%

Loan to redevelop the site with two mixed used buildings

$18.4 Million
98,010 sq. ft.
Mississauga, Ontario

Loan financing
3 years term, interest only amortization

To provide land financing while the borrower completes the required financial zoning

$9.5 Million
152,890 sq. ft.
Toronto, Ontario

First mortgage loan
18 months term, interest only amortization
LTV: 67%

Bridge loan to provide capital

$5 million
155,945 sq. ft.
Guelph, Ontario

Conventional purchase
1 year term, Interest only
LTV: 63%

Bridge loan to provide capital for land purchase

$6 million
36,590 sq. ft.
Brampton, Ontario

Conventional purchase
1 year term, Interest only
LTV: 63%

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%

Land loan used to fully repay an existing loan and fund an 18 month debt servicing reserve

$29 million
189,595 sq. ft.
Vancouver, British Columbia

Land loan financing
18 months term, interest only amortization
LTV: 55%

Funds to assist with the purchase of land and pre-development costs

$5 million
119,001 Sq. ft.
Toronto, Ontario

Pre-development first mortgage
36 months term, interest only amortization
LTV: 54%

View all recent financings

Latest resources and insights

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

Growth, Value and Risk

Bank of Canada brings its benchmark interest rate down 50 basis points to 3.25%

The Bank of Canada tied a bow on 2024 by cutting its policy interest rate once again today to 3.25%. This latest 50 basis point drop – coming on the heels of reductions in June, July, September and October – is welcome news.

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Expert insights

A distinctly Western Canadian view of the year in commercial real estate financing

Activity in 2024 was bifurcated. In the first half of the year, overall real estate investment activity was relatively muted as interest rates remained in restrictive territory.

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Borrower perspectives

Borrower Perspectives: Rob Piroli, President, Piroli Group

Founded in 1992 in Leamington, Ontario, Piroli Group started in general contracting (under the name of Piroli Construction) but has evolved into a multi-faceted development group.

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Capital Markets update

Market Commentary: A catch-up and overview of the markets

First National’s, Jason Ellis, provides an overview as well as an update of the markets including rates, Government announcements and changes to the Commercial mortgages. Read an overview here.

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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.