First National Financial LP
mixed-use

Standard financing for mixed-use properties

First National’s standard financing programs are ideal for borrowers when they acquire a new property or refinance an existing property and do not qualify for insured programs. 

Conventional financing is an excellent option for borrowers who want different loan terms and are unable to meet CMHC insurance requirements because their property has a commercial component (retail or office) that is greater than 25 percent of the total gross floor space and revenue from that component of greater than 25 percent.

Conventional financing loan terms typically range between three and five years; however, longer loan terms are available.

Properties with stable cash flow and consistent operating histories are favourable candidates for standard financing. 

First National also provides full support and expertise to borrowers seeking CMHC term and construction loans.

Speak to one of our empowered advisors to assess options and determine the best course of action for finding and securing a smart-risk mortgage, insured or conventional. 

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

Smart risk solutions in action for mixed-use

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

Refinance of a 6-plex to recoup construction costs.

  • $1.3 Million
  • 6 units
  • Edmonton, Alberta
  • CMHC insured first mortgage 
  • 10 year term, 50 years thereafter
  • LTV: 95% 


The loan purpose is to refinance an existing construction mortgage.

  • $12.4 Million
  • 24 units
  • Campbell River, British Columbia
  • CMHC insured MLI Select - 100 Points (Energy Efficiency) first mortgage loan
  • 10 year term, 50 years amortization
  • LTV: 68.47%

To refinance an existing mortgage and provide equity take out for capital improvements.

  • $ 5 Million
  • 14 units
  • Montreal, Quebec
  • CMHC insured first mortgage loan
  • 5 year term,
  • 50 years amortization
  • LTV: 80.65%
  • DSC: 1.37x

Provide financing for the property to complete the construction.

  • $27.2 Million
  • 95 units
  • Montreal, Quebec
  • Insured 1st mortgage
  • 24 months term for construction, 5/10 thereafter, Interest only amortization during construction, 40 years thereafter
  • LTV: 93.79%"

Refinance with MLI Select

  • $5.2 Million
  • 25 units
  • Montreal, Quebec
  • CMHC Insured
  • 5 years term, 40 years amortization
  • LTV: 92.54%

Used to pay out the conventional construction financing from First National Financial LP with additional proceeds used towards the purchase and construction of multi-family developments

  • $10.3 Million
  • 40 units
  • Halifax, Nova Scotia
  • CMHC insured first mortgage loan
  • 10 years term, 40 years amortization
  • LTV: 84.2%

Refinance the existing debt registered against the property with a CMHC insured first mortgage

  • $2 Million
  • 6/12 units
  • Iqualit, Nunavut
  • CMHC first mortgage loan
  • 10 years term, 25 years amortization
  • LTV: 75%

Loan used to facilitate the purchase of a mixed-use property

  • $25 million
  • 1,445,000 sq. ft.
  • Mississauga, Ontario
  • First mortgage land financing
  • 36 months term
  • LTV: 64%

Latest resources and insights

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

Growth, Value and Risk

Article
In a decision sure to be cheered by property owners and businesses far and wide, the Bank of Canada today reduced its policy interest rate for the fourth time in 2024.

View all

Expert insights

Article
As we head into the final two months of 2024, it’s becoming clear that the market is gearing up for better times ahead on the back of four Bank of Canada rate reductions since June including last week’s 50 basis point cut.

View all

Borrower perspectives

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.

View all

Capital Markets update

Article
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.

View all

View other mixed-use mortgage solutions

CMHC Financing

First National’s insured financing programs are ideal for borrowers when they acquire a new mixed-used property or refinance.

Learn More: CMHC Financing

Bridge financing

First National’s 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.

Learn More: Bridge 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 an existing property.

Learn More: Secondary financing

Construction financing

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

Learn More: Construction financing
city

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.