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.