First National Financial LP
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Multi-family residential

A multi-family residential property is a building with five or more residential units. Some examples include an apartment building, townhouse or row house.

The multi-family asset class is the most popular and largest portion of commercial real estate in Canada. Inventory is plentiful, and there is a range of options to suit every type of buyer. Many buyers choose multi-family because of the consistency of revenue and occupancy, making it a less risky type of investment. With multi-family, buyers can start small and grow their portfolios as they hone their operational expertise.

First National offers several solutions to meet the diverse needs of borrowers interested in multi-family assets.

CMHC financing

Typically, CMHC-insured financing offers lower interest rates and longer amortizations, enabling borrowers to manage cash flow more effectively and realize higher returns.

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Standard Financing

Standard financing is usually considered when borrowers are acquiring a new property or refinancing an existing one and want longer-term financing with predictable payments.

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Short-term (bridge) Financing

Bridge financing addresses a borrower’s short-term needs, usually three months to three years.

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Repositioning / renovating financing

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.

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Secondary financing for multi-family residential property

Second mortgages are often used to access equity in a property when a borrower wants to purchase another asset or renovate/repair a property.

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Development / Construction

A construction loan helps borrowers manage periodic payments for contract work during the building of a real estate asset.

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CMHC financing

Typically, CMHC-insured financing offers lower interest rates and longer amortizations, enabling borrowers to manage cash flow more effectively and realize higher returns.

Learn more

Smart risk solutions in action for multi-family

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

Loan used to payout existing mortgages and liberate equity to be used in renovation and expansion of borrower’s portfoli

  • $2 million
  • 15 units
  • Wolfville, Nova Scotia
  • CMHC refinancing first mortgage
  • 10 years term, 25 years amortization
  • LTV: 85%

Conventional mortgage used to facilitate purchase of subject property

  • $42 million
  • 24 units
  • Kitchener, Ontario
  • Conventional purchase
  • 2 months term, interest only
  • LTV: 75%

Construction takeout financing for development of subject property

  • $6 million
  • 151,570 sq. ft.
  • Coaldale, Alberta
  • CMHC insured first mortgage
  • 10 years term, 30 years amortization
  • LTV: 85%

CHMC insured refinancing first mortgage against property

  • $7 million
  • 74 units
  • Boucherville, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 35 years amortization
  • LTV: 65%

Bridge the purchase while waiting for CMHC for permanent term financing

  • $26 million
  • 162 units
  • Toronto, Ontario
  • Conventional purchase
  • 1 year term, interest only
  • LTV: 65%

Provide construction financing for a multi-residential property

  • $10 million
  • 49 units
  • Lower Sackville, Nova Scotia
  • CMHC construction financing

  • 2 years term, interest only

  • LTV: 85%

Providing CMHC insurance to assist in the acquisition of subject property

  • $5 million
  • 16 units
  • Toronto, Ontario
  • CMHC insured purchase
  • 5 years term, 40 years amortization
  • LTV: 85%

CMHC insured mortgage refinancing to payoff existing loan

  • $6 million
  • 23 units
  • Montreal, Quebec
  • CMHC refinancing first mortgage
  • 10 years term, 35 years amortization
  • LTV: 75%

Latest resources and insights

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

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