In addition to CMHC-insured mortgages, First National provides standard financing including conventional mortgages to enable the acquisition or refinancing of multi-family properties.
Conventional financing is an excellent option for borrowers who want different loan terms and are unable to meet CMHC requirements perhaps because their properties include a commercial component (retail or office) that exceeds the national housing agency’s
criteria based on a percentage of gross floorspace and revenue composition.
Conventional financing loan terms typically range between three and five years; however, longer terms are also available.
Properties with stable cash flow and consistent operating history are favourable candidates for standard financing.
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.