CMHC financing for retirement housing

As a CMHC-approved lender, we are experts in securing insured financing that offers lower interest rates and longer amortizations. An insured mortgage enables borrowers to manage cash flow more effectively and realize higher investment returns.

As a CMHC-insured lender with decades of experience, we are experts in all CMHC programs that offer borrowers significant financial and strategic benefits.

Mortgage loan insurance enables borrowers to purchase or refinance retirement residents with competitive features including lower down payments and interest rates.

Additionally, CMHC-insured financing offers various loan terms, higher loan-to-value ratios, and longer amortizations. All of these advantages support cash flow goals and investment returns.

This makes our insured programs the most popular choice for retirement residents’ operators who rely on us to advise them on how to meet CMHC affordability, energy efficiency and/or accessibility requirements to successfully complete the application process.

We also provide full support and expertise to borrowers seeking CMHC construction loans. [link to that page]

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.

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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.

Smart risk solutions in action for seniors

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

Refinance of a construction loan for a 4-storey, 180-unit retirement home.

$51 Million
180 units
Calgary, Alberta

CMHC insured first mortgage
10 years term, 35 years amortization
LTV: 82%

Funds to be used for capital repairs as well as future acquisitions and new construction of rental properties.

$46 Million
135 units
Port Coquitlam, British Columbia

CMHC insured first mortgage
10 year term, 25 years amortization
LTV: 84.30%

To facilitate construction financing of a seven-story apartment

$26 Million
198 units
Sainte-Adele, Quebec

CMHC financing
3 years term, amortization Interest only
LTV: 84.90%"

Funds will be used by the borrower to payout the construction debt maturing

$85.3 Million
564 units
Terrebonne, Quebec

CMHC insured first mortgage loan
5 years term, 25 years amortization
LTV: 70%

Internal refinance to proceed with renovations on the building.

$7.3 Millon
93 units
Montreal, Quebec

CMHC insured first mortgage loan
5 years term, 35 years amortization
LTV:85%

Refinance first and second mortgage loan to the property for future investment

$12 Million
103 units
Baie-D'Urfe, Quebec

CMHC insured first mortgage loan
5 years term, 25 years amortization
LTV: 59.96%

To provide a loan that will repay the current loan on the property

$13.7 Million
144,000 sq. ft.
Edmonton, Alberta

CMHC insured first mortgage loan
10 years term, 30 years amortization
LTV: 89.3%

Funds used for capital repairs on the subject property

$24.3 Million
163 units
Georgetown, Ontario

CMHC insured first mortgage loan
5 years term, 25 years amortization
LTV: 85%

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 reduces its policy interest rate for the fourth time in 2024

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.

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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.

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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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View other seniors mortgage solutions

Standard financing

First National’s standard financing programs are favoured by borrowers who are acquiring a new property or refinancing an existing building. Loan terms typically range from three to five years, have a fixed interest rate, and are closed to prepayment for the term’s duration.

Short-term (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 buying time to complete an operational improvement.

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.

Secondary financing

A First National second mortgage enables a borrower to access the equity in a property and use it to purchase another asset or renovate/repair a property in their existing portfolio.

Development / Construction

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