First National Financial LP
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Student housing

Smart-risk lending solutions for student housing property owners and developers

Universities, colleges, and private secondary institutions all attract students who need rental housing and First National is there to finance it. 

Student residences often generate strong cash flow; however, property owners must balance cash flow advantages with operational complexity and the capital expenditures required to maintain rental units. We understand these challenges and opportunities. 

We lend across the country to owners of standard homes which have been converted or purpose-built to be rented out by room to students.

CMHC financing

As a deeply experienced 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.

Learn More: CMHC financing

Standard financing

First National’s standard financing programs are favoured by borrowers who look to acquire a new property or refinance 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. 

Learn More: Standard 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 their existing property.

Learn More: Secondary financing

Construction financing

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

Learn More: Construction financing

Smart risk solutions in action for student housing

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

The loan purpose is to refinance an existing mortgage and provide equity take out for capital improvements and construct a new multi-family property.

  • $3.5 Million
  • 12 units
  • Montreal, Quebec
• CMHC insured first mortgage loan
• 5 year term, 50 years amortization
• LTV: 63.59%

Purpose of the loan is to refinance an existing construction mortgage.

  • $1.6 Million
  • 8 units
  • Edmonton, Alberta
• CMHC insured first mortgage loan
• 10 year term, 50 years amortization
• LTV: 82.38%

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 construction mortgage.

  • $15.4 Million
  • 60 units
  • Halifax, Nova Scotia
  • CMHC insured first mortgage loan
  • 10 year term, 50 years amortization
  • LTV: 87%

To refinance an existing mortgage and pay down another existing credit facility secured by multiple assets.

  • $7.4 Million
  • 30 units
  • Iqualit, Nunavut
  • CMHC first mortgage loan
  • 5 year term,
  • 40 years amortization
  • LTV: 75%
  • DSC: 1.91x

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

To provide financing to purchase a low-rise multi-family building.

  • $10.4 Million
  • 96 units
  • Miramichi, New Brunswick
  • CMHC insured first mortgage loan
  • 5 year term,
  • 40 years amortization
  • LTV: 95%
  • DSC: 1.10x

To refinance the property.

  • $5.1 Million
  • 17,488 sq. ft.
  • Oakville, Ontario
  • Conventional first mortgage
  • 5 years term, 25 years amortization
  • LTV: 66%

Latest resources and insights

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

Growth, Value and Risk

This week, CMHC advised the market of several important policy updates and refinements designed to support multi-unit housing development across Canada.

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Expert insights

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The first quarter of 2024 was the most active opening period in First National’s history as a commercial lender.

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Borrower perspectives

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We spoke to Mr. McDaniel about his perspectives on rental housing, the greatest lessons he’s learned and what he values about his relationship with First National.

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Capital Markets update

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Jason Ellis provides an overview of this week’s federal budget, rates, the housing market and more. Read the commentary here.

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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.