KEEPING YOU INFORMED: COVID-19 information for residential customers & commercial borrowers

Our residential call centre is experiencing higher than normal wait times.

If you are a residential customer experiencing financial hardship due to COVID-19 and need to request a mortgage payment deferral, please submit a payment deferral request through My Mortgage or fill out our online mortgage payment deferral request form.

If you are a commercial borrower experiencing financial hardship due to COVID-19, please email our Payments team at

Be assured that we are committed to getting back to all of you who have contacted us.

Your patience is appreciated, and we thank you for your understanding.


First National’s response to the announcement from the federal government on the new mortgage requirements

Oct 4, 2016, 11:04 AM by Maria Broekhof

On Monday, October 3, 2016, the Government of Canada announced changes to mortgage insurance rules. Effective October 17, 2016, all insured mortgages will now use the Bank of Canada five-year mortgage rate when calculating affordability tests. New criteria for conventional mortgages were introduced to mirror criteria already used for high ratio mortgages. These include: limiting insurance to purchase transactions on owner occupied properties; a maximum amortization of 25 years; and a maximum property value of $1 million.  After a brief transition period, the new rules will be effective November 30, 2016. Borrowers and brokers should expect a series of changes to product offerings and pricing over the coming days as the market adjusts to the new regulations. 

In the same announcement, the Government introduced new requirements for taxpayers to report sales of principal residences even if they intend on using the principal residence exemption from capital gains tax. Permanent non-residents will now be disallowed from using the exemption.