
Development and construction loans for land
A First National construction loan provides funds to cover the cost of building or substantially rehabilitating a property with terms typically of three years or less.
An exit strategy for the construction loan is one of the key considerations for funding. Construction loans are repaid from standard financing or the sale of the asset.
Other critical considerations include the borrower’s experience, net worth and liquidity, as well as the location and quality of the site and market feasibility (especially for CMHC 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 for the land in question.

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An overview of recent First National financings across geographies and asset classes, including a brief summary of deals and the financing amounts.
Smart risk solutions in action for land
See how we’ve applied our financing products innovatively to help land borrowers achieve their goals with performance and value.
To replace the existing land financing
- $3.5 Million
- 25,619 sq. ft.
- Victoria, British Columbia
- Conventional Mortgage
- 1 year term, amortization Interest only
- LTV: 43.00%
Loan to redevelop the site with two mixed used buildings
- $18.4 Million
- 98,010 sq. ft.
- Mississauga, Ontario
- Loan financing
- 3 years term, interest only amortization
To provide land financing while the borrower completes the required financial zoning
- $9.5 Million
- 152,890 sq. ft.
- Toronto, Ontario
- First mortgage loan
- 18 months term, interest only amortization
- LTV: 67%
Bridge loan to provide capital
- $5 million
- 155,945 sq. ft.
- Guelph, Ontario
- Conventional purchase
- 1 year term, Interest only
- LTV: 63%
Bridge loan to provide capital for land purchase
- $6 million
- 36,590 sq. ft.
- Brampton, Ontario
- Conventional purchase
- 1 year term, Interest only
- LTV: 63%
Loan used to purchase already zoned land for a proposed mixed use development
- $3 million
- 442 units
- Saskatoon, Saskatchewan
- Conventional First Mortgage
- 12 months term, Interest only
- LTV: 60%
Land loan used to fully repay an existing loan and fund an 18 month debt servicing reserve
- $29 million
- 189,595 sq. ft.
- Vancouver, British Columbia
- Land loan financing
- 18 months term, interest only amortization
- LTV: 55%
Funds to assist with the purchase of land and pre-development costs
- $5 million
- 119,001 Sq. ft.
- Toronto, Ontario
- Pre-development first mortgage
- 36 months term, interest only amortization
- LTV: 54%
Latest resources and insights
Original perspectives and personal viewpoints on developments and industry trends in commercial real estate.
Growth, Value and Risk
Borrower perspectives
Capital Markets update
View other land mortgage solutions
Bridge financing
First National’s bridge loans are short-term in nature and used until construction financing is secured. Some borrowers choose bridge financing when they need the flexibility to plot the future of their assets.

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