
Short-term financing for office property repositioning and renovation
First National assists borrowers who are ready to enhance the value of their office properties through capital improvements.
The borrower’s expertise, net worth, and liquidity, as well as the location and quality of the property are key considerations for this type of financing.
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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 office
See how we’ve applied our financing products innovatively to help office borrowers achieve their goals with performance and value.
CMHC MLI Select mortgage refinancing to repay the construction loan for a newly developed 50-unit apartment.
- $12.2 M
- 50 units
- Truro, NS
- CMHC insured first mortgage
- 5 years term, 50 years amortization
- LTV: 85%
CMHC Market refinance to pay off the construction mortgage on a newly built 117-unit rental building.
- $34.3 M
- 117 units
- Montreal, QC
- CMHC insured first mortgage
- 10 years term, 40 years amortization
- LTV: 69%
Non-recourse first mortgage under CMHC Market to extract equity for improvements to other properties.
- $10.8M
- 69 units
- Dartmouth, NS
- CMHC insured first mortgage
- 10 years term, 35 years amortization
- LTV: 65%
CMHC MLI Select construction loan for developing an 83-unit purpose-built rental apartment.
- $51.5M
- 86 units
- Saugeen Shores (Port Elgin), Ontario
- CMHC insured first mortgage
- 5 years term, 50 years amortization
- LTV: 92%
CMHC MLI Select refinancing to pay off the existing mortgage and extract equity for property upgrades and future investments
- $51.5 M
- 116 units
- London, ON
- CMHC insured first mortgage
- 5 years term, 40 years amortization
- LTV: 85%
Construction mortgage for the development of 116 stacked townhomes
- $61.8 M
- 197 units
- Toronto, ON
- CMHC insured first mortgage
- 10 years term, 40 years amortization
- LTV: 71%
Refinance to pay out of an existing mortgage and a credit facility secured by the borrower's real estate portfolio
- $3.9 M
- 25 units
- Iqaluit, NU
- CMHC insured first mortgage
- 10 years term, 40 years amortization
- LTV: 65.1%
Refinance of an existing mortgage and equity extraction for capital repairs for other rental properties
- $3.6 M
- 54 units
- Ottawa, ON
- CMHC insured mortgage
- 10 years term, 40 years amortization
- LTV: 32%
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 office mortgage solutions
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.
Bridge financing
First National’s bridge loan terms usually 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.
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.
Construction financing
A First National construction loan provides funds to cover the cost of building or rehabilitating a property with terms typically of three years or less.

Sign up for Market updates
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.