First National Financial LP®
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CMHC financing for student housing properties

First National is a deeply experienced CMHC-approved lender for the student housing industry. That means we are experts in all relevant CMHC programs and incentives and securing insured financing that offers borrowers significant financial and strategic benefits.

Mortgage loan insurance allows borrowers to purchase or refinance student housing properties with various loan terms, higher loan-to-value ratios, and longer amortizations. Ultimately, these advantages enable borrowers to maximize their loan proceeds, manage cash flow more effectively and realize higher investment returns. 

This makes our insured programs the most popular choice for property owners. 

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.

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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 proceeds were used towards paying off an existing construction mortgage

  • $14 Million
  • 46 units
  • Ilderton, ON
  • CMHC insured mortgage
  • 5 year term, 25 years amortization
  • LTV: 63.1%

The loan proceeds were applied to repay an existing construction mortgage

  • $12.3 Million
  • 35 units
  • Bridgewater, NS
  • CMHC insured mortgage
  • 5 year term, 50 years amortization
  • LTV: 95%

CMHC-insured market mortgage used to retire an existing mortgage, with no equity takeout

  • $19.1 Million
  • 94 units
  • Mississauga, ON
  • CMHC insured mortgage
  • 5 years term, 40 years amortization
  • LTV: 63%

A CMHC-insured MLI Select Pari Passu loan to replace an existing construction mortgage

  • $24.9 Million
  • 107 units
  • Kitchener, ON
  • CMHC insured mortgage
  • 5 years term, 50 years amortization
  • LTV: 87%

Construction financing to build 5-storey and 6-storey rental apartment buildings, consisting of 195 units

  • $72.2 Million
  • 195 units
  • Kelowna, BC
  • CMHC insured mortgage
  • 10 years term, 50 years amortization
  • LTV: 90.5%

The purpose of the loan is to pay out an existing first mortgage and provide equity take out for capital improvements

  • $12.1Million
  • 29 units
  • Sooke, BC
  • CMHC insured mortgage
  • 5 year term, 40 years thereafter
  • LTV: 84.8%

The loan was used to pay off an existing construction mortgage

  • $91.6 Million
  • 134 units
  • Toronto, ON
  • CMHC insured first mortgage
  • 10 years term, 50 years amortization
  • LTV: 91.1%

CMHC MLI Select refinance that achieved level 3 energy efficiency to payout existing conventional construction mortgage and equity takeout

  • $128.9 Million
  • 400 units
  • Montréal, QC
  • CMHC insured mortgage
  • 10 years term, 50 years amortization
  • LTV: 72%

Latest resources and insights

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View other student housing 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. 

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
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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.