Although they involve similar approval and payment processes, a residential mortgage allows prospective homebuyers to finance a house or other piece of residential real estate, usually for a single-family. First National can also help you renew or refinance your residential mortgage. Different rules apply to first and second-time homeowners.
On the other hand, a commercial mortgage gives you the ability to purchase a property so you can build or expand your business, such as office space, land, student housing or multi-family residential buildings (apartments, condominiums, etc.). Typically, more experienced business owners qualify for more appealing mortgage conditions.