Lender Spotlight Series: A Closer Look at First National
Introduction
Welcome to the first edition of our Lender Spotlight Series—a space where we sit down with industry experts to pull back the curtain on the lenders behind your mortgage. Whether you’re a first-time homebuyer, refinancing, or just mortgage-curious, this series is designed to help you make informed choices by understanding what makes each lender unique—from their products to their processes.
To kick things off, we had the pleasure of speaking with Sarah Almond, Account Manager at First National Financial LP. As Canada’s largest non-bank mortgage lender, First National has been making mortgages simpler, faster, and more client-friendly for over 35 years. In this blog, we cover the products they offer, their post-funding support, how they help during tough times, and what really sets them apart in today’s competitive landscape.
First National: Focused & Flexible Mortgage Solutions
First National offers a wide range of mortgage products tailored to meet different client needs—from first-time homebuyers to seasoned investors. Whether it’s a purchase, refinance, switch, or rental property, their mortgage lineup covers it all. They also offer flexible qualification options for those with unique income situations.
“We’re not a bank—we’re a monoline lender, which means we only do mortgages. That focus translates into more customized service and quicker turnaround for brokers and clients alike.”
Client Communication & the My Mortgage® Portal
First, National doesn’t just support clients at the point of approval—it stays by their side throughout the life of their mortgage. A big part of this comes from how client-friendly and accessible their communication tools are after funding.
Their My Mortgage® client portal is a one-stop hub where clients can easily:
Check mortgage details
Make extra payments
Use mortgage calculators
Access annual statements
Update account information
Print a mortgage information statement
Change payment dates
View a current amortization schedule
Review tax account details
Chat online with a First National mortgage specialist
What makes the platform stand out is not just the features—but the ease of access and intuitive design. First National also shares a concise, informative brochure with every funded client, guiding them through the portal and post-funding steps. And, true to their brand, they’re known for quick response times and efficient service, ensuring peace of mind long after closing day.
Financial Hardship: Real Support When Clients Need It Most
One of the most commendable aspects of First National is its commitment to supporting clients during times of financial difficulty. While the pandemic highlighted the need for strong borrower support, First National was already ahead of the curve, with a dedicated team in place to assist clients facing financial challenges.
As Sarah explained,
“We’ve had a specialized team for hardship cases long before COVID. When a client calls in and indicates they’re having trouble making payments, they’re directed to our Special Accounts team. From there, it’s a personalized approach—we listen, assess the situation, and work with the client to explore possible solutions.”
These solutions might include collaborating with mortgage default insurers, offering payment modifications, or finding a path forward that works for the client’s unique circumstances.
Mortgage Myths, Debunked by Sarah Almond
When it comes to mortgage lending, two major misconceptions tend to surface frequently among clients—and even sometimes among brokers.
1. “Lowest rate is all that matters.”
This is perhaps the most widespread myth. While securing a competitive rate is important, focusing solely on rate without understanding the broader mortgage strategy can be costly.
As Sarah so perfectly put it,
“The lowest rate and the wrong strategy can end up costing more than a slightly higher rate and the right strategy.”
Clients are often unaware of the impact of terms and conditions—such as penalties, prepayment options, and portability. In fact, First National has seen cases where clients chose a slightly lower rate from a lesser-known lender but faced delays and complications that nearly cost them their home purchase. In those situations, First National was able to step in and resolve the financing quickly, even if it meant the client paid a marginally higher rate.
Ultimately, peace of mind, efficiency, and the right structure matter just as much—if not more—than shaving off a few basis points.
2. “Only big banks offer mortgages.”
Another major misconception is that the “Big Six” Canadian banks are the only mortgage options available. Many clients are still unfamiliar with monoline lenders like First National, which operate exclusively through mortgage brokers and often offer competitive products, flexible terms, and personalized service that rivals the banks.
In the Spotlight: FN’s Extended Ratios Programe
First National is making waves in 2025 with its Extended Ratios Program—a unique offering in the conventional lending space. While most lenders cap debt service ratios at 39/44 (GDS/TDS), this program allows qualified borrowers to go up to 44/44, even without mortgage insurance.
In today’s high-rate, high-price market, this flexibility helps more clients qualify, especially those with strong income potential or long-term stability. This is yet another example of how First National continues to lead with adaptable, client-focused solutions.
Who Is First National the Right Fit For?
When asked about First National’s “niche,” the response was refreshingly confident:
“It’s hard to say we have one specific niche because that gives the impression that we only do pockets well—but we’ve been around for 35+ years, and I’d like to think we do everything well.”
That said, First National truly shines with first-time homebuyers. Why? Because speed, efficiency, and communication are crucial in a purchase market, especially for new buyers navigating their first major investment. First National is consistently recognized by brokers for its quick turnaround times, its clarity in communication, and its ability to reduce stress for both brokers and borrowers.
To conclude, Almond emphasized the lender’s defining strength:
“The fact that we can turn that file around very quickly and very, again, efficiently in a stress-free manner is really our bread and butter.”
The Broker Advantage
First National works exclusively with the broker community to help Canadian buyers realize their home financing goals. This means access to their competitive products, flexible solutions, and exceptional service is only possible through licensed mortgage professionals like us.
Our team at Cultivate + Evolve Financial is dedicated to fostering meaningful partnership to ensure that our clients benefit from trusted, well-aligned lender relationships.
We actively engage with First National’s broker resources and training panels, constantly optimizing our processes to align with their procedures and systems. This ensures that we’re always up to date on their latest offerings—and that you, as our client, receive the best possible experience.
This blog, featuring insights from our interview with Sarah Almond, is a testament to how seriously we take client education and empowerment. We want you to make informed choices, backed by expert insights and tailored advice.
When you work with Cultivate + Evolve Financial, you’re not navigating the process alone. You get:
A partner who advocates for your interests—ensuring you're not just getting a mortgage, but the right mortgage.
Access to monoline lenders like First National, known for speed, flexibility, and dedicated support teams.
Expert guidance to help you understand more than just the rate—because terms, conditions, and flexibility matter.
Ongoing support, from pre-approval to refinance and everything in between.
Let’s talk about what’s possible.
We’re ready to help you explore your options and find a mortgage that fits your goals—today and for the long term. If you’d like to discuss your options or simply chat about your mortgage journey, we’re here to help.
Book a call with our mortgage professional and founder, Catherine Melville, here—and take the next step with confidence.
Co-Authored By: Ruth Thakkar, Unlicensed Mortgage Assistant & Client Care Coordinator
