FirstService Financial, the banking and lending affiliate of FirstService Residential, closed 50 loans totaling $250 million in 2021, with negotiated interest rates averaging 50 basis points lower than what our clients could obtain on their own. This value-added service saved our clients more than $1.5 million in annual interest expense.
 
FirstService Financial is able to negotiate exclusive, preferred interest rates for our clients by leveraging its industry experience, long-established relationships with banking partners, and the size of our management portfolio – which reflects $6 billion in client deposits and $500 million in annual loan origination to partner banks.
 
The team provides an extra layer of support and accountability by serving as liaison between the board, your property manager and financial analyst, and the bank/broker to determine optimal allocation based on liquidity needs or reserve fund/study alignment.
 
Our team of experts is well versed in the process and expectations of lenders, which results in a quicker closing process as well.
 

Recent Client Success Stories | Lending

Building Unit Count Loan Amount Terms
Midtown Co-op      210      $6,000,000      Supplemental mortgage at 4.07%     
Upper West Side Co-op      182      $4,600,000      10-year fixed, interest at 2.875%     
Brooklyn Condo      179      $945,000      10-year fixed, 15-year amortization at 5.05%     
Brooklyn Co-op      162      $7,100,000      10-year fixed, 40-year amortization at 3.2%     
Flatiron Condo      110      $500,000      Revolving Line of Credit at WSJ Prime Rate     
Bronx Co-op      91     $6,250,000      10-year fixed, 30-year amortization at 3.146%     
Bronx Co-op      72     $12,000,000    10-year fixed, 30-year amortization at 3.48%     
Brooklyn Condo      68      $2,200,000 17-year fixed, interest at 5.10%     
Harlem Condo      48      $300,000      10-year fixed, interest at 4.25%     
Harlem Condo 45      $600,000      10-year fixed, 25-year amortization at 5.28%     
Downtown Condo      32      $150,000      5-year fixed, interest at 4.10%     
Brooklyn Co-op      30      $3,900,000      10-year fixed, interest only at 3.59%      
Downtown Co-op      14      $3,000,000      10-year fixed, interest only at 3.25%     

 
FirstService Financial provides best-in-class financial services for properties managed by FirstService Residential.

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