First Mortgage upsizes credit facility to C$150 million

By William Gullotti

Buffalo, N.Y., March 10 – First Mortgage LP increased the size of its existing credit facility to C$150 million from C$80 million on Thursday, according to a press release.

This marks the second increase to First Mortgage’s credit facility in one year, adding four new lenders as part of the arrangement.

Facility details regarding tenor, interest and participants were not disclosed.

As of Feb. 28, 2022, the company's mortgage portfolio consisted of 146 mortgages for an aggregate value of $93 million.

Established March 2021, First Mortgage is an owner-occupied residential mortgage lender focused on prime borrowers in urbanized Ontario.

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