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How to get the lowest rate on your mortgage (new and renewing mortgages)

Build Wealth Canada Podcast

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What Is Ammortization?

Ammortiization is just a fancy word for how long it takes you to pay off your mortgage in full. The standard amertization is 25 years in canada, but if you're doing more than 20 % down payment, you go up to 30 years. Nowa 30 years makes it easier to qualify for a mortgage,. But it will also be more costly in terms of the amount of interest that you'll pay over the life of the mortgage. Fos for stretching out that mortgage by five years.

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