Extended Amortization

At MMG Mortgages, we collaborate with select lenders who accommodate extended mortgage amortizations.

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The maximum allowable amortization for high-ratio mortgages (i.e., less than a 20% down payment) stands at 25 years.

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For conventional mortgages (i.e., 20% down payment or more), you have the option to request a longer amortization. While the standard is typically 30 years, we have access to lenders willing to offer 35-year amortizations on specific conventional mortgage files.

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This flexibility serves to lower your monthly payments, mitigate exposure, and potentially increase your qualifying amount for a new mortgage approval. However, banks often slightly increase the interest rate when extending amortization periods.