CMHC Increases Mortgage Amortization
Extended Homeowner Amortization Periods
Anticipating the needs of Canadians, earlier this year CMHC introduced to the marketplace extended amortization periods of up to 30 years for purchase transactions through a pilot product. The pilot was a great success and has helped improve access for a significant number of Canadians by lowering monthly payments. Accordingly, CMHC is pleased to announce that its 30 year flexible amortization offer is now an ongoing product offering.
Building on the success of the pilot, CMHC is also pleased to introduce extended amortization periods of up to 35 years. Extended amortization flexibilities are available on homeowner purchase and refinance transactions (excluding Line of Credit) and can be combined with our Flex Down product.
Anticipating the needs of Canadians, earlier this year CMHC introduced to the marketplace extended amortization periods of up to 30 years for purchase transactions through a pilot product. The pilot was a great success and has helped improve access for a significant number of Canadians by lowering monthly payments. Accordingly, CMHC is pleased to announce that its 30 year flexible amortization offer is now an ongoing product offering.
Building on the success of the pilot, CMHC is also pleased to introduce extended amortization periods of up to 35 years. Extended amortization flexibilities are available on homeowner purchase and refinance transactions (excluding Line of Credit) and can be combined with our Flex Down product.
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