How long can I amortize my mortgage?

with Matt Parker

I get asked all the time, what's the longest amortization period I can have, and simply put the, what determines the amortization length ability is if the mortgage is insurable or uninsurable. And what that means is, if your mortgage is over 25-year amortization it is then uninsurable so in an uninsured mortgage 30 years is the maximum amortization most normally. And if it's an insured high ratio insured and or insurable mortgage. The maximum amortization is 25 years. Now there's a separate resource on the difference between insurable and uninsurable and what that all means, but the quick answer to this question is, 25 years is normally the max. Unless the mortgage is conventional uninsurable, and then we can, we can go to 30 years potentially up higher than that, through local credit unions in the, in the BC area. Very rarely, generally, 30 years is the maximum. I hope this helps. Take care.

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