Let's Set the Rumours Straight Regarding the Possibility of 30 Year Amortizations Being Taken Away

In recent articles released through the media there have been rumours that more rules and regulations could be put in place on federally registered financial institutions. The one big one in particular is the rumour that 30 year amortizations will be taken away. Some might be asking, "wait a minute, were they not already taken away?" You would be partly correct. Last July, Finance Minister, Jim Flaherty reduced the amortization available for insured mortgages from 30 to 25. Your mortgage has to be insured if you have less than 20% down payment or equity in the property. This new change would refer to conventional financing; meaning people with more than 20% down payment or equity in their home.
In a recent article featured below the Finance Minister has put this rumour to rest. He dismissed fears around the Canadian housing market and thinks its unfolding as wanted and expected with no further tightening of mortgage rules at this time.
Click on the link for the full article:
As always if you have any questions around this blog or article or any other finance related questions please feel free to contact me anytime.
Tony Marchigiano
Mortgage Broker
Mortgage Alliance West


*indicates required fields.

Meet the team

  • Will Pratt
  • Justin Sabbagh
  • Mike Wilcox

Mortgage Calculator

Purchase Amount:
Down Payment:
Interest Rate:
Payment Interval:
Mortgage Term (Years)
Total Payments:
Total Amount Paid:
Total Interest Paid:


The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.