30-Year Amortization in Canada (2026): Who Qualifies
A 30-year amortization lowers the monthly payment and raises total interest. It is not available on every insured mortgage.
Since 15 December 2024, CMHC-insured (and typically other insured) mortgages may amortize over 30 years if you are a first-time home buyer or the home is new construction. A 0.20 percentage-point premium surcharge applies. Everyone else on an insured deal is still in the 25-year cap.
Payments below use Canadian semi-annual compounding at 4.29% — the same engine as the calculator.
| Mortgage | 25-year P&I | 30-year P&I | Monthly difference |
|---|---|---|---|
| $400,000 | $2,167 | $1,968 | $199 |
| $500,000 | $2,709 | $2,460 | $249 |
The extra five years are not free. You pay interest longer. Uninsured 30-year products exist at some lenders; they still qualify at the stress-test rate.
If you are not a first-time buyer and the home is not new, ignore 30-year insured quotes. Run the payment calculator and the CMHC calculator with the 30-year box only when you are eligible. Longer explainer: 25 vs 30 years.