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. For Budget 2026 proposals that would change optional insurance and amortization rules — not in force on the rules above — see Budget 2026 mortgage proposals.
Frequently asked questions
Who can get a 30-year insured amortization in Canada?
Since 15 December 2024, insured mortgages may amortize over 30 years if you are a first-time home buyer or the property is new construction. A 0.20 percentage-point CMHC premium surcharge applies.
How much does 30 years save on the payment versus 25?
On a $500,000 mortgage at 4.29% the Canadian payment is about $2,709 over 25 years and $2,460 over 30 years — about $249 a month less, and more interest over the life of the loan.
Does 30 years skip the stress test?
No. Qualification is still at the mortgage stress test qualifying rate. The longer amortization lowers the qualifying payment, which can raise the maximum price, with the CMHC surcharge on insured files.