Calgarians consider longer mortgage terms for lower payments
Buyers, homeowners are considering longer amortizations to afford potential move-up purchase amid high prices, rates.
by Joel Schlesinger · Calgary HeraldGoing longer for a lower payment is more in vogue these days in Calgary’s pricier home market. More buyers are seeking 30-year amortization mortgages than ever despite limitations on who qualifies versus the standard 25-year amortization.
“We are doing a lot of 30-year amortizations when the customer is eligible,” says mortgage broker Matt Leggett with Ratehub.ca in Calgary.