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Who still does 40 year mortgages?

We DO!

None of the large banks can offer a 40 year mortgage, not even ING or other online banks … But WE CAN …and at even better than bank rates  !

WHY would you need a 40 yr mortgage?

Take clients: Joe and Joanna Johnson *actual names changed


They’re selling their current home and purchasing a new home with 20% down.

  • They have 1 kid starting grade 9  and are hoping for him to graduate and attend post-secondary education.
  • Like every other Canadian, RRSP Contributions, investments and monthly obligations can take a lot of their monthly income.


With a mortgage of $350,000.00 and a rate of 5 yr fixed at 3.25 here are the two payment options.

With a 25 year amortization:  Monthly payment is $1,708.58 With a 40 year amortization: Monthly payment is $1,299.41

That’s a savings of $409.17 per month.


So Jo and Joe decide to put those savings in a tax free savings account every month.

At the end of the 5 years the Johnsons have saved $24,550.20 in principle payments (not including any interest earned) for their childs education!

So the 40 year am isn’t just for those with limited cash flow. The possibilities are endless.

What about…

  • To buy a vacation home?
  • Wanting to put extra funds into RRSP or investments?
  • Wanting to put that money into their growing new business?


OR being able to keep you current home as a rental and qualify to now carry both homes.


Yours in amortization options,

James Signature

About the author...

Here to help inform, educate and represent you in the home financing process.

View all posts by James Loewen

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Evenings & Weekends Are Available By Appointment


5044 Fairview St,
Burlington, ON
L7L 0B4


Office: (289) 337-4029
Thank You for checking out our site. We would love to know more about what you think. This could win you a free dinner for two. Just send us an email with what you would like to see in the best mortgage brokers site on earth, and you'll be entered into the draw. We would love to hear from you and Thanks again! -James
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