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Are 30 Year Mortgages Back?

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Posted in Real-Estate-News

30 Year Mortgages are back.


Starting August 1st, first time home buyers purchasing new home will be allowed to obtain a 30 year amortization instead of 25 years which will help lower your monthly mortgage payments. There are a few catches.


1. Can not be a new build or spec home

2. First time buyer will be anyone who has not owned a home in the last 4 years.


There is also a change to RRSP withdrawals for first-time home buyers. The limit presently is a max withdrawal of $35,000 per person. This is being raised to $60,000. This will take effect April 16th.


Any question, feel free to contact us.

Data last updated on October 5, 2025 at 11:30 PM (UTC).
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