Canada Mortgage Calculator with 40 Year Amortizations!

Canadian Mortgage Calculator for Vancouver Real Estate with Amortizations up to 40 Years

I am both a property owner in Vancouver and a Realtor. I am constantly watching the mortgage market here in Canada to see how changes to mortgage interest rates and amortization affect both the Vancouver real estate market and my personal real estate holdings.

The current ultra low mortgage rates (Like 2.99% on a 5 Year Fixed Rate Mortgage!?) have really focused my mind on mortgages and one of the things I use online A LOT (OK, compulsively, all the time) is a mortgage calculator.

Frustration with Online Mortgage Calculators

Consistently finding a good Canadian mortgage calculator that could work for both investors and owner occupiers was quite frustrating for me. In using online mortgage calculators I noticed that many of the calculators I found are specific to the US and not Canada.

This mortgage calculator you see above is proudly Canadian and Canadian made! Among the Canadian mortgage calculators, I also noticed that they could not do long amortizations out to 40 years.

Why are 40 Year Amortizations on this Mortgage Calculator?

In the Spring of 2011, Canada’s Department of Finance changed the amortization rules so that INSURED mortgages could not have an amortization longer than 35 years.

But keep in mind, that is ONLY for mortgages INSURED by the CMHC which are at 80% loan to value (ie a property where the mortgage is less than 80% of the properties value, like a property worth $1 that has a mortgage on it for $.80 or less).

Amortizations of up to 40 years are still allowed in Canada?

YES! Mortgages that are low ratio (ie less than 80% loan to value) amortizations of up to 40 years are still allowed!. These longer amortizations can be be useful and powerful for investors (but are not for everyone!). The rarity of decent Canadian Mortgage Calculators with amortizations of up to 40 years is a major reason I had this calculator set up on my site.

Just to clarify, you can get up to a 40 year amortization on low ratio mortgages!

I would love to hear your thoughts and comments on this Canadian Mortgage Calculator that is good for amortizations out to 40 years!

Worried about Buying a Nightmare Condo in Vancouver? Check out this great post on How To Avoid Leaky Condos!

Thinking of Getting a Mortgage on a Presale Condo in Vancouver? Check out this great video on Mortgages for Presale Condos in Vancouver!


  Comments: 5

  1. Hi. My mortgage of five years is up in feb

    I am retiring in 2016. I’m looking to lock
    In for 10 years. To preferably a 35
    To 40 mortgage What r my chances
    In getting a half decent rate ? My bc property was assessment This year
    Was 412000. I would like a mortgage 170000

    • Hi Kellie,

      Good to hear from you.

      I am not a mortgage broker.

      Would you like me to have one contact you?


  2. I co-own a town home with my father who may not live past ten years for an illness he has had. I am not sure I can afford to do anything other than sell this place when he passes on…or end up in a real deep ditch? if we renew our mortgage and I can not afford monthly payments if my dad were to die, I do not know if I can take the risk. I can afford no more than 900. a month on a 235,000. town home with 30,000. paid to it, I suppose it leaves it a 200,000. around. Right now we pay 1300. every month with strata and town home fees. Can you please advise me, as I was only just recently made aware that there was even such a things as 40 year loans? Is there an option for my me?

    • Hi Tammy,

      Good to hear from you.

      We can definitely help you with this.

      Give me a call at 604-763-3136 and we can help you with this.


  3. Hi Mike,

    I like to know more about 40 year amortization mortgage.

    Can you let me know the contact details?


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