Can a first time buyer get a 30 year mortgage in Ontario?
By Natalia Halenda, Sales Representative, RE/MAX Jazz Inc., Brokerage. Updated
The short answer
Yes. First time buyers can take a 30 year amortization on an insured mortgage. Other buyers with less than 20% down are limited to 25 years, unless the home is newly built.
From the guide: Buying your first home in Durham Region in 2026: the money, the programs and the steps
More questions from this guide
General information, not legal, tax or mortgage advice. Rates, prices and rebate rules change often. Confirm the details with your real estate lawyer and a licensed mortgage professional before you make a decision.