Ontario Real Estate Licensing Exam Practice · Question
What is the maximum amortization period for a high-ratio insured mortgage in Canada?
For high-ratio insured mortgages (those with down payments less than 20%), the maximum allowable amortization period under current Canadian regulations is 25 ye
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Question: What is the maximum amortization period for a high-ratio insured mortgage in Canada?
Answer options:
- 15 years
- 20 years ✅ 25 years
- 30 years
Correct answer: 25 years
Explanation: For high-ratio insured mortgages (those with down payments less than 20%), the maximum allowable amortization period under current Canadian regulations is 25 years. This requirement helps to mitigate risk for mortgage default insurers.
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