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Can Retired couple get a 25 year amortization mortgage

 
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Mark


Can retired couple get a 25 year amortization mortgage? Thank you for your help.
0     In Mortgage Cont.14

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    Q. What is the maximum amortization period in canada for a 5 year fixed mortgage?


    In Canada the maximum amortization period for a 5 year fixed mortgage is 35 years. Some banks only have the 25 and 30 years amortization for 5 years fixed mortgage.

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    Q. How do i calculate monthly interest payment on a 300,000 5 year fixed mortgage with 25 years amortization?


    You will pay $ 1,576.43 a month if you want to obtain a 300,000 mortgage for 5 years fixed mortgage with 25 years amortization period. THe calculation was done on the average rate of 2.99 percent for 5 years fixed mortgage.

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