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Can I get a 20-year mortgage in Canada?
Most banks, online lenders and credit unions offer a 20-year mortgage. If your income and expenses allow you to contribute more toward your mortgage each month, a 20-year mortgage can save you thousands of dollars in the long run.19 Jan 2021
What is longest fixed-rate mortgage in Canada?
25-year
A 25-year fixed mortgage rate means your interest rate is locked in for 25 years. It's the longest mortgage term available in Canada, and RBC Royal Bank is the only lender that currently offers this term.
69% of Canadians choose a fixed-rate mortgage. A fixed rate means that your rate and monthly payment will stay constant throughout the term of your mortgage. |
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