Quote:
Originally Posted by Art Vandelay
I have a 35yr. I have 1.5 yrs left on my current term. Through some prepayments I have my amortization down to 30 yrs as of now. I did not need CMHC insurance when I signed up for the mortgage as my down payment was like 30%.
When it comes to refinancing, will I need to go with a 25yr amortization or do banks still offer more than 25yrs on non-insured mortgages?
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My understanding from renewing in June is that the renewals are always based on the original mortgage. I've prepaid a lot in mine, but I have the choice to go back to my original 35 year term if the need arises. This was with TD.