Genworth Financial is offering these 30-35 year mortgages to their clients. I sat in a meeting about it a couple mondays ago and it seems like a very good alternative to the first time home buyer to help get them into a house, I'm actually considering doing it myself. The surcharge from what I can rememer was around .2 percent on your loan for the 30 year mortgage and I think .5 for the 35 year one. Definitely check with a mortgage broker regarding this cost, but hey if it saves you money per month then why not? it's not like most people stay in their homes for 30 years anymore anyways.
Here's a link about it:
http://agonist.org/canuck/20060319/t...ived_in_canada