The length of time it takes you to pay off your mortgage in full. The maximum amortization period in Canada is 25 years for high-ratio mortgages (those that require CMHC insurance), and can go up to 35 years for conventional mortgages.
« Back to Glossary Index© Prairie West Mortgage Group Inc. | Term & Conditions | Website Design & Maintenance by: Chick-a-Dee Web & Graphic Design