Lower your monthly mortgage payment by extending your amortization period. Sarah Colucci structures extended amortization mortgages for Ontario homeowners — up to 30 years for insured mortgages and longer with select lenders. Improve your cash flow. Call 647-773-4849.
Mortgage eligibility and pricing depend on the property, requested loan amount, verified income, credit history and each lender's current guidelines. Sarah reviews the complete application rather than relying on one advertised rate or one automated rule.
Sarah Antonia Colucci is a licensed Mortgage Agent Level 2 with access to more than 50 lenders. She compares available mortgage structures, explains costs and restrictions, and identifies the documents a lender will need before an application is submitted. The initial consultation is free, and recommendations remain subject to lender review, property acceptance and full underwriting.
A useful review normally includes the mortgage balance or purchase price, available equity or down payment, household income, monthly obligations, credit history and the client's short- and long-term plans. Looking at these details together helps distinguish a low headline rate from a mortgage that actually fits the client's situation.
Yes — for conventional (uninsured) mortgages with 20% or more down payment or equity, amortization up to 30 years is available from many lenders. For CMHC-insured mortgages, the maximum amortization was extended to 30 years for first-time buyers of new construction. For most existing homeowners with a standard mortgage, 30 years is achievable — I confirm your eligibility based on your specific situation.
On a $700,000 mortgage at 5%, the monthly payment on a 20-year amortization is approximately $4,620. On a 30-year amortization at the same rate, the payment drops to approximately $3,757 — a savings of $863/month. I'll calculate your exact payment reduction on the first call.
Significantly more. On a $700,000 mortgage at 5%, the 20-year amortization costs approximately $410,000 in total interest. The 30-year amortization costs approximately $653,000 — about $243,000 more. However, if you use the monthly savings to pay down other high-interest debt or invest, the net financial outcome can be positive. I model this for your specific situation.
Yes — at renewal you can extend your amortization without penalty or refinancing. You're starting a new term with your new lender at the extended amortization. This is one of the most cost-effective ways to get payment relief — no legal fees, no appraisal required in most cases.
For a personalized review, call Sarah at 647-773-4849 or request a free consultation. Rates, qualification and product availability can change without notice and are confirmed only through a complete lender application.