PRODUCTS AND RATES
Our Current Rates
Variable Rate Mortgage
Options for the Self-Employed
Express Income Qualifier
Extended Amortization
Refinance Program
Bridge Financing
Dept of National Defence
Mortgages
High Ratio & Conventional
Switches
GENERAL LENDING CRITERIA
FORMS
FAQ
 
 
Extended Amortization

ING DIRECT offers Extended Amortizations mortgage up to 35 years.

High Ratio Extended Amortization mortgages are insured by Genworth Financial or CMHC. Premiums are the same between CMHC and Genworth except that:

  • Genworth waives the extended amortization surcharge under the Energy Efficient Housing Program
  • CMHC charges an additional 0.50% surcharge for blended amortizations on refinances and ports
  • Genworth charges an additional 0.20% for every 5 year period above 25 years on the existing mortgage balance when a top-up is done on a 25 year or less amortized mortgage

Premiums

Full Premiums Traditional Amortizations Extended Amortizations
Loan-to-Value (LTV) Ratio up to 25 years up to 30 years up to 35 years
90.01 to 95% 2.75% 2.95% 3.15%
85.01 to 90% 2.00% 2.20% 2.40%
80.01 to 85% 1.75% 1.95% 2.15%
75.01 to 80% 1.00% 1.20% 1.40%
65.01 to 75% 0.65% 0.85% 1.05%
< 65% 0.50% 0.70% 0.90%

Premiums for Extended Amortizations increase in increments of 0.20% per threshold.

 
Top Up Premiums Traditional Amortizations Extended Amortizations
Loan-to-Value (LTV) Ratio up to 25 years up to 30 years up to 35 years
90.01 to 95% n/a n/a n/a
85.01 to 90% 4.25% 4.45% 4.65%
80.01 to 85% 3.50% 3.70% 3.90%
75.01 to 80% 2.75% 2.95% 3.15%
65.01 to 75% 2.25% 2.45% 2.65%
<65% 0.05% 0.25% 0.45%

Premiums for Extended Amortizations increase in increments of 0.20% per threshold.

The above terms, rates and conditions are subject to change without notice. All residential mortgage features apply.

 Download PDF

Having trouble reading the above file? If so, you'll need to download Adobe Acrobat Reader. Don't worry, it's free.
This site is intended for use by Mortgage Brokers. Visitors should be aware that all information regarding fees, policies & guidelines contained herein is positioned towards Brokers. Rates are subject to change without notice.
Privacy | Site Map