As of December 15, 2024, if your down payment is less than 20% of your home’s price, your maximum amortization period is:
- 30 years if you’re:
- a first-time homebuyer or
- purchasing a new build
- 25 years in all other cases
If your down payment is more than 20% of your home’s price, your lender sets your maximum amortization period.
function mortgage_payment_calculator() {
ob_start(); ?>