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Equitable Bank unveils 40-year amortization mortgage (ON, BC, AB)
(www.canadianmortgagetrends.com)
Come and discuss anything related to personal finance, directly or indirectly, with other Canadians!
The only reason I can see is that the mortgage isn't funded by Equitable Bank but by a third-party lender. So I wonder if this is a way to circumvent the lending ratios on mortgages, which would allow people to qualify for higher amounts despite the higher interest rate.