Probably no secret that I am a fan of Sagen Mortgage Insurance, the HOAP program has helped many of my clients during hard times. House fires, floods, divorce, you name it. They were the first competitor to CMHC and that helped reduce premiums for all Canadians.

Sagen released last week that they would allow extending amortizations back out to the 40 yr mark within reason of course and just down to 39%GDS.  Glad to see there is some uncommon common sense in times that are this unusual.

My prediction is that while it is not fully advertised many banks and other insurers will follow.

If you would like to read more about it, here is a PDF from Sagen themselves outlining the changes in more detail: BDL-EN_Sagen-Lender-Update-Supporting-Homeowners-Impacted-by-Rising-Interest-Rates

Angela Calla is an 18-year award-winning woman of influence which sets her apart from the rest. Alongside her team, Angela passionately assists mortgage holders in acquiring the best possible mortgage. Through her presence on “The Mortgage Show” and through her best-selling book “The Mortgage Code“, Angela educates prospective home buyers by providing vital information on mortgages. In light of this, her success awarded her with the 2020Business Leader of the Year Award.

Angela is a frequent go-to source for media and publishers across the country. For media interviews, speaking inquiries, or personal mortgage assistance, please contact Angela at hello@countoncalla.ca or at 604-802-3983.

Click here to view the latest news on our blog.