New to Canada? Planning to buy your first home? The goal of becoming a homeowner seems to be becoming more and more unattainable for young Canadians with the allowance of 30 years amortization period on brand new home purchases. Over the past few years, skyrocketing housing costs and rising interest rates have resulted in serious affordability issues. The Canadian government has unveiled a new strategy aiming at bringing that goal a little closer to reality with its move of increasing five more years in mortgage amortization. If you are buying your first home and are in need of first time homebuyer mortgage in Abbotsford, rely on a seasoned mortgage broker with a proven track record of mortgage approval.