CMHC Amortization From 25 years to 30 years for EVERY First time Home Buyer not just New Construction Homes but the BIGGEST thing $1.5M instead of $1M Cap on Government Insured Mortgages. , a $1.5M home in Canada is actually a STARTER HOME. Because the truth... is if the Key Government Sponsored Housing Programs is based on $1.5M, the program Canada designed to help Young Families buy their first home needs a $1.5M target as a First Home. view more