Survey finds 1/3 of 1st time home buyers prefer long mortgage amortizations. (see link below)
My buyers do too (not just 1st timers), but they pay their mortgage like a 20-25 amortization. Paying a longer amortization like a shorter one is an excellent way to go as it allows you to fall back to a lesser payment if one month is a little tight in the wallet. Keep in mind the extra payments over time dramatically lower your interest payments as you have payed more in principle.
The Globe & Mail newspaper article can be found here:
