Since December 15, 2024, first-time buyers and buyers of new construction can amortize an insured loan over 30 years. A longer amortization lowers the monthly payment but raises total interest paid; it is an access tool, not a saving.
At renewal you can shorten the amortization if your income has grown, or make prepayments within the contract's privileges (often 10% to 20% of principal per year without penalty).