RMG Mortgages offers one of the last remaining mortgages that maximize cash flow for well-qualified borrowers, which earned it Canadian Mortgage Trends' 2013 Mortgage of the Year award, according to a report from Daily Commercial News.

RMG's stand-out feature is its ability to offer 35-year amortizations to those with at least 20 per cent equity. It is one of only a handful of lenders with this option following Ottawa's elimination of 35-year amortizations on high-ratio mortgages in 2011, and on most conventional mortgages the year after.

Alternatively, borrowers can base their minimum payments on 35 years and then increase them to approximate 25-year payments. That provides the interest savings of a shorter amortization while letting homeowners revert to lower payments if needed.

Besides amortization flexibility, RMG has built a reputation for some of the country's deepest rate discounts, a generous mortgage switch program, fair penalties on its standard mortgages and ample prepayment privileges. For these reasons, the RMG mortgage is Canadian Mortgage Trends' 2013 Mortgage of the Year.

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