CIBC AeroMortgage®
This mortgage product helps turn your mortgage payments into travel and lifestyle rewards!
You earn one Aeroplan Mile* for every dollar of regular mortgage interest paid, plus a one-time Sign-Up Bonus of 15,000 Aeroplan Miles1.
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The first step is to get pre-approved. If you already have a signed offer to purchase a property, you're ready to apply for a mortgage online, call Telephone Banking at 1-866-525-8622, or visit one of our branches. |
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| Terms | 1, 2, 3, 4, 5, 7 or 10 year closed | 5-year open |
| Interest rate | fixed rate for term | variable rate for term |
| Make additional payments | Prepay up to 15% of original principal amount of mortgage annually. | Fully open - you can repay up to 100% of the mortgage. |
| Increase your payment amount | Your original regular mortgage payment amount (principal and interest) can be increased by up to 100% at anytime during the term. | Payments can be increased by any amount. |
| The extra payment is applied directly to the principal, reducing overall cost. | ||
| Payment frequency options | weekly, bi-weekly, semi-monthly or monthly | |
| Amortization Period | You now have the option of taking up to 40 years to pay off your mortgage, which can improve your cash flow.2 | |
Is it for you?
The CIBC AeroMortgage could be for you if any of the following apply:
- You like the flexibility to enjoy the things you love to do, such as travelling and various lifestyle activities.
- You want to transfer your mortgage from another financial institution, and have at least 5 years remaining on its amortization.
- You would like to renew, renew early, refinance or replace your current mortgage.
Useful information
- Transfers-in must have a minimum of $10,000 with a remaining amortization period of five years or more.
- Only one CIBC AeroMortgage can be registered to one Air Canada Aeroplan number.
- CIBC AeroMortgage is available for conventional and insured mortgages only.
Trademarks and Disclaimers
Mortgages are offered by CIBC Mortgages Inc. All applicants must meet CIBC lending criteria. Available on single-family, owner-occupied residential properties only. Some conditions and restrictions apply. Products and their features may change at any time. This is a general description only. For more information call 1-866-525-8622.
* Aeroplan Miles are not actual miles but points towards rewards, including flights. Taxes, landing, departure fees and other charges and surcharges may apply to Aeroplan rewards. The Aeroplan program may be changed at any time, including reward levels. For more information on Aeroplan rewards, please go to aeroplan.com. To receive Aeroplan Miles, the CIBC AeroMortgage must not be in default. Aeroplan Miles are only awarded to one eligible Aeroplan member for each mortgage.
1 One-time sign-up bonus will only be available when a CIBC AeroMortgage is initially funded or on a first renewal or first conversion to the same. Mortgage must not be in default to receive bonus points.
2 Available on owner-occupied residences only. Additional insurance premium applies; ask for details.
® Aeroplan and AeroMortgage are registered trademarks of Aeroplan LP. CIBC and CIBC Mortgages Inc., licensees of marks.
+ CIBC Mortgage Life Insurance is underwritten by The Canada Life Assurance Company. A detailed summary of the terms, conditions, limitations, exclusions and other provisions are contained in your Certificate of Insurance, which you receive upon enrolment.
Copyright® 2008 Canadian Imperial Bank of Commerce. All rights reserved.