CIBC Better Than Prime Mortgage™
This variable-rate, 5 year closed mortgage offers you an interest rate lower than CIBC Prime Rate. You also have an option at any time to lock into a fixed-rate mortgage with a term of 3 or more years at current rates with no prepayment cost.
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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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| Term | 5-year closed | |
| Interest rate | See all CIBC mortgage rates | |
| Make additional payments | Prepay up to 15% of your original mortgage amount annually. | |
| Increase your payment amount | Your original mortgage payments (principal and interest) can be increased by up to 100% anytime during the term. The extra payment amount is applied directly to the principal, reducing overall costs. | |
| 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.1 | |
Is it for you?
The CIBC Better Than Prime Mortgage could be for you if:
- the amount of your mortgage is 95% or less than the value of your home;
- you believe that interest rates will remain stable with temporary variations.
Trademarks and Disclaimers
™ Trademark of CIBC.
Products and their features may change at any time. This is a general description only. For more information and product terms and conditions, consult product brochures or call 1-866-525-8622.
1 Available on owner-occupied residences only. Additional insurance premium applies; ask for details.
Copyright® 2008 Canadian Imperial Bank of Commerce. All rights reserved.