CIBC Fixed-Rate Open Mortgage

This open mortgage gives you the security of a fixed interest rate, and the flexibility to pay off as much as you want on your mortgage at any time1.

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.

Terms	6 month or 1 year open
Interest rate	fixed rate for the duration of the term
Make additional payments	Repay part or your entire mortgage without prepayment cost.
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.
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 Fixed-Rate Open Mortgage could be for you if any of the following apply:

you think interest rates will stay the same or decrease
you want to avoid locking in for a long time
you want the flexibility to make large lump sum payments or pay off your mortgage entirely on any payment date
you want the security of knowing the exact amount of your mortgage payments
you think you'll be selling your property soon

Useful information

minimum mortgage amount of $10,000
makes budgeting easy, because you know exactly what your mortgage payment will be for the term

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.

1 Products and their features may change at any time. This is a general description only. For more information call 1-866-525-8622.

2 Available on owner-occupied residences only. Additional insurance premium applies; ask for details.

+ 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.

Mortgage rates

Terms
6 months
1 year

APR
%
%

as of

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Find out how much you can afford and secure a mortgage interest rate by applying for a pre-approval certificate. Apply for a pre-approval.

Protect one of your most important financial assets. Get affordable protection with CIBC Mortgage Life Insurance and rest easy knowing that your family's home is protected up to a maximum of $750,000 of your mortgage.