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CIBC New Resident and Non-Resident Home Ownership Programs

CIBC is committed to assisting newcomers to Canada who have recently received Canadian immigration status. If you are among this group, you may not have had sufficient time to establish a credit history and perhaps a banking relationship in Canada. We're here to help you attain your dreams of home ownership.

CIBC also offers financing options for non-residents looking to purchase a second, vacation or investment property in Canada.

Interested in applying for a CIBC Mortgage?

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 (English), 1-888-898-2828 (Cantonese), 1-888-298-8822 (Mandarin), or visit one of our branches.

Apply for a Pre-approval Certificate

Downpayment requirements
  • New residents - minimum downpayment of 30% required for conventional mortgages and as little as 5% downpayment for high ratio insured mortgages
  • Non-residents - minimum downpayment of 30% required for conventional mortgages or downpayment of 10% for high-ratio insured mortgages
Terms All available mortgage terms
Interest rate Available on CIBC fixed and variable rate mortgages. See all CIBC mortgage rates
Make additional payments Prepayment privileges vary based on product type, but can be as high as 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% any time 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 35 years to pay off your mortgage, which can improve your cash flow.1

Is it for you?


The CIBC New Resident and Non-Resident Home Ownership Programs could be for you if:

  • You are new to Canada and have not yet established a Canadian credit history
  • You live outside Canada and are looking for a Canadian vacation or investment property
  • You have saved enough for a downpayment

Trademarks and Disclaimers

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 Additional insurance premium applies; ask for details.