Based on your answers, we recommend the following:
This is a fixed-rate, closed mortgage that gives you a great low rate without having to negotiate!
- Opt to lower your payments for the first 9 months of your term
- Prepay up to 10% of original principal mortgage amount annually
- Your mortgage payments (principal and interest) can be increased up to 100% of the original regular payment amount any time during the term. The extra amount is applied directly to the principal, reducing overall costs
This mortgage offers you the security of a fixed interest rate, so you'll always know exactly what your payments will be.
- Choose a payment frequency that suits your cash flow and budget
- Know exactly what your long-term expenses will be with a locked-in interest rate
- Prepay up to 10% of original principal mortgage amount annually
This is a short-term closed mortgage with a fixed interest rate and the flexibility of converting to a long-term closed mortgage at any time1.
- 6-month closed fixed interest rate for the duration of the term
- Prepay up to 10% of your original mortgage amount annually
- Convertible to any closed-term CIBC mortgage ranging from 1, 2, 3, 4, 5, 7, 10 years without any prepayment costs
The CIBC Variable Flex Mortgage offers you a low variable interest rate over a 5-year term, plus the flexibility to make annual prepayments and convert your mortgage term.
- Prepay up to 20% of your mortgage without paying a prepayment charge*
- Convert to a fixed rate closed mortgage term of 3 years or more at any time
- Know your interest rate will fluctuate, but could potentially be higher or lower over the term of your mortgage
Purchase your home with as little as 5% down as a first-time home buyer.
Request a call from a CIBC Mortgage Advisor by selecting the "Call Me" button on the right-side of the page and entering your information.
Together, you can determine the best new construction financing options for you.
