CIBC Mortgage Selector -- Choose a Mortgage


		What are you planning to do? Purchase a home as my primary residence Purchase an additional home/property Renew my CIBC mortgage Borrow additional money using my home (refinance) Transfer my mortgage to CIBC Will this be your first home? Please indicate if this will be your first home. Yes No How much are you planning to spend? Approximate purchase price: $ Please enter the approximate value of the purchase price of your house. You have entered an invalid currency amount. Please re-enter the amount. The minimum purchase price of your home must be at least $10,000. Approximate downpayment: $ Please enter the approximate amount of your downpayment. You have entered an invalid currency amount. Please re-enter the amount. Your downpayment should not be greater than or equal to the purchase price of your home. Please re-enter the amount How much are you planning to refinance? Current mortgage balance: $ Please enter the value of your current mortgage balance. You have entered an invalid currency amount. Please re-enter the amount. Additional funds required: $ Please enter the amount of additional funds you need. You have entered an invalid currency amount. Please re-enter the amount. The minimum amount of additional funds required to refinance your mortgage is $10,000. Consider adding additional funds or getting a personal line of credit (PLC). To apply for a CIBC PLC, please call 1-866-525-8622. New mortgage balance: $ Approximate value of your home: $ Please enter the approximate value of your home. The equity in your home must be greater than or equal to 5%. Please review the information you entered above or consider a personal line of credit (PLC). To apply for a CIBC PLC, please call 1-866-525-8622. The value of your home should be greater than your current mortgage balance. Please re-enter the amount. How much are you planning to renew? Approximate mortgage balance at renewal: $ Please enter the approximate value of your mortgage balance at renewal. You have entered an invalid currency amount. Please re-enter the amount. The mortgage balance of your home at renewal must be at least $10,000. Approximate value of your home: $ Please enter the approximate value of your home. You have entered an invalid currency amount. Please re-enter the amount. The value of your home should be greater than your approximate mortgage balance. Please re-enter the amount. How much are you planning to transfer? Approximate mortgage balance at transfer: $ Please enter the approximate value of your mortgage balance at transfer. You have entered an invalid currency amount. Please re-enter the amount. The equity in your home must be greater than or equal to 5%. Please review the information you entered above or consider a personal line of credit (PLC). To apply for a CIBC PLC, please call 1-866-525-8622. The minimum mortgage balance you can transfer is $10,000. Consider adding additional funds or getting a personal line of credit (PLC). To apply for a CIBC PLC, please call 1-866-525-8622. Approximate value of your home: $ Please enter the approximate value of your home. The value of your home should be greater than your approximate mortgage balance. Please re-enter the amount. Which of the following best describes your purchase? What is a resale home? A resale home is a house or condo that has had previous owners. It is often an older property in an established neighbourhood that you can move into right away. Resale homes are usually listed on realtor.ca. What is a new construction home? A new construction home is a house or condo that has not had previous owners, whether it has been built specifically for you or not. What is a second home? A second home is a property you purchase in addition to your primary residence. You likely plan to live here for some of the year. For example, you may work in the city and stay at your condo downtown during the week, but you spend your weekends at your second home in the country. What is a rental property? A rental property is an investment property that you rent out to tenants. Rental properties sometimes require larger downpayments than other properties. Please indicate the option that best describes your purchase. A resale home A new construction home (with a closing date less than 90 days) A new construction home (with a closing date greater than 90 days) A vacation/second home A rental property Based on the information you have provided, you are eligible to refinance up to of the total equity in your home. When is your mortgage up for renewal? Please indicate when your mortgage maturity date will take place. 4 months or less More than 4 months When it comes to interest rates, which do you prefer? A fixed rate (a rate that will not change) may be for you if: You like knowing your exact cash flow every month You feel comfortable with an interest rate that will not fluctuate with market conditions You would like your mortgage payment to remain stable throughout your mortgage term A variable rate (a rate that will fluctuate) may be for you if: You feel that you can handle fluctuations in market rates well You would like the opportunity to get a lower rate over the long term You would like the possibility of paying off your mortgage faster, if rates drop Please select the interest rate you prefer. Knowing my interest rate is secure and will not change over the term of my mortgage Knowing my interest rate will fluctuate, but could potentially be higher or lower over the term of my mortgage How long would you like to lock in your interest rate? When determining how long to lock in an interest rate, consider the following: Any expected inheritances or cash bonuses from work If/when you plan to sell your property in the future The interest rate term (the length of time you choose to lock in your interest rate) is different than amortization. Amortization is the number of years it will take to fully repay your mortgage Please indicate the length of time you would like to lock in your interest rate. Less than 1 year 1 - 2 years 3 - 5 years More than 5 years Which best describes you? What qualifies as being self-employed? You are self-employed if you operate a business or profession as a sole proprietor, principal partner (owning at least 33% of the business) in a partnership, independent contractor or consultant. For example: You're a small business owner You're an independent accountant Please indicate the option that best describes you. I am employed (wage, salary or commission based) I am self-employed I have lived in Canada less than 5 years Which of the following is important to you when considering a mortgage? Would you be interested in collecting reward points? Would you be interested in collecting reward points? Reward points and cash back are great in helping get the things that matter to you. Just keep in mind that there can be associated costs with each and this could be reflected in the interest rate you receive. Reward points are great in helping get the things that matter to you. Just keep in mind that there can be associated costs and this could be reflected in the interest rate you receive. Please indicate the option in which you would be most interested. Please indicate if you are interested in collecting reward points. Collecting reward points which can be redeemed for travel, merchandise and more Yes Yes Earning cash back on my mortgage, for renovations, closing costs, investments and more Neither No No Do you want the flexibility to borrow in the future for planned or unexpected needs? Giving yourself the flexibility to borrow money in the future can help out with unexpected or planned costs. For example, you could choose to renovate your home, consolidate your debt or make a financial investment. Please indicate if you want the flexibility to borrow again in the future without having to re-apply. Yes No What you told us: Purchasing home as primary residence Purchasing first home as primary residence Purchasing additional home/property Borrowing money using home Renewing CIBC mortgage Transferring mortgage to CIBC Approximate purchase price: Approximate downpayment: Purchasing new home (closing less than 90 days) Purchasing vacation/second home Purchasing rental property Approximate mortgage balance at renewal: Approximate value of home: Mortgage renewal 4 months or less Mortgage renewal more than 4 months New mortgage balance: Approximate value of home: Eligible to refinance of equity in home Interested in collecting reward points Reward points are important Cash back is important Not interested in collecting reward points Reward points/cash back not important Approximate mortgage balance at transfer: Approximate value of home: Purchasing new home (closing greater than 90 days) Prefer variable interest rate Prefer fixed interest rate Prefer to lock in less than 1 year Prefer to lock in 1 – 2 years Prefer to lock in 3 – 5 years Prefer to lock in more than 5 years Want flexibility to borrow in future Don't want flexibility to borrow in future You're employed You're self-employed Lived in Canada less than 5 years Based on your answers, we recommend the following: CIBC Better Than Posted Mortgage® 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 Learn More CIBC Fixed-Rate Closed Mortgage 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 Learn More CIBC Convertible Mortgage 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 Learn More CIBC Variable Flex Mortgage™ 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 Learn More CIBC's Flexible Downpayment Mortgage Options Purchase your home with as little as 5% down as a first-time home buyer. Learn more Recommendation only for new construction financing over 90 days: Request a call from a CIBC Mortgage Specialist 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. You may also be interested in: CIBC New Resident and Non-Resident Home Ownership Programs A simplified mortgage approval process for newcomers to Canada or those looking to invest here. CIBC Self-Employed Recognition Mortgage® Simplified approval process for entrepreneurs or the self-employed. CIBC AeroMortgage® Turn your mortgage payments into travel and lifestyle rewards. Up to 7% Cash Back Offer Earn up to 7% cash back based on your mortgage amount and term. Home Power™ line of credit Use the equity in your home to lower the cost of your borrowing. You can also: View CIBC Mortgage rates Calculate what you can afford View CMHC housing articles 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. * Non-cumulative and does not apply if you prepay in full. ™ Trademark of CIBC. ® Registered trademark of CIBC. ® AeroMortgage and Aeroplan are registered trademarks of Aeroplan Canada Inc. CIBC and CIBC Mortgages Inc. licensees of marks. Transfer-in and transfer-in refinances, must be from a non-CIBC lender, that is approved by CMI and charges from your existing lender may apply. No proof of income is required when all income is from the business and the self-employed applicant has been a principal owner of the same business for at least 2 consecutive years (for high-ratio mortgages applicant must be self-employed and a principal owner of the same business for at least 3 consecutive years). Conditions and restrictions apply. High-ratio mortgages (for financing over 75% and up to 95%) require default insurance through Genworth Financial Canada/CMHC. An application fee and insurance premiums apply. Available on fixed-rate mortgages only. Some provincial restrictions apply on type of mortgage products available with program. Not available on the CIBC Better Than Posted mortgage. CIBC Home Power line of credit is not available in Nunavut. Applicants must meet all CIBC lending criteria. Certain conditions and restrictions apply. Credit limit determined by CIBC, in its sole discretion. Products and their features may change at any time. This is a general description only. For more information call 1-866-525-8622. To start the application process, have a Mortgage Specialist call you within 1 business day. Shop for your home with confidence. Already have a signed offer? Apply online Call 1-866-525-8622 Visit a branch Request an Appointment with a CIBC Mortgage Specialist For general inquiries or to apply over the phone, call 1-888-381-6111 Send an e-mail Visit a branch Request an Appointment with a CIBC Mortgage Specialist

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