Please note: Multilanguage sites do not provide full access to all content on CIBC.com.The full CIBC website is available in English and French.
Enter your original mortgage loan amount, not your current mortgage loan amount.
From the dropdown menu, select the percentage of your original mortgage loan amount that you can prepay without paying a prepayment charge.
The prepayment amount you can make in each calendar year without a prepayment charge.
Select your mortgage loan type from the dropdown menu.
Enter the outstanding principal balance you currently owe on your mortgage loan. Do not enter the original amount you borrowed.
Enter the dollar amount you wish to prepay. Prepayment charges apply to the portion of the prepayment that is in excess of your “annual prepayment privilege.” Note for existing clients: this calculator assumes that no prepayments have been made in the current year, and therefore the full annual prepayment privilege is available to the borrower for the purposes of projecting this charge.
Select the mortgage loan maturity date from the calendar.
Enter your current interest rate. If you have a CIBC Better Than Posted mortgage loan and are in the promotional period, enter the promotional interest rate; otherwise, enter the ongoing interest rate.
Enter a value between 0% and 99.999%. If you don’t know your “Rate discount received,” refer to your annual mortgage statement or call the CIBC Mortgage Servicing Centre at 1-888-264-6843. If your mortgage is in Quebec, call 1-800-813-1833.
If you received any interest rate discount when you entered or renewed your mortgage loan, enter the amount of the interest rate discount. If this is a CIBC Better Than Posted mortgage loan and is in the promotional interest rate period, enter the interest rate discount off the promotional interest rate. If not, enter the discount off the ongoing interest rate.
Select the frequency of your regularly scheduled mortgage loan payment from the dropdown menu.
Enter the regular principal and interest payment amount you are required to make on your mortgage loan. Do not include amounts for insurance or taxes, or any extra amounts that you pay to reduce your principal faster.
The estimate below is based on the information you provided. For a more accurate assessment, call the CIBC Mortgage Servicing Centre at 1-888-264-6843. If your mortgage is in Quebec, call 1-800-813-1833.
Based on the information you provided, your prepayment charge will be approximately . This charge is calculated based on the that exceeds the annual prepayment privilege if you were to pay down your mortgage loan on date. Please note that partial prepayments may only be made on regularly scheduled payment dates.
Based on the information you provided, your prepayment charge will be approximately , if you were to pay off your mortgage on date.
The comparison interest rate is our current posted interest rate for the mortgage loan product to which we compare your mortgage loan when we calculate your prepayment charge.
The estimated prepayment charge based on the cash back information that you have entered into the calculator.
Enter the dollar amount of any cash back you received when you entered or renewed your mortgage. This calculator assumes that you are required to repay us 100% of the cash back amount. If you are uncertain as to the terms of your cash back agreement please call us at 1-888-264-6843 (for Quebec 1-800-813-1833).
Additional costs may apply. For example: discharge, assignment or registration fees.
If you have a CIBC Home Power Plan, then this calculation only applies to the Mortgage Loan portion of the account.
The Mortgage Prepayment Calculator results are based on the information you provided and are for illustrative and general information purposes only. This calculator is not intended to provide specific financial or other advice, and should not be relied upon for this purpose. The actual prepayment charge may differ from the estimate provided. For purposes of determining the prepayment charge applicable to your mortgage, the data taken from the accounts and records of CIBC will constitute conclusive evidence of such data.
® CIBC Home Power Plan is a registered trademark of CIBC.
Canadian Imperial Bank of Commerce Website - Copyright © CIBC.