CIBC Fixed-Rate Closed Mortgage
How does it work? Here’s an example.
Enjoy a low rate of 1.99% for the first 9 months of a 4-year fixed-rate mortgage.
Then, get a great ongoing rate of 2.96% for the rest of your term.
Your payment is reduced by: $133 per month for 9 months
These lower payments will give your cash flow a boost – apply the money to your principal and pay down your mortgage faster!
A fixed-rate closed mortgage allows you to:
- Always know exactly what your mortgage payment will be, no matter how interest rates change
- Prepay up to 10% of your original mortgage amount annually
- Increase your payment at any time, up to 100% of your regular amount
Looking for insurance coverage for your mortgage? CIBC’s got the right option for you.
Did you know you can get a low interest line of credit with your mortgage? Check out the CIBC Home Power Plan®.
Payment frequency options:
weekly, bi-weekly, semi-monthly or monthly
Minimum mortgage amount:
Calculate your monthly mortgage payment
APR 2.79%, based on a 4-year fixed-rate term.
* Ongoing rate is current as of March 2, 2015.
APR of 2.79% is calculated based on an introductory rate of 1.99% for 9 months on a $275,000 mortgage, an ongoing rate of 2.96% and a 25 year amortization, assuming a property valuation fee of $250. Mortgage application must be made by June 30, 2015; mortgage must fund within 90 days of application date. Only available on mortgages of $10,000 or more; subject to credit approval. Other conditions apply; ask for details. CIBC may change or cancel this offer at any time without notice.