A fixed rate for the duration of the term that minimizes the risk of varying payment amounts, while keeping your options open
To make additional payments and prepay up to 10% of your original mortgage amount annually
An increase in your payment amount (principal and interest) of up to 100% at anytime during the term, with the extra payment amount being applied directly to the principal, reducing overall costs
To keep your options open in case interest rates decrease in the next six months
Time to think about which closed-term CIBC mortgage you might want to switch to next
Other mortgage details:
Payment frequency options of weekly, bi-weekly, semi-monthly or monthly
Minimum mortgage amount is $10,000
Convertible to any closed-term CIBC mortgage ranging from 1, 2, 3, 4, 5, 7 or 10 years without any prepayment costs
Mortgage Disability Insurance
In the event that you are completely unable to work due to an unexpected disability, help protect your family's home with CIBC Mortgage Disability Insurance+ provided by The Canada Life Assurance Company (Canada Life).
Mortgage Disability Insurance Plus (includes job loss coverage)
In the event that you are completely unable to work due to an unexpected disability or you involuntarily lose your job through no fault of your own, help protect your family's home with CIBC Mortgage Disability Insurance Plus+ provided by The Canada Life Assurance Company (Canada Life).