This mortgage is for you if you want:

  • 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).

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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).

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Mortgage Life Insurance

In the event of death, help protect your family's home with Creditor Life Insurance for CIBC Mortgages+ provided by The Canada Life Assurance Company (Canada Life).

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