† Apply for a new CIBC Home Power Plan by February 28, 2018, and open the line of credit component by April 30, 2018; subject to credit approval. A $250 property valuation fee applies. CIBC may change or cancel this offer at any time without notice. Other conditions apply. Offer ends February 28, 2018. This offer is only available to applicants that do not hold a CIBC Home Power Plan at the time of application, unless the CIBC Home Power Plan to which this offer applies is not secured by the same property securing the applicant’s existing CIBC Home Power Plan.
* The offer is available to eligible first-time homebuyers and for transfers-in to a CIBC Home Power Plan on mortgages of $100,000 or more with a term of 3 years or longer on a CIBC Fixed-Rate Closed Mortgage or CIBC Variable Flex Mortgage®. You must have a personal CIBC chequing account; pre-authorized mortgage payments must come from a CIBC bank account. Application must be submitted by October 31, 2017, and must fund within 120 days of application. Qualifying clients will receive $750 on mortgage amounts of $300,000 or more or $500 on mortgage amounts of $100,000 to $299,999 in their personal CIBC chequing account 6 to 8 weeks after funding. Other conditions and restrictions apply. Ask us for details. Offer ends February 28, 2018. The offer is subject to credit approval and may be changed or withdrawn at any time.
CIBC Home Power Plan is offered by CIBC. All CIBC Home Power Plan applicants must meet CIBC’s lending criteria. Minimum borrowing amount is $10,000. Minimum equity in your home is required to qualify. Available on residential properties only. Some conditions and restrictions apply.
CIBC Prime is the variable rate of interest per year declared from time to time to be the prime rate for Canadian dollar loans made by CIBC in Canada. The interest rate on the line of credit component of your CIBC Home Power Plan will change whenever CIBC Prime varies. CIBC Prime rate was RDS%rate.PRIME.Published(null,null,null,null)(#O2#)% on RDS%SYSTEM_DATE(#M# #d#, #Y#)%. On July 16, 2018, your rate will revert to the ongoing interest rate stipulated in your CIBC Home Power Plan – Line of Credit and Mortgage Loan Terms and your CIBC Line of Credit Statement of Disclosure.
1 Access up to 80% of the appraised value of your home, or of your non owner-occupied rental properties of up to four units.
2 Automatic rebalancing of the line of credit component of your CIBC Home Power Plan may take up to 60 days and is subject to your maximum PLC rebalancing limit, as such term is defined in your CIBC Home Power Plan Agreement. The credit limit on the line of credit component of your CIBC Home Power Plan cannot exceed an approved percentage of the value of the property held as security for your CIBC Home Power Plan at time of application.