1 To qualify for a Home Power Mortgage, you must have at least 20% equity in your home and borrow at least $10,000. You can access up to 80% of your home's appraised value. Legal fees apply. Additional conditions and restrictions apply; ask for details.
2 Less what you currently owe on your home, or other encumbrances
3 The CIBC Home Power Plan is not available in Nunavut. Minimum borrowing amount is $10,000. Minimum equity in your home is required to qualify for the Home Power Plan.
4 Automatic rebalancing of your CIBC line of credit may take up to 60 days and is subject to the Maximum PLC Rebalancing Limit. The Home Power Plan limit cannot exceed an approved percentage of the value of the home at time of application.
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The information in this article is general only; it is not intended as specific investment, financial, accounting, legal or tax advice for any individual.