This mortgage is for you if you want:
- Freedom from your mortgage faster with higher prepayment benefits that allow you to prepay up to 20% of your original mortgage amount annually
- An increase in your payment amount (principal and interest) of up to 100% of your original regular payment amount at anytime during the term2, with the extra payment amount being applied directly to the principal, reducing overall interest costs. Some conditions apply.
- The option of converting into a fixed rate closed mortgage that we offer at the time of conversion with a term of 3 years or more at any time
- Fluctuating interest rates that could potentially be higher or lower over the term of your mortgage
Other mortgage details:
- Payment frequency options of weekly, bi-weekly, semi-monthly or monthly
- Minimum mortgage amount is $10,000
Mortgage Life Insurance
Mortgage Life Insurance coverage+ for CIBC mortgages3 is optional creditor’s group insurance that can help pay down or pay off your mortgage in the event you pass away.
Learn more about Mortgage Life Insurance.
Mortgage Disability Insurance Plus (includes job loss coverage)
Mortgage Disability Insurance Plus coverage+ for CIBC mortgages3 is an optional creditor’s group insurance coverage that can help you with your mortgage payments if a disability prevents you from working or when you lose a job through no fault of your own.
Learn more about Mortgage Disability Insurance Plus.
Mortgage Disability Insurance
Mortgage Disability Insurance coverage+ for CIBC mortgages3 is an optional creditor’s group insurance coverage that can help you with your mortgage payments if a disability prevents you from working.
Learn more about Mortgage Disability Insurance.
Mortgage Critical Illness Insurance
Mortgage Critical Illness Insurance coverage+ for CIBC mortgages3 is optional creditor’s group insurance coverage that can help pay down or pay off your mortgage balance, in the event of a covered cancer, acute heart attack, stroke or if you undergo coronary artery bypass surgery.