CIBC Convertible Mortgage

This is a short-term closed mortgage with a fixed interest rate and the flexibility of converting to a long-term closed mortgage at any time1.

Interested in applying for a CIBC Mortgage?

The first step is to get pre-approved.

If you already have a signed offer to purchase a property, you're ready to apply for a mortgage online, call Telephone Banking at 1-866-525-8622, or visit one of our branches.

Is it for you?

The CIBC Convertible Mortgage could be for you if any of the following apply:

• your mortgage is 50% to 75% of the home's value
• you want to minimize the risk of varying payment amounts, while keeping your options open
• you think interest rates will decrease gradually within the next six months
• you want to think about which closed-term CIBC mortgage to select and need time to decide

Useful information

• minimum mortgage amount is $10,000
• the interest rate quoted when you apply for your mortgage or
  Pre-Approval Certificate can be guaranteed for up to 90 days
• convertible to any closed-term CIBC mortgage ranging from 1, 2, 3, 4, 5, 7, 10 years without any prepayment costs

Trademarks and Disclaimers

Mortgages are offered by CIBC Mortgages Inc. All applicants must meet CIBC lending criteria. Available on single-family, owner-occupied residential properties only. Some conditions and restrictions apply.

1 Products and their features may change at any time. This is a general description only. For more information call 1-866-525-8622.

2 Available on owner-occupied residences only. Additional insurance premium applies; ask for details.

™ Trademark of CIBC.

+ CIBC Mortgage Life Insurance is underwritten by The Canada Life Assurance Company. A detailed summary of the terms, conditions, limitations, exclusions and other provisions are contained in your Certificate of Insurance, which you receive upon enrolment.