CIBC Fixed-Rate Closed Mortgage
This mortgage offers you the security of a fixed interest rate, so you'll always know exactly what your payments will be1.
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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. |
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| Terms | 1, 2, 3, 4, 5, 7 or 10 year closed | |
| Interest rate | fixed rate for a term | |
| Make additional payments | Prepay up to 10% of your original mortgage amount annually. | |
| Increase your payment amount | Your original mortgage payments (principal and interest) can be increased by up to 100% anytime during the term. The extra payment amount is applied directly to the principal, reducing overall costs. | |
| Amortization Period | You now have the option of taking up to 35 years to pay off your mortgage, which can improve your cash flow.2 | |
Is it for you?
The CIBC Fixed-Rate Closed Mortgage could be for you if any of the following apply:
- Your mortgage is over 80% of the home's value
- You operate on a tight budget
- You want the security of knowing your mortgage payments will be unaffected by changing interest rates
- You want to lock into a specific interest rate for the full term of your mortgage
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 - Makes budgeting easy, because you know exactly what your mortgage payment will be for the term
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.
+ 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.
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