CIBC Self-Employed Recognition Mortgage®
This mortgage makes it easier for you to buy a home if you're self-employed. Our simplified approval process is designed specifically to meet the unique needs of entrepreneurs. You'll benefit from a range of mortgage products with built-in flexible options and less paperwork.
We recognize that the self-employed have traditionally faced greater scrutiny in qualifying for mortgage financing. That's why CIBC has streamlined the mortgage approval process to ensure our self-employed customers receive the respect and credit they deserve when applying for a mortgage. Approval is based on your self-declared income, strong equity and excellent personal credit history. Best of all, you don't need to prove your income1. If you're self-employed, and you have 25% equity (or 5% equity for a high-ratio mortgage2), this mortgage can provide an ideal solution for your home financing needs.
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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 1-800-465-2422, or visit your CIBC branch and speak with a business advisor today. |
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Key benefits
| Simpler application | You don't need any detailed financial statements or income verification1 - so that means less paperwork and less hassle for you. |
| Easier approval process | Your approval is based on your personal credit history, not your business history. That makes your approval process straightforward and efficient. |
| Variety of mortgages | You may choose from various mortgage product options to get the one that best suits your needs. |
This mortgage is available:
- across Canada*
- on residential single-family, owner-occupied properties
- in conventional (uninsured) or high-ratio (insured) format
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. Products and their features may change at any time. This is a general description only. For more information call 1-866-525-8622.
1 No proof of income is required when all income is from the business and the self-employed applicant has been a principal owner of the same business for at least 2 consecutive years (for high-ratio mortgages applicant must be self-employed and a principal owner of the same business for at least 3 consecutive years). Conditions and restrictions apply.
2 High-ratio mortgages (for financing over 75% and up to 95%) require default insurance through Genworth Financial Canada/CMHC. An application fee and insurance premiums apply. Available on fixed-rate mortgages only.
* Some provincial restrictions apply on type of mortgage products available with program.
+ 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.
Products and their features and costs may change at any time. This is a general description only.
® Registered trademark of CIBC.
Copyright® 2008 Canadian Imperial Bank of Commerce. All rights reserved.