Convertible Mortgages | Mortgages

Get a short-term closed mortgage with a fixed interest rate and the flexibility to convert to a long-term closed mortgage at any time.

Terms: 6-month closed

Interest rate: RDS%rate[5].CCM.rate(6_null_null_Months_T,null,1,null)(#O2#)%

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Apply online, find a branch, or call 1-866-525-8622

This mortgage is for you if you want:

A fixed rate for the duration of the term that minimizes the risk of varying payment amounts, while keeping your options open
To make additional payments and prepay up to 10% of your original mortgage amount annually
An increase in your payment amount (principal and interest) of up to 100% at anytime during the term, with the extra payment amount being applied directly to the principal, reducing overall costs
To keep your options open in case interest rates decrease in the next six months
Time to think about which closed-term CIBC mortgage you might want to switch to next

Other mortgage details:

Payment frequency options of weekly, bi-weekly, semi-monthly or monthly
Minimum mortgage amount is $10,000
Convertible to any closed-term CIBC mortgage ranging from 1, 2, 3, 4, 5, 7 or 10 years without any prepayment costs

Mortgage Disability Insurance

In the event that you are completely unable to work due to an unexpected disability, help protect your family's home with CIBC Mortgage Disability Insurance+ provided by The Canada Life Assurance Company (Canada Life).

Learn moreabout Mortgage Disability Insurance

Mortgage Disability Insurance Plus (includes job loss coverage)

In the event that you are completely unable to work due to an unexpected disability or you involuntarily lose your job through no fault of your own, help protect your family's home with CIBC Mortgage Disability Insurance Plus+ provided by The Canada Life Assurance Company (Canada Life).

Learn moreabout Mortgage Disability Insurance Plus

Mortgage Life Insurance

In the event of death, help protect your family's home with Creditor Life Insurance for CIBC Mortgages+ provided by The Canada Life Assurance Company (Canada Life).

Learn moreabout Mortgage Life Insurance

Tools and advice

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CIBC Convertible Mortgage

This mortgage is for you if you want:

Other mortgage details:

Mortgage Disability Insurance

Mortgage Disability Insurance Plus (includes job loss coverage)

Mortgage Life Insurance

Tools and advice

Let's get started