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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 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).