Simplii Financial Mortgage Rates
Below you'll find the best mortgage rates from Simplii Financial. Be sure to compare rates between lenders to get the best product for you.
Simplii Financial ™5.44%
Simplii Financial ™6.55%
Simplii Financial ™6.29%
Simplii Financial Mortgage Rates
|Provider||5 Year fixed||5 Year variable||3 Year fixed|
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Simplii Financial: Frequently asked questions
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Simplii Financial mortgage rates overview
Jamie David, Sr. Director of Marketing and Mortgages
Simplii Financial is the direct banking product from the Canadian Imperial Bank of Commerce (CIBC), and was only formed relatively recently, in 2017. It was formed after CIBC and Loblaws ended their co-owned President's Choice Financial brand. Along with direct, no-fee everyday banking, Simplii Financial also offers a range of residential mortgage products.
Once you've had a look at the products Simplii has to offer, use the tools at the top of this page to receive personalized quotes from multiple lenders. It's only by comparing what different lenders will offer you that you'll truly be able to understand the range of mortgages that are available to you.
Simplii mortgage products
Simplii, as the name implies, has a fairly simple lineup of mortgage products. Simple is by no means a bad thing, however.
Simplii offers fixed-rate mortgages for terms of 2, 3, 4, 5, 7, and 10 years. Fixed mortgage rates will give you a steady mortgage payment for your entire term, making them easy to budget for.
Simplii offers variable mortgage rates in just one term length, 5 years. While it's not uncommon for a mortgage provider to only offer a single variable-rate term, some of Canada's big banks do offer variable mortgage rates with shorter terms than this.
Convertible mortgages are available from Simplii Financial with either a 6-month term or a 1-year term. A convertible mortgage is a short-term fixed-rate mortgage that lets you convert to a fixed rate with a longer term at any time (i.e. without having to wait for the term to end). This additional flexibility is offset by a higher rate.
Cash back mortgages
Simplii offers cash back mortgages with term lengths of 5 to 10 years. Cash back mortgages come with fixed rates and give you a cash bonus at the beginning of your mortgage. While this may seem very attractive, cash back mortgages come with much higher interest rates that more than compensate the bank for the cash advance. It's important to be very careful when considering a cash back mortgage.
Jamie David, Director of Marketing and Head of Mortgages
Jamie has 15+ years of business and marketing experience. She contributes her mortgage expertise to The Globe and Mail and authors Ratehub’s mortgage and home buying guides. read more
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