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.
Featured
Simplii Financial â„¢
4.09%5-yr Fixed
Featured
Simplii Financial â„¢
4.45%5-yr Variable
Featured
Simplii Financial â„¢
6.64%3-yr Fixed
Simplii Financial Mortgage Rates
Rates updated:
| Provider | 5 Year fixed | 5 Year variable | 3 Year fixed |
|---|---|---|---|
Best market rate | 3.84% | 3.95% Prime -1.00% | 3.89% |
4.51% | 4.53% Prime -0.42% | 4.29% | |
4.59% | 4.35% Prime -0.60% | 4.64% | |
4.34% | 4.69% Prime -0.26% | 4.34% | |
4.09% | 4.45% Prime -0.50% | 4.29% | |
4.09% | 4.45% Prime -0.50% | 6.64% | |
4.49% | 4.55% Prime -0.40% | 4.44% |
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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.
Fixed-rate mortgages
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.
Variable-rate mortgages
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
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 homebuying guides. read full bio
About Ratehub.ca
Whether you need a mortgage, credit card, savings account, or insurance coverage, we help you find and compare the best financial products for your specific needs.
When it comes to mortgages, Ratehub.ca is more than just a place to research and compare the best rates. Our goal is to give Canadians the best mortgage experience from online search to close. This means offering Canadians the mortgage tools, information and articles to educate themselves, allowing them to get personalized rate quotes from multiple lenders to compare rates instantly, and providing them with the best online application and offline customer service to close their mortgage all in one place.
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Financial institutions pay us for connecting them with customers. This could be through advertisements, or when someone applies or is approved for a product. However, not all products we list are tied to compensation for us. Our industry-leading education centres and calculators are available 24/7, free of charge, and with no obligation to purchase. To learn more, visit our About us page.
How are CanWise Financial and Ratehub.ca connected?
We own and operate a mortgage brokerage, Ratehub.ca (formerly known as CanWise Financial), and are compensated for mortgages funded through our brokerage. Ratehub Inc. o/a Ratehub.ca & CanWise is a licensed mortgage brokerage and CMHC-approved lender. When comparing mortgage rates on Ratehub.ca, you’ll see rates from a number of lenders, including CanWise. All products are sorted according to the rates available to you and the selection criteria you’ve shared with us. Both Ratehub.ca and CanWise are owned and operated by Ratehub Inc.
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