CIBC Mortgage Payment Calculator
Get a sense for your mortgage payments, the cash you'll need to close and the monthly carrying costs with Ratehub.ca’s mortgage payment calculator.
Estimate your CIBC mortgage payments
Your CIBC mortgage payments are determined by the following factors:
- The purchase price or renewal amount
- Your down payment (if purchasing a new home)
- The amortization period
- Your mortgage rate
Enter these numbers into the mortgage calculator to get your estimated mortgage payment.
About CIBC’s Mortgage Rates
CIBC has a variety of mortgage options:
CIBC Wealth Builder Mortgage—This is a fixed-rate closed mortgage with a term of three, four, five, seven or 10 years, which provides cash up front and throughout the term of your mortgage. This cash can then be used to increase your savings. This mortgage is targeted to you if you’d like to continue to increase your savings but need to take out a mortgage.
CIBC Home Power Mortgage—This mortgage allows you to use your home equity to borrow additional funds. You’re able to borrow up to 80% of your home’s value.
CIBC Self-Employed Recognition Mortgage—This mortgage is designed for you if you’re self-employed as you’re not required to prove your income. To receive this mortgage, you must have 35% equity and have an approved personal credit history.
CIBC New Resident and Non-Resident Mortgage—This mortgage is for you if you’re a new resident, a foreign worker, an international student, or a non-resident.
CIBC Cash Back Mortgage—This mortgage provides you with up to 5% cash back (cash-back mortgage rates are higher than other mortgages and aren’t recommended as they are riskier for everyone involved).
Searching for lower payments
Compare rates from other banks and mortgage brokers against CIBC to find the lowest mortgage rate. You may also want to increase the size of your down payment or the length of the amortization period of your mortgage as both of these solutions will decrease your mortgage payments.
Compare current mortgage rates across the Big 5 Banks and top Canadian lenders. Take 2 minutes to answer a few questions and discover the lowest rates available to you.
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