Mortgage Affordability Calculator Cibc

Actual rates may vary and will affect the maximum price of a home you can afford.

Mortgage affordability calculator cibc. This includes personalizing cibc content on our mobile apps our website and third party sites and apps. You may get a different rate if you have a low credit score or a conventional mortgage. You need this insurance if you have a high ratio mortgage and it s typically added to your mortgage principal. The mortgage affordability calculator results are estimates based on what you enter and any pre filled amounts.

Let s talk about mortgages. Get up to 3 000 when you get a mortgage with cibc. Please do not rely on this calculator results when making financial decisions. Opens a new window in your browser.

To learn more about how we do this. A mortgage is high ratio when your down payment is less than 20 of the property value. Mortgage payment amount does not include property taxes insurance premiums utilities. Find a mobile mortgage advisor.

Please visit your branch or speak to a mortgage specialist. Cibc offers a full suite of easy to use tools that will help you get everything you need all in one place. Affordability maximum affordability this is the maximum home price you can afford based on your income or combined income and expenses. Own calculator the mortgage prepayment calculator the mortgage affordability calculator the cibc mortgage selector and more.

Cibc fixed rate mortgages reduce the risk of future interest rate fluctuations by locking in a specific interest rate for the term. The mortgage affordability calculator results are based on the information you provide and assume that the annual interest rate over the life of your mortgage will not change. Your maximum affordability is also constrained by the qualifying mortgage rate set by the bank of canada. The rates shown are for insured mortgages with a downpayment of less than 20.

The maximum amortization for a default insured mortgage is 25 years. Request a call request a call. The qualifying rate requires you to qualify for a 5 year fixed mortgage rate if you seek a variable mortgage or a mortgage with a lesser term. Actual mortgage rates may fluctuate and are subject to change at any time without notice.

Calculation assumes a fixed mortgage rate. Mortgage default insurance protects your lender if you can t repay your mortgage loan. Find out how much you can afford with our mortgage affordability calculator. Mortgage programs cibc fixed rate mortgages.