CIBC Home Power Plan

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Your all-in-one borrowing solution

Combine a mortgage with a home equity line of credit to enjoy ongoing access to funds at a low interest rate.

Get pre-approved

Apply online, find a branch, or call 1-866-525-8622

Discover the key benefits

Be prepared for anything that comes your way with the ability to:

Manage your mortgage and line of credit under one plan

Use the value of your home to borrow money

Access your line of credit at any time

Only pay interest on the amount you use

Borrow up to 80% of the value of your home¹

With the CIBC Home Power Plan, you could borrow as little as $10,000 secured against your home equity.

Plus, as you pay down your mortgage, your line of credit will automatically increase².

Find the mortgage that best suits you

CIBC Fixed-Rate Closed Mortgage

You’ll always know exactly what your payments will be. You can choose terms of up to 10 years and can prepay up to 10% annually.

Learn more

CIBC Variable Flex Mortgage^®

Take advantage of competitive interest rates. You’ll have the option to pay down your mortgage faster with pre-payment privileges of up to 20%.

Learn more

Compare all mortgage rates

Ready to apply for a CIBC Home Power Plan?

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Call us:
1-877-376-1426

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* Offer available for mortgages transferred in from another financial institution to a CIBC Mortgage or CIBC Home Power Plan on mortgages of $100,000 or more with a term of 3 years or longer on a CIBC Fixed-Rate Closed Mortgage or CIBC Variable Flex Mortgage. You must have a personal CIBC chequing account; pre-authorized mortgage payments must come from a CIBC bank account. Application must be submitted by February 28, 2019, and must fund within 120 days of application. Qualifying clients will receive $1,000 on mortgage amounts of $300,000 or more or $750 on mortgage amounts of $100,000 to $299,999 in their personal CIBC chequing account 6-8 weeks after funding. Other conditions and restrictions apply. Ask us for details. Offer ends February 28, 2019. Offer subject to credit approval and may be changed, withdrawn or extended at any time, without notice.

^† CIBC Prime is the variable rate of interest per year declared from time to time to be the prime rate for Canadian dollar loans made by CIBC in Canada. CIBC Prime rate was RDS%rate[1].PRIME.Published(null,null,null,null)(#O2#)% on RDS%SYSTEM_DATE(#M# #d#, #Y#)%. The interest rate on the line of credit component of your CIBC Home Power Plan will change whenever CIBC Prime varies. On July 22, 2019, your rate will revert to the ongoing interest rate stipulated in your CIBC Home Power Plan – Line of Credit and Mortgage Loan Terms and your CIBC Line of Credit Statement of Disclosure. Apply for a new CIBC Home Power Plan by February 28, 2019, and open the line of credit component by April 30, 2019; subject to credit approval. This offer is only available to applicants that do not hold a CIBC Home Power Plan at the time of application, unless the CIBC Home Power Plan to which this offer applies is not secured by the same property securing the applicant’s existing CIBC Home Power Plan or Home Power Line of Credit. A $250 property valuation fee applies. Other conditions apply. Offer ends February 28, 2019. CIBC may change or cancel this offer at any time without notice.

CIBC Home Power Plan is offered by CIBC. All CIBC Home Power Plan applicants must meet CIBC’s lending criteria. Minimum borrowing amount is $10,000. Minimum equity in your home is required to qualify. Available on residential properties only. Some conditions and restrictions apply.

¹ Access up to 80% of the appraised value of your home, or of your non owner-occupied rental properties of up to four units.

² Automatic rebalancing of the line of credit component of your CIBC Home Power Plan may take up to 60 days and is subject to your maximum PLC rebalancing limit, as such term is defined in your CIBC Home Power Plan Agreement. The credit limit on the line of credit component of your CIBC Home Power Plan cannot exceed an approved percentage of the value of the property held as security for your CIBC Home Power Plan at time of application.

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CIBC Home Power Plan

Your all-in-one borrowing solution

Discover the key benefits

Borrow up to 80% of the value of your home¹