CIBC mortgage calculator
Estimate the payment on a CIBC mortgage at the rate on your quote, then check CIBC's own published rules for prepaying, porting and breaking the mortgage. Independent tool — not affiliated with CIBC.
Your scenario
Result
The starting rate of 4.84% is illustrative, not a CIBC rate — enter the rate on your own quote. Mortgage360 is an independent platform, NOT affiliated with CIBC.
Rules checked: September 2026. Sources: CIBC: prepayment · CIBC: mortgage FAQ
About CIBC
CIBC is one of Canada's Big Five banks. Its prepayment allowance depends on the mortgage product you choose.
CIBC prepayment privileges
CIBC allows an annual lump-sum prepayment of 10%, 15% or 20% of the original amount depending on the product, and lets you increase your regular payment by up to 100% of the original payment at any time. Model what a lump sum does to your amortization in the prepayment savings calculator.
Porting a CIBC mortgage
A portability option may let you move your term, principal and maturity date to a new property. CIBC notes that not all mortgage terms are portable.
How CIBC calculates the penalty to break
Fixed: the greater of three months' interest or an IRD that compares your rate plus any discount you received against CIBC's current posted rate for the comparison mortgage. Variable: three months' interest calculated at CIBC Prime. Estimate the difference between the two methods in the mortgage penalty calculator.
What that means for you
CIBC's variable-rate penalty is calculated at Prime rather than your discounted rate, so it runs a little higher than three months at your own rate. Check whether your specific term is portable before you assume you can take it with you.
How this calculator works
Canadian fixed-rate mortgages state their rate compounded semi-annually, not in advance — the convention that follows from section 6 of the federal Interest Act. The calculator converts the rate you enter into the equivalent rate for your payment frequency, so monthly, bi-weekly and weekly results stay consistent. Accelerated bi-weekly pays half the monthly amount every two weeks, which adds the equivalent of one extra monthly payment a year.
Sources
Checked September 2026. Lenders change their terms; your commitment letter is what binds you.
Compare with other lenders
Prepayment and penalty rules differ more between lenders than rates do. Compare the published terms of other Canadian lenders:
- TD Canada Trust mortgage calculator
- RBC Royal Bank mortgage calculator
- Scotiabank mortgage calculator
- BMO Bank of Montreal mortgage calculator
- National Bank of Canada mortgage calculator
- First National Financial mortgage calculator
- MCAP mortgage calculator
- Merix Financial mortgage calculator
- Manulife Bank mortgage calculator
- Desjardins mortgage calculator
Renewing or refinancing with CIBC?
A renewal offer is usually negotiable, and since November 2024 a straight switch to another lender at renewal no longer requires passing the stress test again. Put the offer against a competing quote in the renewal comparison calculator.
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