Understand the mortgage application process
Create a budget and start saving
- Save money for your down payment
- Calculate how much you can afford using our mortgage affordability calculator
- Budget an extra 2 to 4% of the purchase price for closing and other costs
Check your credit history
A healthy credit score can improve your chances of getting a mortgage.
Not yet ready to apply? We're here to help you understand your options.
What we look for
- Established credit history
- Stable source of income
- Debt-to-income ratio
How we let you know
We'll reach out to you by phone to discuss your application and outline next steps.
Protect your investment
Protect one of your family’s biggest assets with Mortgage Life Insuranceⓘ. It helps with paying off or reducing your mortgage loan if you were to pass away.
Mortgage Life Insurance is underwritten by The Canada Life Assurance Company (Canada Life). Purchase of this insurance is optional and isn’t required to obtain any CIBC product or service.
Gather all required documents
Your mortgage specialist will let you know what documents to provide. They can include proof of income, down payment and finances, among others.
What you'll receive
Your mortgage specialist will reach out to you and provide a mortgage commitment letter. They'll also outline any remaining details.
Things to do before closing
- Review all loan documents, forms and paperwork
- Make sure you have money saved for closing costs
- Meet with your lawyer to sign any final documents
How to manage your mortgage
Register and sign on to Simplii Financial™ Online Banking or the Mobile Banking App to manage your mortgage. Your mortgage specialist will contact you when it's time to renew.
How to apply for a mortgage
Request a mortgage pre-approval
Don't miss out on your dream home. Make an offer with the comfort of knowing how much you may qualify for.
Lock down your rate for 120 daysⓘ on select fixed rate mortgages
Submit an application
Already found your new home? It's easy to start the application process online.
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Get to know our great rates and mortgage products
Find out what documents you need for a mortgage
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