Prepare to apply

From application to closing, it's easy to get a mortgage with us. Our dedicated mortgage specialists are here to help every step of the way.

Learn

Compare

Prepare to apply

Understand the mortgage application process

Our dedicated mortgage specialists will keep you up-to-date with the status of your application.

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

Tell me more about mortgages

Check your credit history

A healthy credit score can improve your chances of getting a mortgage.

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.

Proof of employment and income:

T1 General Income Tax Return and Notice of Assessment from Revenue Canada
Copy of recent pay stubs and recent pay deposited into your bank account
T4 slip from employer
Record of previous employment, if required
Proof of additional income sources, if any

Proof of down payment and finances:

Savings or investment statements from the last 90 days
List of all current assets and liabilities
Bank account and transit number
Pre-approval certificate, if applicable
RRSP withdrawal through Home Buyers’ Plan, if applicable
Gift letter, if applicable

Proof of employment and income:

T1 General Income Tax Return and Notice of Assessment from Revenue Canada
Copy of recent pay stubs and recent pay deposited into your bank account
T4 slip from employer
Record of previous employment, if required
Proof of additional income sources, if any

Show list of documents

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.

Before you apply