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[Hot] - 1.49% Mortgage rate - 4Y Fixed, Uninsured for New or Moved mortgages

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  • Jan 24th, 2022 12:05 pm
[OP]
Newbie
Jun 6, 2017
22 posts
32 upvotes

[CIBC] [Hot] - 1.49% Mortgage rate - 4Y Fixed, Uninsured for New or Moved mortgages

I got a quote for 300k mtg for 1.49% with 1200 cash back .

Lowest I've seen from a big lender

PM me and I'll forward you my CIBC contact.
Last edited by sendsal on Dec 6th, 2020 10:47 am, edited 4 times in total.
181 replies
Sr. Member
Apr 17, 2015
674 posts
512 upvotes
Toronto, ON
Cashback only works well if you are a CIBC client already .. otherwise you'll have to leave a few $1000 to waive bank fees as the mortgage payments need to come from a CIBC account.. but u can also get $300 for becoming a new banking client/customer.
Deal Addict
Apr 13, 2006
1122 posts
216 upvotes
Mississauga
k9fire wrote: Cashback only works well if you are a CIBC client already .. otherwise you'll have to leave a few $1000 to waive bank fees as the mortgage payments need to come from a CIBC account.. but u can also get $300 for becoming a new banking client/customer.
You can theoretically change your pre-authorized to another bank after you receive the cash back, and 90 days has elapsed on the chequing account.

$4.95 x 3 = $14.85 -- to get up to $2500 in cash back.

RFD would suggest taking that every day of the week.
Jr. Member
Oct 14, 2017
131 posts
207 upvotes
Vancouver
Duplicate post.
Deal Fanatic
Nov 13, 2002
6104 posts
492 upvotes
Quebec
my cibc affiliated mortgage broker did not say anything about needing to be with cibc for the cashback.
Jr. Member
Sep 26, 2018
155 posts
368 upvotes
Guys, I would appreciated any opinion on my case

I have an existing CIBC approved application, but I haven't sign any documents with them yet, my agent said they won't honor the 1.49 rate because my application was submitted before November 27th.

Is there any chance I can cancel this application, and re-submit a new one to get this rate? Since I didn't sign anything I don't think there will be penalty, but that agent said even I cancel and re-apply, CIBC will not give me that rate

If any agent can help on this case please PM

TIA
Sr. Member
Jan 19, 2017
734 posts
790 upvotes
Kitchener
Tarabapekid wrote: Guys, I would appreciated any opinion on my case

I have an existing CIBC approved application, but I haven't sign any documents with them yet, my agent said they won't honor the 1.49 rate because my application was submitted before November 27th.

Is there any chance I can cancel this application, and re-submit a new one to get this rate? Since I didn't sign anything I don't think there will be penalty, but that agent said even I cancel and re-apply, CIBC will not give me that rate

If any agent can help on this case please PM

TIA
Brokers job to get the best rate possible. If your broker doesnt suit your needs, talk to another Broker.
Sr. Member
Feb 7, 2018
941 posts
1492 upvotes
sendsal wrote: I got a quote for 300k mtg for 1.49% with 1200 cash back .

Lowest I've seen from a big lender
Can you share details?

Is it CMHC insured? Primary residence only? Location (province/city)? Available at the counter or through broker only?

Thanks
Jr. Member
Mar 7, 2011
142 posts
129 upvotes
Ontario
stally wrote: Duplicate post.
That thread was locked and everyone referred to a 4500+ page thread with mortgage brokers.

Thanks OP, will be giving them a call!
Newbie
Dec 9, 2017
70 posts
27 upvotes
Hi there, I am looking to get a pre-approval in-place with the BF rate. Can someone please PM me with their contact? Thank you! I am taking ownership of my new home December 16th, so cutitng it close.
Sr. Member
Mar 9, 2010
870 posts
1094 upvotes
HRM, NS
TimeRunz wrote: That thread was locked and everyone referred to a 4500+ page thread with mortgage brokers.

Thanks OP, will be giving them a call!
Yeah, I didn't understand that. Totally different discussions and this is a promo/hot deal.

It's very easy to open a CIBC account to get the cash back. A no brainer really.
Sr. Member
User avatar
Oct 21, 2009
819 posts
724 upvotes
Got the deal. Bigger mortgage so more cashback was given and appraisal fees covered. Don't need to open up a cibc account for it.
Newbie
Jun 16, 2008
75 posts
10 upvotes
Vancouver
Just started with CIBC.

Cash back promo has always been the same you need to have a CIBC chequing account to receive the funds and it takes about 8 weeks to get the funds.
The larger the mortgage the more cash back you get, here is the link:

CIBC CashBack
Newbie
Oct 25, 2017
71 posts
24 upvotes
I was actually offered this rate by TD today. I didnt hear anything about the cashback part so I will definitely try for that. My rate was 1.49% for 4 years uninsured for a rental unit.
Deal Addict
Dec 28, 2006
1086 posts
1334 upvotes
My mortgage with BMO is due in 6 month and they matched the CIBC rate, so I don't need to pay the penalty for leaving them.
Newbie
Sep 20, 2016
8 posts
1 upvote
Just secured the 1.49% Black Friday deal. Dealt with a great mortgage advisor at CIBC. Please private message if you want contact details. The mtg needs to fund within 120 days from the application date is what I was advise so you can still get the offer few months after December.
Newbie
Dec 2, 2020
3 posts
2 upvotes
Give a call to Tangerine. They were able to beat Simplii (1.60% + $3,000) and gave me 1.55% + $1,500 on 5 year fixed for a renewal.
Jr. Member
Apr 18, 2010
104 posts
47 upvotes
Toronto-Central
Can anyone pm me a contact? Preferably downtown or Scarborough.

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