Ongoing Deal Discussion

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

  • Last Updated:
  • Jan 18th, 2021 10:39 pm
Tags:
SCORE
+12
18
6
Reply to ThreadReply
Dec 1st, 2020 11:16 pm
sendsal [OP]
Newbie
Jun 6, 2017
15 posts
23 upvotes

Dec 1st, 2020 11:16 pm

[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.
Share:
171 replies
Dec 1st, 2020 11:18 pm
k9fire
Member
Apr 17, 2015
474 posts
311 upvotes
Toronto, ON

Dec 1st, 2020 11:18 pm

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.
+1
Dec 1st, 2020 11:24 pm
kiz5
Deal Addict
Apr 13, 2006
1104 posts
132 upvotes
Mississauga

Dec 1st, 2020 11:24 pm

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.
+2
Dec 2nd, 2020 7:55 am
fakishan
Deal Fanatic
Nov 13, 2002
5896 posts
295 upvotes
Quebec

Dec 2nd, 2020 7:55 am

my cibc affiliated mortgage broker did not say anything about needing to be with cibc for the cashback.
+1
Dec 2nd, 2020 9:15 am
Tarabapekid
Jr. Member
Sep 26, 2018
119 posts
166 upvotes

Dec 2nd, 2020 9:15 am

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
Dec 2nd, 2020 9:50 am
rtookey
Sr. Member
Jan 19, 2017
652 posts
655 upvotes
Kitchener

Dec 2nd, 2020 9:50 am

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.
+5
Dec 2nd, 2020 9:54 am
wiab89
Member
Feb 7, 2018
282 posts
354 upvotes

Dec 2nd, 2020 9:54 am

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
Dec 2nd, 2020 10:16 am
TimeRunz
Jr. Member
Mar 7, 2011
103 posts
88 upvotes
Ontario

Dec 2nd, 2020 10:16 am

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!
+1
Dec 2nd, 2020 10:35 am
dngyn420
Newbie
Dec 9, 2017
61 posts
19 upvotes

Dec 2nd, 2020 10:35 am

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.
Dec 2nd, 2020 10:54 am
jdmhfx
Sr. Member
Mar 9, 2010
717 posts
612 upvotes
HRM, NS

Dec 2nd, 2020 10:54 am

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.
Dec 2nd, 2020 11:33 pm
meemo
Sr. Member
User avatar
Oct 21, 2009
746 posts
660 upvotes

Dec 2nd, 2020 11:33 pm

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.
Dec 3rd, 2020 12:07 am
Jamar
Newbie
Jun 16, 2008
64 posts
6 upvotes
Vancouver

Dec 3rd, 2020 12:07 am

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
Dec 3rd, 2020 12:16 am
Robocop5
Newbie
Oct 25, 2017
47 posts
13 upvotes

Dec 3rd, 2020 12:16 am

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.
Dec 3rd, 2020 12:25 am
Keny
Sr. Member
Dec 28, 2006
944 posts
915 upvotes

Dec 3rd, 2020 12:25 am

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.
Dec 3rd, 2020 1:54 pm
Schadz
Newbie
Sep 20, 2016
3 posts

Dec 3rd, 2020 1:54 pm

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.
Dec 3rd, 2020 3:42 pm
sc4545
Newbie
Dec 2, 2020
1 posts

Dec 3rd, 2020 3:42 pm

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.
Dec 3rd, 2020 5:13 pm
stayingfade
Newbie
Apr 18, 2010
81 posts
28 upvotes
Toronto-Central

Dec 3rd, 2020 5:13 pm

Can anyone pm me a contact? Preferably downtown or Scarborough.

Reply to Thread
Back to top
Top

Thread Information

There are currently 4 users viewing this thread. (3 members and 1 guest)

MrBorat, wpgdeals1482, AdnanS30330

Trending Hot Deals