CIBC Farm Mortgage Loan
no fixed amount
Loan
Description:
The CIBC Farm Mortgage Loan is designed to help eligible applicants grow their farm business. They can use their CIBC Farm Mortgage Loan to finance the purchase of land & buildings, construction or major renovations of farm buildings, and to restructure farm loans.
Comments on Funding:
1. Funding is a mortgage loan, with a minimum loan amount of $25,000.
2. Applicants can choose either a variable or a fixed interest rate.
3. This program allows eligible applicants to prepay any amount at any time on their variable rate.
4. This program allows eligible applicants to prepay up to 10 % of the original principal amount of their fixed rate on any anniversary date of their loan.
5. Loans repayment can be fixed for 1, 2, 3, 4, 5, 7 or 10 years.
6. Interest is calculated semi-annually, not in advance on the fixed rate option.
Rolling deadline
Eligibility:
Applicants must be farm businesses.
Application Steps:
To apply or get more information about CIBC Farm Loans, applicants must talk to a CIBC business advisor or visit a CIBC Banking Centre.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
