Cash Back Mortgages

Today we're talking about cash back mortgages.

Did you know that you could get cash back at the closing of your new purchase? We have lenders who offer cash back mortgages, and ultimately, they will give you a percentage of your new mortgage in the form of a cash back at closing for you to use for anything that you like.

We find that a lot of clients use a cash back mortgage to pay off high interest debt and the reason this truly benefits them is that when you're buying a new property, some outstanding debt can limit the purchase price or mortgage size that you're able to qualify for by using a cash back mortgage to pay off that debt. At closing, it will actually help you to qualify for a larger purchase price. It's a win win. There are many other terms that we can talk about, so please reach out to me if you have questions. We're always here to help.