A cash back mortgage gives you cash upfront to help you with your home purchase. The amount of cash you receive is a certain percentage of your mortgage principal, and can help pay for closing costs, moving or unforeseen expenses. In some cases, the cash back can be used for your downpayment.
Qualified homebuyers should take a look at cash back opportunities while they are still available. Why? A cash back mortgage can help you get into your home now, saving potentially thousands in rent, and giving you a jumpstart on building wealth. And you can take advantage of today’s historically low fixed-mortgage rates.
A cash back mortgage is not for everyone but if you have a stable income, good credit and the ability to comfortably handle your monthly mortgage payment and ongoing housing expenses, you could become an owner instead of a renter.
Team Cara Savege can review your situation and help you determine if a cash back mortgage is the right financial decision for you!