Cash Back Mortgages

Woohoo, cash! [cha-ching] Sounds great, right?

Who doesn't love cash? But the 'cash' you get in a cash back mortgage is (for the most part) just money that you'll already be paying into the mortgage, given to you up front. In order to give you that cash, you'll pay into a higher rate, which allows the lender to yank it out ahead of time (knowing that it'll be paid back over your term).

And that's great, if you really need it for something like furniture or moving expenses. Using a 'cash back' option may provide you with instant funds at a lower interest rate compared to other borrowing options available to you, such as a HELOC or credit card.

We offer cash back on both rate types:

• Variable (adjustable) rate mortgage
• Fixed rate mortgage

For years now, we've offered cash-back options on both these rate types through our in-house lender, THINK Financial. Our expert True North Mortgage brokers can also access other lender offers to find the best cash fit for you. Certain restrictions and/or qualification requirements will apply, as per a typical mortgage approval.

You'll usually see two types of cash-back offers out there:

• Cash Promotion — a smaller amount offered as an incentive, usually offered for a limited-time
• Cash Back — we offer more flexibility in both cash amounts AND rate options compared to the 'set' offers advertised by the big banks

How much more are you paying for that cash-back?

Not all cash-back products are the same — the higher the rate, the more you'll pay over your term. At True North Mortgage, you'll have choices and flexibility in both your rate and the amount of upfront cash, depending on:

• The rate you're okay with paying
• The total amount of your mortgage loan
• The usual qualifying factors, such as down payments, income, credit standing and debts

Our salaried, highly-trained brokers have the independence to get the balance right to help you reach your mortgage goals (with cash to spare).

Flexible cash-back options, at a better rate.

Mortgages are often a pretty big financial commitment. And it's nice to have options.

Whether you want a variable (adjustable) rate or a fixed rate mortgage, tell us how much you want up front, and we can determine the best rate and product fit for your situation. No funny business, completely transparent. And with your best-possible rate to save thousands over your term.

Give us a shout for your simple mortgage process, anywhere you are in Canada. With over 15,000 5-star client reviews, we'll get it all done, with a smile.