What is a "Cash Back" mortgage?

You give up your discounted rate to get a rebate up front. This rebate varies with each lender and the term chosen. A cash back mortgage can be helpful if you find that:

• Funds are short during the first or second months and you need a little extra.
• You need to pay for legal fees
• Moving expenses, etc.

How does it work, and will it end up costing more in the end? These and other questions can be explained in greater detail by contacting a broker in our office.