Cash Back Mortgages
What is the Cash Back Mortgage?
When you purchase a home, you may find that you need some extra cash. A cashback mortgage allows you to borrow additional money on top of your mortgage. You receive the loan deposit when your mortgage closes. You might want to renovate, purchase furniture or simply have a cash buffer during the first few months of homeownership. Homebuyers usually choose to get a cashback mortgage in case there are any unplanned expenses after buying the home.
With a cash back mortgage, your lender advances you a cash lump sum when your mortgage closes.
- 3% Maximum Cashback in Variable Mortgage and 5% Maximum Cashback in fixed mortgage on high-ratio mortgages (less than 20% down payment)
- 5% Maximum Cashback in Conventional Mortgages (20% and more down payment)
Productive Ways To Spend Your Cashback.
Now that you understand what a cashback mortgage is, the most common reasons people want a cashback mortgage is for the following purpose
- The cashback can be used to have an emergency fund if there are any issues with their new home.
- The cashback can be used for shortfall in closing costs
- The cashback can be used to renovate your home
- The cashback can be used to pay off high-interest debt
- The cashback can be used to invest the money
- The cashback can be used to put the money into savings
Contact Us Today to understand this program!
Testimonials
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Very knowledgeable, Patient and Professional, Thank you so much for assisting in making my Family’s Dream of Home Ownership a Reality.
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- Monique
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Working with chanpreet throughout the whole selling process is very easy. He is so professional and punctual. He recently sold my property in Etobicoke. Anytime i had a question or concern, He was available for a quick call or through message. He is definitely a big recommend for anyone looking to sell a house.
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- Mandip Singh
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I would highly recommend him as he is well educated about his professional. He always did his homework before every showing and explained everything how should i move forward. He knew what i am looking for and he always been transparent with me about the property and its future prospect so whether should try to go for it or not. He always been supportive and encouraging about the deal when i was being skeptical that would i be able to get my desirable house.
Being new to canada, i hardly knew anything about real estate works but he guided me to understand how market works and what is the key details i should look for while focusing to buy. Inshort he know in and out of all what needed to crack the deals as he has entire team to work for you. He would not let you go for high prices just to win the property since it will be lose on your appreciation in future.
Cutting it short , i would definitely look forward to do more business with him as i really felt he is truely a genuine , sincere person who will try his best to get you want you are looking for.
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- Sahibjeet Singh Taneja
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This was my second time working with Chanpreet. I contacted him to help my husband and I get an investment property in Brampton. Chanpreet was an AMAZING support throughout the whole process! Thanks to his expertise, patience and professionalism, he was able to find us an investment property within our budget and preferred location. Highly recommend his service!
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- Mandeep Gill
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Chanpreet is an awesome agent to work with. He worked around our schedule to find us our dream home. He was also able to find us a best mortgage advisor, home inspector and a lawyer. Chanpreet is a great Realtor and a great negotiator. Highly recommend him!
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- Sohit Scolia
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Hi guys! I recently worked with Chanpreet on purchasing a property. I have to say that it was such a great experience! He did all the work and made it very stress free. His approach to our first time home buying experience was phenomenal, because he was so patient and not pushy like other agents. He made every step of the process very easy. Chanpreet was VERY articulate when it came to explaining things to us and very patient. All in all I was very pleased with this experience. I give Chanpreet a 10 of 10 rating, because he was sincerely an excellent agent. I would recommend him to all of my family and friends with their home buying experience. Well done Chanpreet!!! ? And thank you! ?
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- Susan
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Chanpreet helped us get the condo unit that we really like. He worked so hard to win the bidding and in very reasonable amount that within our budget. I highly recommend his service. All straight forward.
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- Winnifer Tinio
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He was there for us through every step and didn't no loose hope even when we thought it's over. Encouraged us, and helped us see through every highs and lows in each property. Best person to go ahead with!.
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- Jincy Joy
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We recently worked with Chanpreet to purchase our first property. He provided us with exceptional services. He helped us at every step, and guided us on what decisions suit us the best. I really liked how he was thorough with real estate world and how he researched for us when looking into properties. He treated us like family. We have been very lucky to work with him. I would highly recommend his services to anyone who is buying property.
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- Sunny Nagi
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Chanpreet is game changer in this tough and saturated market for first time home buyer . We are very happy and glad to get out first home/ dream home 🇨🇦. In the times like this 'he got us our first beautiful 🏠 at a decent price.
This profession needs strong relationship, communication power and sense of belonging with clients, and Chanpreet exceeds all the qualities.
We wish Chanpreet for achieving all his successful upcoming endeavors in life and we will always be connected to grow together with Chanpreet.
Best Regards and Cheers 🥂
Puneet and Ayeena
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- Puneet Chhabria
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I found him very helpful, knowledgeable and trustworthy partner in house hunting process. He was able to provide me insights in to market and any pitfalls I may encounter. This helped me in making right decision and not going overboard with my emotional purchase.
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- Ahmad Bilal Khalid
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Chanpreet is an absolute wealth of knowledge, has a very high level of professionalism, and has great ethics. I do not think we would have been able to purchase a property in this “crazy market” (as Chanpreet bhaji calls it) without him. From searching new listings, taking to house tours, and submitting offers, he got us our dream house in Breslau. Couldn’t be happier! He was there with us in our whole journey motivating us every step of the day.
I would highly recommend and will most likely consult with him again in the future. He was the only one who listened to our liking and consider them in following house hunting.
Thanks very much, Chanpreet!
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- Gurjot Singh
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Chanpreet is a great guy to work with. He helped us find a place that's on our budget. He treated us not just like a client but a friend. He educated us as well. God really works mysteriously because he gave us Chanpreet and it is true that things happen for a reason!
Thank you Chanpreet.
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- Dan Trespeces
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We came across Chanpreet ji online and just decided to speak to him on instinct since we were still shopping around to understand the market and had already exhausted the contacts we knew - friends and referrals. Right from the beginning, his consistent professionalism got to us - he presented things just as they were, was honest and up front and didn't give us any false hopes. We trusted our instincts and decided to give him a chance. He went all out to not only accommodate our requirements, but also give us the pros and cons of every property we visited. He pointed out the negatives instead of pushing us to go for it, however impossible the market. Thank you, Chanpreetji, for all the assistance and guidance you provided to us as first-time buyers. We are glad we came across your handle on Social Media and contacted you from all the names which showed up in the ads. It was meant to happen right from the start and you made it a positive process. Thank you and all the best.
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- Shaheen Kapadia
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Chanpreet did an absolutely amazing job assisting us with selling our house. He was professional and friendly, provided guidance and was very responsive to our needs. I HIGHLY recommend using Chanpreet for all your real estate needs, he really cares about his clients and their families. -
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- Joban Aulakh
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Chanpreet is the best realtor you can ever get. He treats you more like a family than a client explaining in detail of all the pros and cons of every potential property and gives you all the information necessary to decide if you want to proceed with it or not. He is extremely patient and will make sure he takes his time to get you the property you are absolutely satisfied with. His support extends even after the deal is done and will be there to answer any questions at anytime and I mean literally anytime. If he has the time to take you as a client, you are blessed. We had a great experience and would highly recommend him for anyone in the market who is looking to buy/sell a property. Thanks a lot for your service Chanpreet we are very glad to have found you. Hope to do a lot more of business with you in the future. Good luck!
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- Dilip Kishore
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We got our first home with Chanpreet and I must say he was very polite and helpful with all the queries we had. Even after closing the house he still answer to all of our concerns. He has great knowledge in Real Estate and very Professional. I am 100% satisfied with his work and knowledge in Real Estate and look forward to work with him in the future.
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- Aly Akbar
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Chanpreet is an excellent Realtor. I recently moved from Saskatchewan and i met Mr. Singh at his office in Mississauga. I am highly impressed with his real estate knowledge and his strong character. He was able to find us a brand new house in Georgetown. He has a great team (Lawyer, inspector etc). I would Highly recommend his service.
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- Paramjit Singh
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Just closed my first with Chanpreet and I must say, he’s very dedicated, actively listens, doesn’t cut corners and that’s his time to satisfy he’s customers. I definitely would recommend him to everyone. If you are looking for an agent, look no further, you found the best guy already. Just give him a call.
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- Haleema
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I adore Chanpreet for his work, we just found our dream house in our budget when everyone saying no to us that, in this range you can't find a house with garage and backyard, but he found for us in the main city. Thanks chanpreet you did great
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- Rija Ikhlaque
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What a great agent Chanpreet is. I am glad i got in touch with Chanpreet and his team for my home sale process. He provides outstanding service and offered great advice throughout the process of selling our house. Even in this market he was able to sell our property for full asking price in just 3 days and we could not be happier with our entire experience. I definitely suggest Chanpreet to everyone!
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- Sumit Mahey
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He is the best guy in this industary. He helped us to found our dream house in affordable price. He is very hard working, polite and honest guy. He found the house very soon for us. I will give him 10/10 for his service. Thanks very much Mr Chanpreet Singh for this help
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- Goldy Dhillon
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Chanpreet is great to work with. I highly recommend him if you want to find a house with no stress. Thank you!
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- Farai Tangwanda
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Awesome purchase experience with no stress at all. Very polite, detail and time oriented. Chanpreet helped me with the purchase of my first house recently. He is a very thorough professional. Working with him is a seamless experience. Chanpreet is very responsive, trustworthy and knowledgeable real estate professional. I would highly recommend chanpreet to anyone looking to make a smart purchase/sale.
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- Harry Bajwa
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
