Have you heard of Cash Back Mortgage? It is a mortgage where the borrower can get up to 5% of the total mortgage loan amount, after closing of the loan. However, they have higher interest rates as compared to a regular mortgage.
You can use the money you get from the mortgage for renovations to the house or any other use, that you may find worth using the loan amount. They usually have flexible repayment terms, ranging from weekly to monthly payments.
Find out more about this mortgage from our mortgage experts.
