If you are a first time home buyer then a cash-back mortgage can prove really useful to you. This is a mortgage plan in which you can get as much as 5% cash-back from your down payment and expected mortgage balance payment which you can use for other priority items like the furnishing of your home, the buying of home appliances or doing home renovations.
Cash-back mortgage in Canada is in high demand, particularly by first time home buyers and with the obvious benefits, it’s no real surprise.