# Mortgage Incentives: Cashback Offers Explained

> Banks offer cash rebates on new mortgages, but conditions may limit savings.
- Title: Mortgage Incentives: Cashback Offers Explained · Financialpost
- Summary: Banks offer cash rebates on new mortgages, but conditions may limit savings. Banks provide cash rebates for new mortgages, but eligibility and fees vary.
- Keywords: mortgage, cashback, bank, rebate, new mortgage, money, business, Incentives, Offers, Explained, Financialpost
- Source: Financialpost — https://financialpost.com/real-estate/mortgages/not-all-cashback-other-incentives-worth-it
- Read time: 1 min
- Topics: mortgage, cashback, bank, rebate, new mortgage, money, business
## Mortgage Cash Rebates
Banks offer cash rebates on new mortgages to attract borrowers.
## Current Cashback Offers
BMO offers $2,100, CIBC $2,000, National Bank $1,500, Scotiabank up to $1,000, TD Bank $1,500, RBC $1,500.
## Extra Incentives
National Bank adds $1,000 for first-time buyers with 30-year amortization, RBC adds $500 for first-time buyers.
## Conditions and Fees
Banks attach conditions like switch costs, HELOC add-ons, and fees that may reduce savings.
## Key takeaway

Banks provide cash rebates for new mortgages, but eligibility and fees vary.