Buying guide
Home loan cash back: a guide for home buyers & refinancers
Beware the free money
AI summary
Home loan cashback is a cash payment, typically 0.6%-1% of your loan value, offered by banks to attract new buyers or those refinancing from another lender. This lump sum is provided on settlement day.
However, all offers include a "clawback period" of around 3-4 years. If you sell, repay, or refinance within this time, you must repay a portion of the cashback. Always compare loans by calculating the total cost over the clawback period minus the cashback amount.
How much is home loan cashback?
Examples of cash back amounts (0.8% cashback)
(This is just an example - actualy cashback ammounts may vary)
What can I do with the cash?
Who’s eligible for a home loan cash contribution?
Cashback can make a big difference.
Beware the claw back period
How to compare loans with mortgage cashbacks
Can I get a mortgage cashback if I already have a mortgage?
Have you refinanced to get cashback lately?
Are mortgage cashbacks worth it?
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