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 from banks, typically 0.6% to 1% of the loan value, offered to new buyers or those refinancing.
This incentive comes with a crucial condition: a clawback period of 3-4 years. If you sell, repay your loan, or refinance within this time, you must repay a portion of the cash.
To compare offers, calculate the total loan cost over the clawback period and subtract the cashback amount. A mortgage broker can help you navigate the terms.
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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