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Cash Back Mortgage

This is a mortgage that is offered by many lenders as an incentive to borrow from them. You will receive a payment in the form of a lump sum or perhaps a percentage of the mortgage (depending on the lender), on completion of the mortgage. If the payment is a percentage of the loan amount, the cash back amount could be significant. Make sure that you do not have to pay a higher interest rate in return for the cash back offer.