Which Mortgage Offer should you choose: Mortgage Cash Back or Special Rate?

Couple Applying for a Mortgage

Cambrian is committed to providing the best value in banking for our members.  But everyone’s situation is different.

That’s why we have two great mortgage offers in market right now:

Both are great offers! So how do you decide which offer is best for you?

Do you need cash now?

With Cambrian’s Mortgage Cash Back offer, qualifying residential mortgages will receive up to $3,000 Cash Back when their mortgage is funded.

For first time home buyers, or people upgrading to a larger home, this cash back could be useful to buy new furniture, decorate or renovate or to build up your savings for future projects.

For individuals wanting to switch their mortgage to Cambrian, the cash back could be put towards any penalties that may need to be paid to the existing financial institution in order to end your mortgage term early.

Would you rather have lower mortgage payments?

A lower interest rate means your mortgage payments will be lower. Therefore, instead of getting the savings up front in cash back, you would save on each payment over the term of your mortgage.  That extra cash flow could be put towards other expenses, such as debt payments or your savings.

If you have a mortgage at another financial institution, switching over to our Special 5-year Rate would save you money in the long run, even if you have to pay a penalty to end your mortgage term early.

Which offer is best for you?

We designed our two mortgage offers so that they would have similar net costs to you over the term of the mortgage. Use our Mortgage Comparison Calculator to compare both offers.

It really comes down to whether you prefer receiving a lump sum cash payment up front or you prefer to have savings over the term of your mortgage with lower payments.

The greatest part is that the choice is yours!

Learn more about Cambrian’s mortgage offers