I currently have access to a lender offering 5.5% cash-back for clients with good credit but no down payment saved.
On a $200,000 mortgage, your monthly payment would be approximately $1108 a month. The cash that would be given back to go to your down payment would total $11,000.
If you were to save up that amount, you would have to put away at least $183.34 a month for 5 years. Keep in mind that amount is on top of any rent that you would be paying as well.
If you were to take the cash-back mortgage, your mortgage balance would be reduced by approximately $15,621 over that same 5 year span. You would also be able to take advantage of the rising home prices and gain equity in your home while living in it!
This opportunity is a limited time offer through a very reputable bank.
For more information on this product or any mortgage products, please contact me today.
*Information for the cash-back mortgage is based on the posted 5 year fixed rate of 5.34% with a 30 year amortization. Please note that this is the mortgage amount and not the purchase price. All rates are subject to change.
On a $200,000 mortgage, your monthly payment would be approximately $1108 a month. The cash that would be given back to go to your down payment would total $11,000.
If you were to save up that amount, you would have to put away at least $183.34 a month for 5 years. Keep in mind that amount is on top of any rent that you would be paying as well.
If you were to take the cash-back mortgage, your mortgage balance would be reduced by approximately $15,621 over that same 5 year span. You would also be able to take advantage of the rising home prices and gain equity in your home while living in it!
This opportunity is a limited time offer through a very reputable bank.
For more information on this product or any mortgage products, please contact me today.
*Information for the cash-back mortgage is based on the posted 5 year fixed rate of 5.34% with a 30 year amortization. Please note that this is the mortgage amount and not the purchase price. All rates are subject to change.
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