New Cash Bonus Program
2024-04-25 | 05:54:02
What you need to know
Cash Bonus Offer:
Note: the application must be submitted before October 1, 2024 and close on or before October 31, 2024, in order to qualify for this offer.
The offer is available for a 3-year closed fixed, variable, or adjustable term or longer.
What you need to know Cash Offer:
- Purchase, Refinance and Transfer-in customers can benefit from a cash bonus of up to $5,000 based on the amount of *new funds borrowed. Customers who opt for a Mortgage OR a combined Home Equity loan with a Term Portion that meet the requirements are eligible for the cash bonus offer!
- The requirements are:
- Selecting a Mortgage or a Term Portion on a new mortgage that:
- Has a minimum three-year closed term
- Has a minimum, new principal amount of $100,000
- YOUR CASH BONUS, will be deposited into your bank account within 30 days of the funding date.
Cash Bonus is currently available through one of our bank partners. You must open a bank account through the bank partner and use this account for mortgage payments in order to be eligible for the cash bonus offer.
Qualified Applicants only may receive a Cash Bonus, subject to lender requirements. Cash Bonus program is subject to Lender participation. The bank may end their participation without notice.
*New funds requirement is for any borrower who may be an existing borrower with our bank partner (that is part of the program). Example – Refinance or a ported mortgage adding $100,000 in a term portion to the existing mortgage. The Cash Bonus applies to the new added amount only.
Bank Partners' Cash Bonus Structure
|
Borrowing Amount |
Cash Bonus |
|
$100,000 - $299,999 |
$500 |
|
$300,000 - $499,999 |
$1,100 |
|
$500,000 - $749,999 |
$2,100 |
|
$750,000 - $999,999 |
$3,100 |
|
$1,000,000 + |
$5,000 |
Borrowers may use the Cash Bonus for anything they like. Existing debts, paying down the mortgage, contributing to RRSP or RESP savings and more.
