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CASHBACK MORTGAGES

1%-5% Cashback Available

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Cashback mortgages are an excellent way to help pay for closing costs, pay down debts that are limiting your pre-approval amount and even help transfer your existing mortgage and pay large penalties.

There are a few things to understand about cashback mortgages. They work just like any other type of mortgage. You will pay approximately .15%-.40% more on your interest rate for each 1% of cashback you receive. For example if the lowest 5 year mortgage rate is 2.99% and you elect to receive 3% cashback. You can expect to pay .45% – 1.20% higher on your mortgage rate.

When breaking a cashback mortgage you need to understand you will have your existing mortgage penalty based on 3 months interest or the interest rate differential (IRD). In addition to the penalty you will be required to payback the cashback on a pro-rated schedule.

While these types of cashback products aren’t for everyone, they are excellent for clients who need a little help qualifying for their dream home or have an existing mortgage and want to get a lower rate & pay their penalty off.

Contact us today for more information about how a cashback mortgage can work for you!

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Peter and his team are awesome, highly recommend. – Sheila and Alun

As a REALTOR in Winnipeg, I am often asked for referrals. I never hesitate to refer Peter Paley and his team as they have never once dissappointed me. I call him the magic man because if there is a way he will find it! If someone doesn’t qualify he will help they make a plan to improve their credit score. My clients have always thanked me for giving them Peter’s name and I have always had positive feedback from them! Thanks Peter for caring so much about your clients!

D'anne Hansen - REMAX

I highly recommend Peter for any of your buyer’s and seller’s needs.
Peter’s service and knowledge in the mortgage industry is second to none. I have sent him referrals and my clients are always looked after in a prompt and very professional manner. Knowing that once I make the call to Peter helps my job as I know they will be well looked after!

Sheila Jensen – REALTOR

Peter in a word is ‘exceptional’.

The work that he did in support of financing our new home was something that is not seen very often anymore. He provided a great SERVICE. And even when the unexpected surprises came up, he figured out solutions to make it work without direct impact to ourselves.

Honestly, it was one of the best client/vendor experiences that I can remember and have to say that I consider Peter a friend after it was all said and done. Anyone considering financing a home, Peter is the one and only choice.

Thanks for everything Peter, as always.

Patrick and Lisa

I was only allowed to choose 3 attributes to describe Peter which clearly isn`t enough. I have used him for clients in the past with great results but needing him for my own financial issues is where he really met his match.
I had been turned down by my own Bank as well as my local Credit Union. My situation had been dragging out for months, thats when i turned to Peter. He had everything wrapped up within a week. Peter is creative, knowledgeable and a fantastic person… period! I highly recommend using Peter for your financial needs and will continue to recommend him to my clients. I can`t thank him enough!

Kim McConnell – REALTOR

Peter Paley and Associates were an absolute dream to work with during the buying process of our first home. I will highly recommend them to friends/family in the future. They made the entire process hassle/stress free and gave us confidence with our final decisions. If you want the best service possible, choose this business!

Mariah J.

What an awesome experience! They were so professional and efficient.. Took all the stress out of buying. So many thanks to their team!! Paula D.

I was very impressed by Peter and his team when seeking a mortgage for a non typical scenario. They were knowledgeable, helpful, polite and were a pleasure to work with. In the end I didn’t go with the mortgage solution they presented as my own bank offered a better rate but even though I believe they could have charged me for certain fees, like the appraisal fee, and I would have been ok paying it, they waived or possibly even paid the fees themselves. They said it was part of their commitment to service excellence. So we certainly had nothing to loose by exploring the option and I would recommend them to others.

Winnipeg Ger

Peter was great to work with. Answered all our questions promptly and we were very happy with the results he got us. I would recommend him!

N. Jarmuske

When looking for financing for our home Peter Paley

came highly recommended. In our time working

with him, he was a true professional, very personable and

extremely knowledgable. My wife and I would recommend

Peter to everyone…

Michael and Darlene Clark