CASH BACK
Cash Back Mortgage
Unlock Instant Client Value with the Nesto Cashback Mortgage. Empower your clients with immediate post-closing financial flexibility through Nesto’s Cashback Mortgage. They receive 1% of their loan amount, up to $13,750, within days of funding, providing a powerful tool for moving costs, renovations, or any other homeownership need.
Give your clients the freedom to boost their cash flow right after closing. With nesto’s Cashback Mortgage, referred clients receive 1% of their loan amount, up to $13,750, within days of funding. Unlike a cashback mortgage product that pays out at closing to meet qualification needs, this offer is designed for post-purchase flexibility. Clients can use their cash for moving costs, renovations, new furniture, or anything else that enhances their homeownership experience. Pairing our low rates with a predictable, no-tier cashback payout makes nesto’s Cashback Mortgage a simple, powerful solution that helps you deliver more value to every client.
Benefits of the nesto Cashback Mortgage:
- Provide clients with 1% of their loan amount, up to $13,750, as a predictable cash payout
- Differentiate between a cashback mortgage solution used for qualification needs and nesto’s cashback offer that enhances post-purchase flexibility
- Help clients manage moving costs, renovations, or new furniture with funds received within days of funding
- Deliver a straightforward solution with no tiers, every client gets the same percentage regardless of loan size
- Combine nesto’s low rates with a cash incentive that strengthens your client offering
- Position yourself as a trusted advisor by matching clients with flexible financing options that improve their overall homeownership experience
| Feature | Cashback Mortgage | Mortgage Cashback |
|---|---|---|
| When Funds Are Paid | At the same time as the mortgage funds | After the mortgage funds, usually within 7–14 days for nesto |
| How Funds Are Delivered | Included in the lender’s instructions to the real estate lawyer or notary | Deposited into the client’s mortgage payment account |
| Impact on Qualification | Can help meet lender or insurer conditions if used to pay down debts or cover specific costs at funding | Cannot be used to improve debt servicing ratios since payout is post-closing |
| Common Uses | Closing costs*, renovations, paying down debt, and meeting lender conditions | Furniture, moving services, cosmetic updates, discretionary spending |
| Flexibility of Use | May have lender restrictions on allowable uses | Full discretion for the client on how to spend funds |
| Eligibility | Product-specific, often for certain mortgage types and terms | New mortgages, renewals, or refinances meeting the lender’s eligibility rules |
| Example Amounts | Percentage of the mortgage amount, often with a maximum cap | nesto: 1% of the mortgage amount, up to $13,750 |
| Interest Rate Impact | Typically higher than non-cashback mortgage rates | Cashback rate specific to a 5-year term with 120-day rate hold and may differ from the lowest posted rate |
| Early Payout Calculation | Based on the lender’s prepayment penalty calculation as per the mortgage terms and conditions | Based on nesto’s prepayment penalty calculation as per the mortgage terms and conditions.The cashback will be clawed back fully or proportionally if the mortgage is discharged prior to maturity. |
| Best For | Clients needing funds available on closing day to manage obligations or meet requirements | Clients wanting a predictable, no-tier lump sum for planned post-closing expenses |