RMG Mortgages has just launched a new cash-back mortgage called the “Smart Start Mortgage“. This cash-back mortgage gives clients cash-back on closing and gives them the flexibility to cover closing costs, help with renovations, kick start their home improvements, or even cover property transfer costs!
What is the RMG Smart Start Mortgage?
The 1.5% Cash Back mortgage is designed to assist the first time homebuyer or a purchaser with 5% down payment with a competitive 5 year fixed interest rate, combined with a 1.5% “cash back” to cover the requirement to
verify closing costs when purchasing a home or to help with home improvements.
What are the RMG Smart Start Mortgage Pre-Payments?
The RMG Smart Start Mortgage has the same pre-payment options at regular RMG mortgages. Borrowers have the opportunity to increase their regular payment by up to 20% & make lump sum payments on any regular payment date of up to 20% each year.
RMG also offers Weekly, Bi-weekly, Semi-Monthly & Monthly payment schedules.
What is the rate on the RMG Smart Start Mortgage?
Just like all cash-back mortgages the RMG Smart Start Mortgage rate is slightly higher than a regular 5 year fixed rate mortgage. If you would like to know today’s RMG Smart Start Mortgage rate, simply fill in the form below and we’ll be in touch.
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