What is Cash-back Offer?
A cash-back is a lump-sum payment from a lender — typically $2,000 to $4,000 — when you take out or refinance to a new loan. Paid after settlement.
Why it matters for you
Cash-back is free money, but never evaluated alone. A 0.10% higher rate on a $700K loan costs about $700 per year — wiping out a $3,000 cash-back in about four years. Always compare total cost over 3–5 years, not headline bonus.
Last updated: April 2026