When you visit a commercial mortgage broker to find out what options you have for financing the purchase of your property in Chandler, Arizona, you may be surprised to find that mortgage lenders are so desperate for your business that they're actually offering incentives to convince you to choose them. After the sub-prime mortgage crisis, everyone's trying to rebuild their coffers by attracting more customers. Here are some of the mortgage incentives you may be offered.

No Fees

Ordinarily, signing up for a mortgage comes with an impressive array of fees that need to be paid before you can get the financing for your condo in Mississauga or your house in Chandler. There are application fees, underwriting fees, processing fees, and so on that can add up to several thousand dollars. By choosing a no fee mortgage you can save as much as $5,000 up front, which is money in your pocket.

Rewards

Banks have partnered with other companies from grocery stores to airlines in order to offer you rewards and incentive points that will attract you away from their competition. For instance, if you get a Bank of Montreal loan for your house for sale Markham you get 500 free Air Miles. Other banks offer Aeroplan Miles, store club points, free groceries or gas for your car, and even hot ticket items like iPods or laptop computers. Though it's more of a thank you than a discount on the mortgage, getting a freebie could save you money in another area of your budget.

Cash Back

Cash back is another popular offer among banks and lenders that will actually save you money on the cost of the mortgage. Commonly offered cash back amounts are between 1% and 3% and could end up saving you several thousand dollars over the life of your mortgage. The larger the mortgage, the more cash you get back, so if you're funding the purchase of luxury homes in Toronto the cash you get back from a deal like this could buy you a car or a nice vacation.

Rate Discount

Rate discounts are the least popular discount option for banks because the above rewards can be compensated if they can get more money in interest out of you. This is why many people buying Port Perry real estate will only consider a rate discount. A common type of rate discount banks offer is a certain portion of a percentage point off their competitor's advertised interest rate.