As a courtesy to our valued clients, intelliMortgage provides appraisal rebates when you close an online mortgage with us:
- For mortgages of $250,000 or more, we rebate for your full appraisal cost up to $250 if an appraisal is required.
- For mortgages from $150,000 to $249,999, the rebate is $125.
- For mortgages where the down payment is less than 20% of the property value and the mortgage amount is $350,000 or more, we rebate for your full appraisal cost up to $350 if one is required.
Your rebate is issued on or before the 19th day of the month (or next business day if the 19th is a weekend or holiday), following the month your mortgage closes with us. Rebates are paid via electronic transfer to your bank, or by cheque, whichever you prefer.
Kindly note: Appraisal rebates apply only when an appraisal is required on an owner-occupied primary residence mortgage. We will advise you if an appraisal is required before you have to commit to a lender. Lenders dictate the appraiser that may be used. Rebates cannot be provided in cases where the appraisal is not satisfactory to the lender and/or borrower. Appraisal rebates are limited to one per client, per six-month period. Due to the limited profit margin on deep-discount limited-time offers (e.g., “Top Deals“) and on refinances with one’s existing lender, appraisal rebates are not typically available. In the event that a rebate is not available on a conventional mortgage rate, we’ll always clearly disclose this to you in the Mortgage Builder and Top Deal rate notes.