Cashback Mortgage to buy a Condo

#1
Hi all,

I'm planning to buy a condo worth $350K. I can manage a 100K now and for the remaining cost, I need to take a mortgage. I'm having a good credit score, about 750. So, hope it would be easy for me to get a mortgage of $250K.

My plan was to take a mortgage with cashback as I read some of the advantages of the same. Recently, I consulted a broker too to clarify the things and he could better convince me with the benefits of a Cashback mortgage.

But, my friend asked me not to take a cashback mortgage as he is suffering from the debts he has from such a mortgage. Now, I'm totally confused. Everyone is supporting me to take a cashback mortgage while my friend who is having an experience is discouraging me from the same! Does anyone over here have any suggestion regarding this?