Cashback refinance offers pay $2,000–$4,000 to attract refinancers, but should only be taken when the ongoing rate is also competitive — always check for clawback clauses before accepting.
Cashbacks of $2,000–$4,000 can be worthwhile if the rate is also competitive. Optimise for rate first and treat the cashback as a bonus. Always check clawback clauses — most require you to stay 2–3 years.