Are You Looking To Create A Tax Deduction by Borrowing to Invest?

During these times, we are all reevaluating our situations, planning ahead, and possibly redesigning a new plan. Here at Mortgage Teacher, we are committed to not only help you get a mortgage- but more importantly… to get rid of it.

To sit down and redesign your plan, as you can see in our glossary, that is called a refinance.

What is refinancing your mortgage you may ask?
Refinancing a mortgage is when you consider the current commitment and try to make changes moving forward.

For example, you currently have two years left of a 5 year mortgage. Your house is currently valued at $600,000 and you owe approximately $200,000.

The hope is to borrow an additional $100,000 (i.e. renovation or invest).

We together would calculate the total costs vs. the total savings and make sure the “redesign” is in your best interest. Once we find the best fit for your mortgage needs, we then follow up with automated post close strategies that help you and your hired professionals in your network such as your lawyer, financial planner, and/or accountant for organizational and tax deduction purposes.

If any of this is resonating with you and you would like help to further move forward with the refinancing process, Mortgage Teacher is here to help. Any questions you may have are best answered with a professional who can walk you through all of your options and personal circumstances. Speaking to a mortgage professional is the best thing you can do (and consulting with one is FREE of charge). We are here to walk you through the process and make sure you get the best possible rate for you and your specific needs. Email us today at contact@mortgageteacher.com

Via: Ratehub.ca