Tax Deductible Mortgage Strategies
In Canada, interest on money borrowed for investments can be tax-deductible. That is why so many people get HELOCs and use them for investments.
Generally a personal home is not considered an investment for tax purposes. However, by using a readvanceable mortgage, it is possible to make your residence’s mortgage interest tax-deductible while paying off your mortgage faster. Making your mortgage tax-deductible is not without its risks so please do consult your mortgage expert (me) :).Request An Appointment