My Rates

Best 5-Year Fixed Rate

3.04

Best 5-Year Variable Rate

2.50

Posted rates are *OAC and are constantly changing. Please contact me for real time updates.

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TMG

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Should you pay down your debt or invest in the future?

With all the ups and downs and uncertainty in the financial markets, it’s hard to know how to prioritize your own personal finances. The question often asked is…should I pay down debt or invest for the future? I have access to products will allow you to balance both those financial goals. By pairing your mortgage with a revolving home equity line of credit (HELOC), it allows you to take advantage of increasing equity in your home as you pay down your mortgage. Create sub-accounts for your HELOC and keep track of each of the projects you want to finance – whether it’s to pay for a trip, pay down debt, fund your child’s education, buy a car, or renovate. Best of all, you can boost your tax advantage by using your HELOC to purchase investments that may qualify you to tax deduct the interest paid on this separate HELOC. Any tax refunds generated can then be used to accelerate mortgage pay down and increase the HELOC portion for further qualifying investments (commonly referred to as “The Smith Manoeuvre“).

Ready to start a conversation with a mortgage expert? Contact me.

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