WHAT IS A TAX-DEDUCTIBLE MORTGAGE?

In the United States, tax deductible mortgages are the norm. In Canada, tax deductible mortgages have always been available to the financially affluent ... until now. Now, you too are able to convert your mortgage from a "liability" into an "investment." Not only will your home become an investment, you will also be able to pay it off MUCH, MUCH sooner.

How a Tax Deductible Mortgage Works

The Tax Deductible Mortgage Plan (TDMP) allows you to convert your mortgage into a tax-deductible loan. In turn, you convert the interest into a tax deduction, which for many people will generate a Tax Refund.

By converting your mortgage into a tax-deductible loan, you are turning the interest into a tax deduction. When you subtract that deduction from your income, you get a tax refund. That refund is Free money. You do not have to invest any of your own income or increase your debt to get the tax refund. Conversely, the refund you receive from investing in RRSPs is not free money. You pay for your RRSP by using your own after-tax income to buy the tax refund.

Do You Qualify?

The best way to know if TDMP is right for you is to complete the TDMP Test and get your Free Benefits Analysis Report. Once this is complete, we will contact you to let you know if you qualify for the plan. Here are a few basic guidelines: First off, you should currently own a home and have built up at least 20% equity. It is possible for new buyers to qualify, but this will require a consultation with myself.

Your outstanding mortgage balance should be at least $100K and you should be employed (or self-employed) with good credit.

READY TO GET STARTED?

 

Phone: 604.838.6725
Fax: 1.888.511.3411

E-mail: info@approvalpro.ca
VERICO Paragon Website: www.paragonmortgage.ca

 

THE INS & OUTS OF MORTGAGES

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