It’s been said that buying a home is investing in your personal bit of real-estate that you can then leverage at a later time. Calgary mortgage brokers know all about investing in your own home. Ways of investing in your very own home are changing and one method actually reflects what financial advisors have been saying for years, which is “never put all your eggs in one basket”! Most mortgages however, do just that. The interest paid on your mortgage goes to your bank, and if your home’s properly value depreciates too quickly or if other factors negatively affect the value of your home, there’s nothing you can do to recoup the losses.
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That is changing. Did I already say that? Multi-component mortgages now exist where you can have both a fixed-rate mortgage and a home equity line of credit (referred to as a HELOC in the industry). If you work with a mortgage broker and a financial advisor together, you can conceivably have your mortgage converted into free and clear investment funds within a few years of the original mortgage being paid off. One example gave a 25yr mortgage being fully converted 22.5yrs into the mortgage. Even better, with your financial advisor overseeing your conversion and managing your investment strategies, you can claim tax deductions on your Calgary mortgage payments!
To take advantage of this potential scenario, you need to talk to someone like Josh at Mortgages For Less in Calgary or Fort McMurray mortgages. Josh has the ways and means to get you the best available rates for a multi-component mortgage, and before long, investing in your home really can see dividends! Josh is just one of many Calgary mortgage brokers that are on to this amazing home investment strategy. Don’t start with the banks, start with a mortgage broker and find out how you can make your home work for you.
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