Home Equily Line of Credit

[uglyducking]

抵押贷款vs人品贷款

 

[笨妈笨爸]

抵押贷款vs人品贷款

这个精P！

 

[十二少]

鸭的总结性发言一向精辟！

 

[Jing19]

Secured (Home Equity) Line of Credit with lower interest. Interest rates are almost the same among all borrowers with various of credit score.
vs
Unsecured Personal Line of Credit with higher interest. Interest rate is based on personal credit score.

Both can be paid off instantly or keep paying minimum payment per month. Hope this helps

Ginger Wang
Mobile Mortgage Specialist
613 852 0175

 

[阿土仔]

Secured (Home Equity) Line of Credit with lower interest. Interest rates are almost the same among all borrowers with various of credit score.
vs
Unsecured Personal Line of Credit with higher interest. Interest rate is based on personal credit score.

Both can be paid off instantly or keep paying minimum payment per month. Hope this helps

Ginger Wang
Mobile Mortgage Specialist
613 852 0175

如果借投资房的 Home Equity Line of Credit 用于购买新的投资房，产生的利息可以抵税吗？是抵在新房上还是旧房上？

 

[Jing19]

如果借投资房的 Home Equity Line of Credit 用于购买新的投资房，产生的利息可以抵税吗？是抵在新房上还是旧房上？

That's a very good question. I personally believe it could be used to deduct income tax since you are using the money for investment purpose and it costs you interest to do so. As long as you keep a good paper record of the use of the money, you will be able to provide the proof to your accountant to file the income tax. It more of a technical question in order to determine which house you can deduct it from. So I will suggest you to seek for help from CRA call centre or accountant. Good luck