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When to swap mortgage for a line of credit and investing
The piece weighs whether replacing a mortgage with a line of credit makes sense. It highlights that secured LOCs run near prime 4.25 percent with 75 percent to 90 percent loan-to-value, and notes tax deductibility only if funds are used for income producing investments. It advises using a VRM for non investing needs and favors variable mortgages for most borrowers.
MENTIONED IN THIS ARTICLE
Chuck
Fredericton
Dan
Toronto