Hello all,
It is time for me to get a mortgage for our new residence.
I was searching through this forum, and could not find an answer to my question.
I have two options:
1. I will use all the cash I have for a downpayment. At the same time I will apply for a secured line of credit. I will use this LOC as a downpayment for my first RE investment.
I think my TDS ratio will be better in this case. I can also deduct taxes on interest portion of LOC if I use it.
2. I will put only 20% down and use the rest to invest.
Which option is better an why?
Would be great if you can recommend a sophisticated mortgage broker in GTA.
Thank you.
It is time for me to get a mortgage for our new residence.
I was searching through this forum, and could not find an answer to my question.
I have two options:
1. I will use all the cash I have for a downpayment. At the same time I will apply for a secured line of credit. I will use this LOC as a downpayment for my first RE investment.
I think my TDS ratio will be better in this case. I can also deduct taxes on interest portion of LOC if I use it.
2. I will put only 20% down and use the rest to invest.
Which option is better an why?
Would be great if you can recommend a sophisticated mortgage broker in GTA.
Thank you.