Innovative Mortgages to Meet Your Needs.
Make Your Mortgage
Tax-deductible with Smart Borrowing Strategies.
Are you paying attention to the right things when hunting for a mortgage? There are three important factors to consider when it comes to your mortgage:
- Your mortgage rate
- Your mortgage terms
- Your tax implications
Despite popular opinion, your mortgage rate is the least important factor to consider.
Did you know that, at some point, most homeowners will break their mortgage? Often people will break their current mortgage to secure a lower interest rate elsewhere or because their situation has changed.
However, breaking a mortgage with a Canadian Bank can incur penalties of $30,000 or more. That’s why it’s so important to prioritize the terms of your mortgage. Favourable terms for breaking a mortgage will provide greater potential for savings down the road — and let you find ways to make your mortgage tax-deductible.
Scout mortgage understands how to navigate the mortgage process to get our clients the best terms, the best rates, and tax savings opportunities. No matter your situation, our team can help you find smart strategies to help you save with your mortgage.
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When purchasing your first home, there are a number of incentives and programs you can take advantage of to fund your down payment, receive rebates, and qualify for tax benefits.
One of the strategies that we use to help our clients save is the Home Buyer’s Program (HBP). This program allows prospective homeowners to withdraw up to $35,000 per individual from an existing RRSP to put towards the purchase of a new home.
RRSP contributions (RRSP loans) can be used to get or increase your down payment at a lower interest rate than a line of credit or another type of loan.
For more information, click here to read our case study.
When you apply for a mortgage with us, Scout Mortgage will use these types of borrowing strategies to ensure you get the most favourable terms for your mortgage.
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Rave Reviews from Our Clients!
They really work hard to find you the best rate, and they’re true to their word. Would highly recommend them 🙂 Such a pleasure to deal with Zana and Kevin !
Was very doubtful at first with finding a mortgage broker on Facebook. But I must say I was extremely impressed with the professionalism of Kevin Bell and his team. It was almost scary how easy he made the whole process. I barely even had to lift a finger. He made the biggest purchase of my life a breeze. Thanks, Kevin, for all your hard work and patience. Would recommend you to any of my friends in a heartbeat!!
I received a professional service. Kevin delivered and looked well after my mortgage needs. Zana provided amazing support and kept me in the loop on the developments. Yes, I would recommend this team!