Maintain Tax Efficiencies and Financial Solutions
Whether you are incorporated or a sole proprietor you should consult with your team of advisors to take full advantage of tax strategies and financing solutions designed for business owners.
One of the most effective strategies for any business owner is to maintain tax efficiencies. With the professional guidance of your accountant and mortgage advisor we can provide options to maximize your borrowing without taking a hit on your taxes.
Always consult your independent mortgage advisor each year before tax time and especially before making any large capital purchases such as residential or commercial real estate.
Manage Your Real Estate Portfolio with Financing Solutions
Purchasing a property for investment and rental income requires a different approach than for an owner occupied property. The lender takes into consideration different factors when reviewing these mortgage applications. There is a greater risk to the lender therefore they have stricter guidelines and each lender their own policies.
Your mortgage advisor can help guide you throughout the process to fully understand the aspects of this type of mortgage and how to manage your real estate investment portfolio. Much like you rely on your financial planner as a professional to manage your stock portfolio you should do the same for your real estate holdings. Before you invest in a single unit property or multi-unit properties residential or commercial, consult with an independent mortgage advisor.
Tax free income
There are financing options for homeowners over 55 years of age.
A CHIP (Reverse Mortgage) offered by Home Equity Bank or a Manulife One Mortgage have programs for senior home owners.
Both products let you to take equity from your home tax free allowing you to let your other investments grow while maximizing your tax savings on your income
Use the equity take out for:
- Investment in another property as a vacation home or rental
- Monthly cash flow to cover living expenses
- Medical expenses, home renovations or large expenses
- Funds to help a family member
- Money for grandchildren to use for education or a down payment on their own home
NOTE: There are some misconceptions about CHIP Reverse Mortgages. To learn more or contact our office for more information. Don’t set your financial plan without considering a CHIP Mortgage to see if it is a fit for you.
There are some distinct differences between the two programs. Consult with your Certified Mortgage Advisor to review the best option for you. We encourage all family members who need to be involved to join us in the meeting to ensure all your questions are answered.
Alternative Lending Options
As independent mortgage advisors we have access to a variety of alternative and private lenders for those clients who can’t access traditional financing.
We have helped clients facing life altering events such as serious illness or injury in their family, separation/divorce, loss of employment among others. During this time there may be the need for funds on a short-term basis to avoid default on your mortgage or legal action against your home till you can get back on your feet.
Other situations where alternative financing may be needed include:
- Pay-out of high-interest debt
- Bad or bruised credit repair
- A short term need for funds between the sale and purchase of a property
- Self-employed without traditional proof of income
- Investing in real estate
This kind of financing is a way to access funds based on equity in your property. This is a short term solution that requires the expertise and guidance from a mortgage advisor with a crafted exit strategy for the lender and the borrower.
Always consult with an experienced mortgage advisor to help you make an informed decision.
This kind of financing allows you to:
- Consolidate your debt load into one lower payment
- Increase your personal cash flow
- Improve your credit rating
- Lower your interest rates compared to higher credit card rates
- Access funds to purchase a rental property
- Pay off Canada Revenue and avoid high penalties or a charge against the title of your home