Mortgage Information Tip from: Find Your Mortgage

“Good Debt” versus “Bad Debt”

Not all debt is created equal… the difference lies in how it helps or hurts  your pursuit of your financial goals.

Some debt can be seen as an investment in one’s future:

• Borrowing money to maximize your RRSP contributions.

• Loans with tax-deductible interest to earn investment income.

• Borrowing to acquire an asset that may increase in value, such as your home or a rental property.

• Student loans that enable you to get an education and lay the groundwork for a career.

However, other types of debt can be a drag on future opportunities:

• Revolving consumer debt with high rates of interest, such as balances on certain credit cards or department store cards.

• Buying something that has little or no future financial value using borrowed funds.

• Cash advances on your credit card. Interest is charged right from the date of your advance.

Let a Find Your Mortgage Inc. mortgage agent help you understand your mortgage options.

Let  one of our mortgage professionals give you a proper assessment of your mortgage and refinancing options. We can also lock in interest rates for up to 4 months to guarantee your lowest interest rate.

Regards,

Find Your Mortgage Inc.

416-459-6945 www.findyourmortgage.ca