All-in-one Strategy TD HELOC

All-in-one Strategy

all-in-one-strategy This quite a conservative strategy which can dramatically reduce overall interest paid on a mortgage (and reduce amortization).  What is further, this strategy is particularly beneficial if you have other outstanding higher interest debt (then it can actually improve your cashflow on top of that).

all-in-one-strategy $4000 in penalties & will still be far better off in the long run.  As opposed to waiting until his mortgage matured 4 years later.

 

The Smith Maneuver

The best example of how this strategy works can be found on Fraser Smith (the strategies inventor) website.  http://www.smithman.net/home.html.

This is a strategy we covered in our Advanced Financial Planning session.  As you paydown your mortgage you borrow back some of the  principal and place this in an investment.  You then get a tax refund for the investment loan, pay that against your mortgage.  You are essentially converting non tax-deductible bad mortgage debt, into good tax deductible  debt.  & in the long run the can be substantially better off.

Change in Residential Mortgage Rates TD Canada Trust

Change in Residential Mortgage Rates

Effective December 11, 2008, mortgage rates have decreased as follows:

Term	Rate		Change
6-month convertible	5.90		-0.20
1-year open	8.55		N/C
1-year closed	5.60		N/C
2-year closed	6.25		-0.20
3-year closed	6.25		-0.20
4-year closed	6.09		-0.20
5-year closed	6.75		-0.20
6-year closed	7.00		-0.20
7-year closed	7.20		-0.20
10-year closed	7.55		-0.20
5- year Special	5.59		-0.20
Variable Interest Rate Mortgages	TD Mortgage Prime	Variance	Rate
Closed VIRM: Rate is TD Mortgage Prime + 0.60%	4.00	+0.60	4.60
Open VIRM: Rate is TD Mortgage Prime + 0.85%	4.00	+0.85	4.85
Home Equity Line of Credit	TD Prime	Variance	Rate
Float: Rate is TD Prime + 1.00%	3.50	+1.00	4.50

TD PRIME GOES DOWN!!

 

TD Canada Trust has made the following changes to rates:

Decreased the TD Prime lending rate to 3.50%, effective December 10, 2008.

This rate change only affects the float HELOC product.

Note: TD Mortgage Prime will change on January 1st, 2009 which will impact the Variable Rate Mortgage.

Canada’s best mortgage rates!

 

TD Mortgage Rate Lowers! 4.35%!!

Great news TD Mortgage Rate Lowers!!

 

TD Mortgage rates are lowering! Today it was announced that effective November 19^th 2008 that a limited time offer of 4.35% 1 Year Closed Fixed Rate Mortgage will be offered on applications up to December 31^st 2008. All transactions must be funded by no later than April 30^th, 2009. As with all Mortgage products the offer can be changed or withdrawn at any time – time is of the essence! Is your mortgage working for you, or are you working for your mortgage? Today is the perfect time to start saving money. Today!