Your Rental Property Has Never Been More Lucrative
October 4, 2010 § 1 Comment
– Not only are the payments lower, but more importantly the proportion of each payment that goes go the principal mortgage amount is substantially higher than we have ever seen.
– At the current variable discount rate of 2.4%**, and with a 25 year amortization, 60% of the payment goes to principal.
– You will be building up equity in your home faster than ever.
– You can write off the cost of your mortgage interest against your rental income
– Also, you can depreciate all of your major appliances on your taxes. This gives you additional non-cash write offs to further cut down your tax hit.
*OAC **Rates are subject to change ***Please contact your accountant or financial planner before making any investments