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Advice on home equity loan

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barneslinda
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Advice on home equity loan  Reply with quote  

Hey

I am in need of a large lump of money for my brother. So, I thought some plans and finally came up with taking a home equity loan. But I need to know more about this before applying for the loan.

Is it a variable or fixed rate loan? What is the amortization period range? I came through some benefits. Past the entrance to huge entireties of cash, another favorable position of home equity loan is that the interest you pay is typically tax deductible for the individuals who separate conclusions, the same as the regular mortgage interest. The government charge law enables you to deduct mortgage interest on up to $100,000 in home equity debt. There are sure confinements, however, so check with a tax advisor to decide your own particular qualification.

I need more clarifications on the same. Also, need some suggestions for mortgage brokers in Toronto helping with home equity loans. My friend had suggested one, but need to know the general feedback. More advice is expected. Thank you.
Post Thu Dec 14, 2017 11:24 am
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