Tax Deductible Mortgage Plan (TDMP)

How The Tax Deductible Mortgage Plan (TDMP) Can Save You a Fortune

Your home mortgage loan can sometimes seem like a burden that you have to bear in order to build equity, worth and money for your future. But the truth is that many mortgage lenders aren’t telling you how your home mortgage loan can help you to pay off your mortgage in half the time without causing a rise in your payments.

Fraser Smith, an author and real estate guru, wrote a strategy guide about his method for capitalizing on your home’s accrued value called the Smith Manoeuvre. The Tax Deductible Mortgage Plan (TDMP) has built upon the work of Mr. Smith to create an even more effective method of paying off your mortgage which is safe and easy to administer.

TDMP works by helping you to make payments and then borrow against the portion that went to your principal immediately through a HELOC, or Home Equity Line of Credit and the best part is, your low interest rates stay the same.

So if $300 of your first mortgage payment goes to your principal, then you immediately have $300 in your Home Equity Line of Credit that you can borrow against.

According to TDMP, each month, you make your payment and then use your Home Equity Line of Credit to borrow the amount paid on the principal, which you then place into a mutual fund, stocks or other investments. The best part is, any money you borrow through your Home Equity Line of credit that is used for investment purposes is also tax deductible. Paired with your the low interest rates you’ll have now on your new home mortgage loan, you can’t beat the savings any other way.

By utilizing TDMP in your real estate planning, you be able to pay off your mortgage years sooner than with just a low rate from a chartered bank.

Would you like to save money? Contact us and learn more about TDMP!

If you’re interested in using a low interest rate mortgage to your advantage with Tax Deductible Mortgage Plan, contact us today to get started.  Fill out the form below or call us for your free, no-obligation consultation and find out how much TDMP can benefit you!