| | Scenario
One |
| |
Investment
Property Purchase Scenario. |
| |
 |
Client needs advice to finance
the purchase of a $280,000 revenue property. |
| |
|
They have $70,000 in their
savings investment account for the down payment. |
| |
|
Additionally, the clients
have $180,000 in their combined RRSP accounts. |
| |
|
Their Bank has already quoted
an excellent rate of Prime -0.75 % for 5 years. |
| |
|
The principal residence
is worth $250,000. |
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|
There is an existing mortgage
of $65,000 maturing in 8 months. |
| |
|
They also have $15,000 in
credit card debt and a car loan. |
| |
|
Professionals planning to
retire in 11 years. |
| |
|
The
Scotia Total Equity Plan is a product that accomplishes exactly
these goals. |
| |
|
By paying interest only
payments on the rental property, the monthly net rental income will
be increased and the customer may receive tax benefits for owning
the rental property. |
|
