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Originally Posted by albertGQ
And to add, with a HELOC there is no penalties for you to pay when you sell your house and pay off the entire HELCO, whereas, there will be with a mortgage, so that will save you a couple thousand dollars too
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And to add to THAT, I've been told that you can borrow off the same HE-LOC and invest that money, and that interest on money you 'borrow to invest' is tax deductible. Not exactly sure how that works, probably limited to certain types of investment (RRSP?), sounds interesting though.