When is it beneficial to re-finance my investment?

This depends on how your condo investment fits into your overall financial picture.

Lenders will let you refinance within months of final registration.

You would have the opportunity to re-finance up to 80% of the current market value as established through an appraisal.

In general it is beneficial to leverage your investment unit with a maximum mortgage for tax purposes. The interest expense can be used to offset the rental income. When done properly this allows you to reduce your net income which in turn lowers your personal taxes.

This information is not intended as tax advice. Always consult with your accountant to structure your finances as effectively as possible.

This question was answered by Chris Molder (Mortgage Broker)