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All About Mortgage: 10/14/09 How much you can deduct depends on the date of the mortgage, the amount of the mortgage, and how you use the mortgage proceeds. If all of your mortgages fit into one or more of the following three categories at all times during the year, you can deduct all of the interest on those mortgages. 10/14/09 2:00pm. read time: 3 minutes. Comments.
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If it is less than 25 per cent, the mortgage must be insured with a mortgage insurance company, such as Genworth Financial Canada. Homes can be purchased with as little as five per cent down. Mortgage payments for principal, interest and taxes generally should not exceed 30 per cent of your gross monthly income.
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