Blog Archives

Can I use my RRSP to help buy a house?

March 27, 2013

Yes: about half of first-time homebuyers dip into their RRSPs to help finance a down payment. Under the federal government’s Home Buyers’ Plan, you can use up to $25,000 in RRSP savings (more...)

Can I use cash gifts as a down payment?

March 27, 2013

Yes, but the lender may ask for written confirmation from your generous family member that the funds really are a gift and not a loan. If you need mortgage loan insurance, CMHC (more...)

What’s a down payment?

March 27, 2013

It’s the portion of the purchase price that you furnish yourself: your initial equity in your new home. The larger your down payment, the less your home will cost in the long (more...)