What can I use for a down payment?
In most cases:- Registered Retirement Savings Plans (RRSP's) may be used as a down payment up to a maximum of $20,000 per applicant,(2 applicants max) and is not subject to income tax if repaid within 15 years.
- Gift from immediate family
- Accumulated savings
- Sale of existing home
- Equity
I had no idea of all of the advantages of dealing with a mortgage broker. Dave has excellent business contacts with the banks, making it easy and seamless to move from one lender to another. His contacts allowed me to receive...
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