Dan Q&A: How do I borrow money from my RSP to buy a home?

As most people know, FIRST Time home buyers, as well as a few others, are able to lend themselves up to $25,000 from their RSP’s to help with the downpayment on a home. Recently there was a helpful online article introducing

the process and the requirements:

In addition, you should be aware that there could be good reasons to NOT pay back the loan to yourself. You may want to discuss with an accountant or financial advisor.

For information directly from the government of Canada, check out this LINK.

There are many reasons to not put off buying your first home, and also times when patience is prudent. I’m happy to help those of you with questions. Each situation is different.

See videos in the BLOG for commentary and Statistics: