Lending mortgage funds within RRSP`s
- Thread starter barb
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QUOTE (RCrein @ Jan 16 2010, 09:11 PM) I thought that RRSP mortgages had to be to someone else at arms length.
yes, unless insured by CMHC !
yes, unless insured by CMHC !
QUOTE (ThomasBeyer @ Jan 21 2010, 11:20 AM) yes, unless insured by CMHC !
Hello Thomas,
I apologize in advance if i`m beating a dead horse here!
I`m in a similar situation where i have money tied up in my RRSP`s and would like to use these funds as down payment on my first investment property.
I would like to take advantage of the CMHC 2nd Home Program and purchase a 4-plex and move in to one of the units.
Now, because this investment would be CMHC insured, am I understanding you correctly when I say " I can lend myself money using my RRSP`s as collateral through Olympia Trust ?"
Hello Thomas,
I apologize in advance if i`m beating a dead horse here!
I`m in a similar situation where i have money tied up in my RRSP`s and would like to use these funds as down payment on my first investment property.
I would like to take advantage of the CMHC 2nd Home Program and purchase a 4-plex and move in to one of the units.
Now, because this investment would be CMHC insured, am I understanding you correctly when I say " I can lend myself money using my RRSP`s as collateral through Olympia Trust ?"