Is this your first home ? If so, did you know that if you accumulate a 25% down payment, you don’t have to have CMHC involved, which could save you 3%.
Another option would be to take advantage of the Home Buyers Plan (HBP)
A Home Buyers Plan (HBP) allows you to use your RRSP to make an initial down payment. Under the (HBP) you can withdraw up to $20,000 ($40,000 per couple) from your RRSP tax free, and you have 15 years to re-invest the withdrawn amount in your RRSP.
