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Originally Posted by return to the red
well I have the money for the downpayment I was just concidering putting more money down and lowering the amount I am mortgaging. Personally I can afford the mortgage but I like having that extra money and push to pay stuff off quicker
Thanks for all the advice and personal input
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Don't touch your RRSPs if you don't need them to get into the market. That extra 20 grand downpayment will not save you nearly enough in interest on the houe to make up for losing those gains as well as tax sheltering opportunities. The only time it's a good idea to use HBP is if you can't get into the market with your own savings. Or if interest rates are around 18%.