Money before tax ---> RRSP
RRSP--->Buying house
Then in the next 15 years you have to:
Money after tax--->RRSP
So you gain nothing. If your investment in RRSP is good, you will lose the interest shield for this amount of money taking it out from RRSP.
Conclusion: If you have money outside RRSP. Use this amount of money.
Or, if your investment return rate is much higher ( we should also consider the tax when you take the money at your age of 70's or 80's but that is the single interest rate while your investment is complex interest rate ) than morgage rate, borrow money from bank please.
Big conclusion: For most people, there is no many difference to borrow money from RRSP. That's the reason why the Canadian government has not bankrupted.
RRSP--->Buying house
Then in the next 15 years you have to:
Money after tax--->RRSP
So you gain nothing. If your investment in RRSP is good, you will lose the interest shield for this amount of money taking it out from RRSP.
Conclusion: If you have money outside RRSP. Use this amount of money.
Or, if your investment return rate is much higher ( we should also consider the tax when you take the money at your age of 70's or 80's but that is the single interest rate while your investment is complex interest rate ) than morgage rate, borrow money from bank please.
Big conclusion: For most people, there is no many difference to borrow money from RRSP. That's the reason why the Canadian government has not bankrupted.