RRSP and Mortgages
Close your real estate transaction with confidence. Available for virtual and in-person closing, we bring legal expertise to you in the most convenient and affordable way.

Close your real estate transaction with confidence. Available for virtual and in-person closing, we bring legal expertise to you in the most convenient and affordable way.
An RRSP is a retirement savings plan that you establish, that is registered, and to which you or your spouse or common law partner contribute. Deductible RRSP contributions can be used to reduce your tax. Our lawyers make land title transfers and mortgage transactions legal. Axess Law online real estate lawyers close the deal quickly and efficiently. Our low-cost legal services for buying a new home or getting an RRSP mortgage to change residences are easy to afford.
Making your first down payment or moving to a newer subdivision, let your RRSP do the talking when it comes to mortgage financing. Toronto area home buyers know just how expensive housing can be. At Axess Law, we understand you’ve sacrificed to get this far. We appreciate your home is a major investment. Pursuing your ambition to be a homeowner is emotionally and financially challenging at times. Using your RRSP for the down payment takes some of the stress out of saving for a home by putting income you’ve already saved to work achieving your ambitions. Withdrawing money from a RRSP before you reach retirement usually triggers withholding tax. But when you use your RRSP to buy a home, you take advantage of your retirement savings now. Your money is still available when you need it, while your dream of having a home to call your own is closer than you realize.
Click on ‘Get Started’ button to receive a quote from us. If you decide to proceed, our customer care team will reach out to you within minutes to discuss the next steps.
You will receive a secure intake link in your inbox to submit your closing documents. After receiving your documents, we will work with the lender to prepare for closing while keeping you informed at all times.
Prior to closing, Axess Law will ask you for two pieces of ID. Proving your identity is obligatory to prevent mortgage and title fraud. You may use either two pieces of primary ID (Ontario driver’s licence, passport, Ontario photo card, Canadian citizenship card with photo or Canadian permanent resident card with photo) or one primary and one secondary ID (birth certificate, social insurance card or major credit card with your name on it).
Whether you are buying, selling or refinancing your mortgage, Axess Law will need the name and contact information of your mortgage lender. Information your lawyer may require includes:
If you are paying off a home equity line of credit (HELOC), tell us the outstanding amount owing. Your mortgage lender can provide copies of mortgage documents on request.
Axess Law helps first-time home buyers leverage their RRSPs to make down payments for Ontario homes or land. You saved hard to build up your RRSP. Now put your money to work buying or building a home. Canada’s Home Buyers’ Plan allows you and a legally married spouse or common law partner to use up to $70,000 from your pooled RRSP accounts towards the purchase of a principal residence. On your own? Withdraw up to $35,000 from your account to buy a detached or semi-detached home, townhouse or condo, mobile home or apartment (duplex, triplex or four-plex units allowed), or purchase co-op housing shares. Cottages or commercial properties are excluded.
Canadian citizens and first-time home buyers can buy or build homes sooner with the federal Home Buyers’ Plan. You qualify if:
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If you have a substantial self-directed RRSP and don’t mind paying higher interest rates, consider holding your principal residence mortgage in your RRSP. You get a low ratio mortgage in return (with a 20% down payment), but pay yourself interest instead of your banker.
Axess Law recommends RRSP mortgages as part of a diversified portfolio. You’ll have to factor in setup fees and charges to administer the RRSP annually, Plus CMHC mortgage loan insurance is mandatory, an extra expense for you.
Axess Law lawyers are notary publics and can witness and sign statutory declarations or mortgage discharge papers you may need to finalize your new home’s financing. Your mortgage registration or discharging a mortgage in Ontario is complete in a week or so.
We research your property title and point out problems like mistakes on property surveys or records that can cost you dearly, now or in the future when you go to sell.
Only a lawyer or notary lawyer can complete real estate deals in Ontario. Axess Law is available when you are, 7 days a week, day or evening, online or in-person for sage mortgage and home buying legal advice.
You can maximize your RRSP withdrawal by applying for a Canada Mortgage and Housing Corporation (CMHC), Sagen, or Canada Guaranty high ratio mortgage and keeping your down payment as low as possible. You’ll pay more interest than with conventional mortgages, but have the added advantage of knowing your payments are more affordable, just when you need mortgage relief the most.