Good evening FadedBlue,
I saw your posting online regarding LOC or RRSP. I come from financial sales in the Mutual Fund industry.
You are correct in thinking you have lost a lot in the last two years, and could profit 8-15% this year alone as the market bounces back.
Your LOC will not work with the Banks, as you need to provide at least 5% of your downpayment from your own funds. However, there is an option for a cash back Mortgage option. If you received a gift from your parents, or relative, on the closing date you would receive a cash back in your bank account - which you could pay them back on the day you move in.
If you have any further questions, let me know. It is a great time to lock in a rate for 120 days now! Rates are extremely attractive.
Tara Wilkins
Mortgage Specialist
tara.wilkins@td.com
