Boost Your Retirement Savings with Interest Only Mortgages!
Borrowers can buy a home or refinance into this mortgage and pay just interest. Unless you make pre-payments, the balance never changes. Which means you owe the same amount on the house as you did before.
Step 1: Get a low-cost, interest-only mortgage to slash your monthly payments.
Step 2: Invest that payment savings in your RRSP.
Step 3: Use the tax refunds resulting from these RRSP contributions to make a prepayment on your mortgage each year.