If you want to use your Registered Retirement Savings Plan (RRSP) to help buy your first house or condo, you can borrow up to $25,000 in any one year, with 15 years to pay it back.

For younger readers it’s an attractive possibility, because a couple can borrow up to $50,000 for a down payment. The question comes up frequently in email and comments: Should we or shouldn’t we? The answer is, it depends, but even at the top of a housing market, it can make sense as long as you have a clear understanding of the risks.

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