Is TFSA or RRSP Better to Save Up for a Down payment?

Learn the advantages and disadvantages of the Tax-Free Savings Account (TFSA) and Registered Retirement Savings Plan (RRSP) for saving up for a down payment. The government has two popular tax-free programs that can help you save up for your down payment. Both are great for savings but if your purpose is to use the funds for a down payment, there are advantages and disadvantages.

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John Lee, a Mortgage Broker based in Canada, shares ways to be approved for a mortgage, home buying tips, and other mortgage-related stuff. If you're considering purchasing a home or refinancing your existing property, make sure to subscribe for helpful content-rich videos.

He is a licensed Mortgage Broker, author of The Ultimate Mortgage Guide, and the President and CEO of Arise Mortgage. He's been in the financial and real estate industry since 2006. Before becoming a Mortgage broker, he worked at various big banks and a real estate company that involves property management and large real estate acquisitions. He has helped hundreds of families with a mortgage and one of the most fulfilling parts of my job is working with first time home buyers and securing their dream home.

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