True Assets

RRSP options

  • Are you tired of the ups and downs of the market and what it does to your projected retirement date?
  • Are you concerned about the next market crash like those in the early 2000’s and late 2007 when many retirement accounts were cut in half?
  • Are you worried that your company pension could be cut down during retirement or disbanded by a defaulting company?
  • Would you like to have clear consistent returns on your RRSP or RRIF that are well above what you will get from a GIC?
  • Have you heard of holding mortgages on Canadian property within your tax deferred RRSP?

Enter RRSP Mortgages!

RRSP-MortgageWhat are RRSP Mortgages?

RRSP Mortgages are mortgages held privately by a Self Directed RRSP plan with a Trust company in Canada. You choose who to lend to, how much to lend, and which property to lend on. Your RRSP Fund is registered on Title and secured by the property just like any other mortgage.

Who can take advantage of these?

Anyone can take advantage of an RRSP Mortgage who presently has funds in an RRSP or RRIF or who has funds to deposit into an RRSP.

Where can these be registered?

RRSP Mortgages can be registered on any Canadian real estate.

Why would this be a good option?

Instead of following the flow of the stock or equity market, you can enjoy consistent mortgage payments into your account that are not subject to market fluctuation.

How does it work?

  1. Go to a Canadian Trust company and open a self directed RRSP account
  2. Transfer your RRSP or RRIF funds to your self directed account.
  3. Find someone willing to borrow your money backed by their real estate.
  4. Have a Lawyer draft a mortgage commitment
  5. Complete and sign the mortgage commitment. The lawyer will register the mortgage on title.
  6. Fill out and sign Mortgage investment Direction form with your Trustee of choice.
  7. Set up automatic payments with a mortgage electronic funds transfer form, and watch the monthly returns go into your account
  8. Set up with your Trustee to have the monthly income invested as per your choosing when deposited so it can be earning money as soon as it enters your account.

How much does it cost?

Typical fees vary depending on the Trustee you select, however typical costs are:

  1. $150 annual account fee
  2. $100 mortgage setup fee
  3. $10 month admin fee per mortgage.

Contact us at True Assets for an analysis of your current and future situation to see if this would be a fit for you.