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I remembered last time when I would to get a mortgage of 200,000 the CMHC insurance will be in the range of 7000 in order to get the addition 40000 so it will be more advisable to use your RRSP. But you can only withdraw upto 20000 and you must be a first time home buyer to qualify. You need to pay back the RRSP you borrowed in a matter of a few years. You may also use your own line of credit to pay for the 20%. Citibank Credit Card, ING, PC credit Card are very good source to get cheap financing.