RRSP / TFSA Private Mortgage Checklist
How registered money is supposed to move — trustee, lawyer, title.
A gated process checklist for Canadians placing RRSP/TFSA capital into a private mortgage: trustee eligibility, arm’s-length, lawyer’s trust, security, and your own counsel.
Avoid a prohibited transaction
Lending to yourself from an RRSP is how people blow up the account. Arm’s-length is on line one.
Lawyer’s trust is not optional
The checklist does not include a personal email requesting an e-transfer from the trustee.
You need your own lawyer
The borrower’s solicitor is not yours. Printed so it is not implied.
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Self-directed RRSP, TFSA, or RRIF — not a standard bank RRSP
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Trustee administers private / non-arm’s-length mortgages (ask before you move funds)
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Written fee schedule: annual admin, per-mortgage setup, discharge
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Contribution room and cash available to fund (plus legal and trustee fees)
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You are not lending to yourself, a family member, or a corporation you control
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Trustee has confirmed the proposed mortgage is not a prohibited investment
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If the answer is unclear, stop and have the trustee put it in writing
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First or subsequent charge, and the lender name that will appear on title
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Loan-to-value band and how value will be supported (appraisal / opinion)
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Term (typically 6–24 months) and how interest is paid (monthly / quarterly / accrued)
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Property type, province, and occupancy (owner-occupied, rental, development)
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Exit: refinance, sale, or payout at maturity — and who is responsible for it
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Capital moves through a lawyer’s trust account — not to a personal account
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Mortgage is registered at the land registry in the name of the registered plan (or you, for cash)
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You receive a copy of the registered charge, commitment, and solicitor reporting letter
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Insurance / tax status on the property is confirmed before advance
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Government ID and trustee account details
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Approximate capital and whether it is cash, RRSP, TFSA, or mixed
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Timeline (ready now vs 3–6 months)
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Questions on default (Power of Sale / foreclosure process in that province)
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Book a 30-minute pipeline review with Scott: lendcity.ca/invest-in-private-mortgages/#book
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Or call LendCity™ at 1-226-783-1640
- Can I lend my RRSP to my own rental corporation?
- Treat related-party lending as prohibited unless your trustee and tax advisor explicitly say otherwise. This checklist assumes arm’s-length.
- Does LendCity™ take the RRSP as a deposit?
- No. Capital moves trustee → lawyer’s trust → registered charge. We can walk the process; we are not the trustee.
Email to download
Name and email. We send the file and can follow up on the matching desk.