Jose and Maria Dias bought their first home in Milton,

Jose and Maria Dias bought their first home in Milton, Ontario, two years ago. The purchase price was $500,000. They were determined to get a conventional mortgage and were able to come up with a down payment of $100,000 by combining $20,000 in gifts received from their parents, saving another $30,000, and borrowing $25,000 from their RRSPs each. They were approved for a 3.5 percent 25-year mortgage for $400,000 with monthly payments of $1,997.07. In addition, they chose to pay the lender anothe

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