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Kevin knows it is not ideal to retire with a mortgage, but he has always rented and is now ready to buy a condo in

Kevin knows it is not ideal to retire with a mortgage, but he has always rented and is now ready to
buy a condo in downtown Montreal, five years before he retires. He has visited several condos and
will be making an offer on December 1,2023. To date, he has saved $15,000 for which he will use
as part of the downpayment along with the maximum he can withdraw from his Registered
Retirement Savings Account (RRSP) under the Home Buyer's Plan (HBP). He currently has
$455,942 in his RRSP. What would be the minimum conventional mortgage Kevin could assume?
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