Home buyer plan

Home buyer plan

BUYING YOUR FIRST HOME; New Home Buyer Plan

Home Buyers' Plan                                                                             The Home Buyers' Plan (HBP) allows you to withdraw money from your Registered Retirement Savings Plan (RRSP) tax-free to use for a down payment. You must meet certain conditions to be eligible for the HBP. For more information, contact the Canada Revenue Agency (CRA). How much can you withdraw? You can withdraw [...]

By |2017-01-04T01:02:26+00:00June 13th, 2013|Mortgage Tips|0 Comments

RRSP Home Buyers’s Plan

One great source of funding for your mortgage down payment is a Registered Retirement Savings Plan (RRSP). The Canadian government's Home Buyers' Plan allows you to borrow from your RRSP up to $25,000 for a down payment, tax-free. Since this is a loan, it must be repaid, and the repayment term is 15 years. First-time [...]

By |2017-01-04T01:02:37+00:00August 28th, 2011|Mortgage Tips|1 Comment