Program · Federal
RRSP Home Buyers' Plan (HBP)
Withdraw up to $60,000 from your RRSP tax-free, repay over 15 years.
Eligibility
- First-time home buyer by CRA's four-year look-back definition
- Funds must have been in the RRSP for at least 90 days before withdrawal
- Must have a written agreement to buy or build a qualifying home
- Must intend to occupy as principal residence within one year
Limits and rules
- Maximum withdrawal: $60,000 per person ($120,000 per couple)
- Repayment: 1/15th per year over 15 years, starting year 2 (year 5 for withdrawals in 2022-2025)
- Missed repayments are taxed as income in the year missed