Home Buyers’ Plan (HBP)

Home buyers’ plan (HBP) is a government program which allows you to borrow funds from your registered retirement savings plan (RRSP) tax free to buy or build your home.

The main features of this program are:

    • you can withdraw up to $25,000 ($50,000 per couple)
    • withdraws from RRSP are tax free
    • repay your withdraws to your RRSP within a period of no more than 15 years.

A number of conditions have to be met in order to participate in the HBP.