The Home Buyers' Plan 


The Home Buyers' Plan (HBP) is a program offered by the Government of Canada to help first-time home buyers get into the market. If you're eligible, you can withdraw up to $35,000 from your registered retirement savings plan (RRSP) towards the down payment on your first home. If you and someone else are buying a home together, you can each withdraw from your individual RRSPs to withdraw a combined $70,000. The withdrawal is tax-free as long as it's paid back within 15 years. 
To qualify for the HBP, you must:

  • Be a first-time home buyer
  • Be a resident of Canada 
  • Use the home within a year of purchasing it or building it 


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