|
Using Your RRSPs to Increase Your Downpayment through the Home Buyers' Plan (HBP)
You don’t have enough cash to
purchase the home you want? Instead of looking for a less expensive
home or deferring your purchase until next year, take advantage of the
Home Buyers’ Plan (HBP). The HBP allows you to withdraw up to $20,000
from your registered retirement savings plan (RRSP) to purchase your first
home or a new home if you have not been a homeowner for at least five
years.
If you and your spouse are eligible for the
HBP, you can withdraw up to $40,000 in cash.
 |
You would like to take advantage of the HBP, but
you don’t have enough cash in your RRSP?
|
We can grant you an HBP loan. If you have not
contributed fully to your RRSPs in recent years, we can offer you a low-cost
loan
in an amount that is equal to or lower than the total of your unused contributions.
|
For further information
|
To find out all the requirements of the plan,
consult the document entitled Home Buyers’ Plan (HBP), published
by the Canada Customs and Revenue Agency (RC 4135).
For further information on the HBP, do not hesitate
to contact us.
|
