🏡 Unlock your path to homeownership with the Home Buyer's Plan (HBP)! This program lets you use your RRSP to boost your down payment. Here’s what you need to know:
Who Qualifies: First-time buyers or those who haven’t owned a home in 4+ years qualify. Exceptions include people with disabilities or those helping someone with a disability.
Repayment Rules: Repay your RRSP within 15 years, starting the second year after withdrawal. Funds must be reimbursed to avoid taxes.
Accessing Funds: RRSP funds must be in your account for at least 90 days. The HBP allows withdrawals up to $35,000 per person or $70,000 per couple.
Need more details? Let’s chat about how the HBP can strengthen your down payment strategy! 🏦
