Are you dreaming of buying your first home, but you do not have the funds for your down payment? The RRSP is an effective way to purchase your dream home, thanks to the government program called HBP.
The HBP allows you to use up to $35,000 of your RRSP for the down payment required to purchase a first house without paying tax upon withdrawal. You can take advantage of the HBP more than once if you have fully repaid the previous HBP on time.
Using the HBP without RRSPs
Even if you have never contributed to an RRSP or have little savings, we can help you to participate in the HBP: