The Home Buyers Plan also known as HBP is a program that allows you to withdraw from your RRSP. You can withdraw up to $25,000 per year to buy or build a home. In order to take advantage of this you must be considered a first-time homebuyer and intend to occupy the home as your principal place of residence.
A certified financial planner can help you understand this type of withdrawal, it’s payback schedule, further details on how to qualify and if it’s the right option for you.
