Use Your RRSPs As Down payment with the Home Buyer’s Plan

Get into a home using your RRSPs with no penalties

  • use a maximum of $25,000 in RRSPs for each applicant with no tax penalties
  • maximum of two new homebuyers per application for a total maximum RRSPs down payment of $50,000
  • the withdrawn funds need to be repaid into your RRSPs account within 15 years, with minimum annual payments of 1/15th of the withdrawn amount

Owner occupied properties only
Competitive fixed or variable interest rate mortgages with high ratio 25 years to conventional 30 year amortizations are available for new construction or existing properties. Canada Mortgage and Housing Corporation (CMHC), Genworth, or Canada Guaranty (CG) insure these types of mortgages.

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