Mortgage Tips

Here’s another option to look at if you don’t have enough for a down-payment.

The Home Buyers’ Plan (HBP) allows you to withdraw money from your Registered Retirement Savings Plan (RRSP) tax-free to use for a down payment. (You must meet certain conditions to be eligible for the HBP)

Tip

You can withdraw up to $25,000 from your RRSP. (Contributions must be in your account for at least 90 days before they can be used for the HPB. If you buy the home together with your spouse, partner or someone else, each of you can withdraw up to $25,000)

Original article from: www.canada.ca