Tax Guide/Saving and investing
Home Buyers' Plan (HBP)
Updated November 4, 2026
The Home Buyers' Plan lets a first-time buyer withdraw up to $60,000 from an RRSP without tax. Couples who each qualify can each use their own limit.
Key rules
- You must have a written agreement to buy or build a qualifying home, and intend to live in it.
- Contributions must usually stay in the RRSP for at least 90 days before withdrawal.
- Repayment is over up to 15 years, usually beginning the second year after withdrawal.
- A required payment you miss is added to your income for that year.
The first repayment was temporarily delayed by three more years for withdrawals made from 2022 to 2025. You can use the HBP together with an FHSA.