Using the RRSP Home Buyers' Plan for your down payment
Doorvia Guides · September 1, 2026
The Home Buyers' Plan lets eligible first-time buyers withdraw from an RRSP tax-free, then repay it over time.
The federal Home Buyers' Plan allows an eligible first-time buyer to withdraw from a registered retirement savings plan without immediate tax to buy or build a qualifying home. The withdrawal limit was increased to $60,000 per person, so a couple can access substantially more.
The money must be repaid to your RRSP over a set repayment period, and amounts you fail to repay in a given year are added to your taxable income. Funds generally must have been in the RRSP for at least 90 days before withdrawal.
Many buyers combine an FHSA with the Home Buyers' Plan. Talk to your lender and an accountant about the order of withdrawals, since the repayment obligation makes the HBP different in kind from FHSA money.
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