Did you know that you can use your RRSPs for your down payment on your first home? You can by using the Home Buyers’ Plan (HBP).
What is HBP?
The HBP is a program that allows you to withdraw up to $20,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home.
You can click the link below to find out more about the Home Buyers’ Plan.
http://www.cra-arc.gc.ca/E/pub/tg/rc4135/rc4135-e.html#P90_8353
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