Home Buyers' Plan (HBP) Guide
Under the Home Buyers' Plan, you can withdraw up to $60,000 from your RRSPs to buy or build a qualifying home, without paying tax on the withdrawal, as long as you repay it.
Calculator
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Minimum yearly repayment
$4,000
Over 15 years
Repayments run
2031 – 2045
Includes the temporary later start for first withdrawals in 2022–2028
Amounts you don't repay in a year are added to your income for that year. Confirm your schedule in your CRA account.
Repayment
You repay the amount over 15 years. Repayments normally start in the second year after the withdrawal. For first withdrawals in 2022–2028, a temporary measure delays the start to the fifth year. Amounts you don't repay in a year are added to your taxable income.
Combining with an FHSA
You can use both for the same home. Together with FHSA savings (up to $40,000), that can cover a large part of a down payment.
Rules to watch
- RRSP contributions must stay in the account for at least 90 days before you withdraw them under the plan, or they may not be deductible.
- You must buy or build the home before October 1 of the year after the withdrawal.
- Missed repayments are added to your taxable income for that year.
Plan your withdrawal
Calculator
Results update as you type · Nothing you enter leaves your browser
Minimum yearly repayment
$4,000
Over 15 years
Repayments run
2031 – 2045
Includes the temporary later start for first withdrawals in 2022–2028
Amounts you don't repay in a year are added to your income for that year. Confirm your schedule in your CRA account.
Frequently asked questions
Can couples both use the Home Buyers' Plan?
Yes. Each eligible person can withdraw up to $60,000 from their own RRSPs for the same home.
Sources
Rules are summarized in our own words from official publications. Check the source and talk to your lender or a licensed professional before making a decision.
Informational only, not financial advice. Data as of the release snapshot generated 2026-11-12.