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HBP
The Home Buyer's Plan allows you to borrow funds from your RRSP to purchase your first home. Here are some of the key facts: ) _, B7 O8 u+ r5 w0 u- l
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You and your spouse can each borrow up to $20,000.
; G, t8 y$ W" p% a3 S% aThe funds must have been on deposit at least 90 days before you withdrew them. j0 Y9 t; h% Y6 m! p4 t8 i9 v
At least 1/15 of the funds must be repaid each year, beginning two years after the funds were withdrawn.
) Y" G y7 q& N, ?7 ~" [A signed agreement to buy or build a qualifying home is required.
h3 D' \) e4 m; W/ {2 s+ k8 cYou can only participate in the program once. |
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