The Home Buyers' Plan
The Home Buyers' Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person. Currently, the HBP withdrawal limit is $60,000.
Note
You can withdraw amounts from your RRSP under the HBP and make a qualifying withdrawal from your first home savings account (FHSA) for the same qualifying home, as long as you meet all of the conditions at the time of each withdrawal. For information about FHSA, go to First home savings account (FHSA).
Temporary repayment relief for HBP
The Home Buyers' Plan (HBP) temporary repayment relief has been extended for individuals making a first HBP withdrawal between January 1, 2026, and December 31, 2028. As a result, the start of the 15-year repayment period is deferred to the fifth year following the year of the first withdrawal, rather than the second year under the previous rules. For example, if you made your first HBP withdrawal in 2026, your first repayment year will be 2031. This measure extends the relief introduced in Budget 2024 which applies to withdrawals made between January 1, 2022, and December 31, 2025.
Related information
Contributions to a PRPP
References to the pooled registered pension plan (PRPP) in the HBP information pages
Definitions for the Home Buyers' Plan
Definitions of some of the terms for the HBP
Related forms and publications
- Form T1036, Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP
- Schedule 7, RRSP, PRPP, and SPP Contributions and Transfers, and HBP and LLP Activities
- Form RC471, Home Buyers' Plan (HBP) – Cancellation
- Form RC98, Election to transfer the Home Buyers’ Plan (HBP) or Lifelong Learning Plan (LLP) balance at time of death