What is the Home Buyers' Plan (HBP)?

The Home Buyers' Plan (HBP) is a program that allows you to withdraw funds from your registered retirement savings plans (RRSPs) to buy or build a qualifying home. You can withdraw up to $35,000 in a calendar year.

What is a qualifying home?

Don't confuse the Home Buyers' plan with the Home Buyers' Amount tax credit. The Home Buyer's plan is a loan from your RRSP. The Home Buyer's Amount is a non-refundable tax credit.