Buy your first home with your RRSPs.
Is this savings plan for you?
Main feature :RRSP withdrawal without paying taxes
Maximum withdrawal :$25,000 from the RRSP ($50,000 for a couple)
Repayment :15-year period to repay the amount withdrawn without interest
The Home Buyers’ Plan is a very flexible program that lets you use your RRSP to buy your first home. Even if you haven’t contributed to an RRSP but you have some money put aside, it’s possible to take advantage of the HBP. Here’s how:
You may participate in the Home Buyers’ Plan more than once, as long as you have repaid your previous withdrawal in full and within the prescribed time period.
To find out more, Visit the Government of Canada Web site.