The Home Buyers Plan
This plan of the federal government allows people to borrow money from their RRSP to be used as a down payment on the purchase of a residential property in Canada.
Here are the details:
- Up to $25,000 per person on title can be used;
- You cannot have owned a property in the last five years;
- You must pay yourself back over the next 15 years;
- The money must have been in your RRSP account for at least 90 days prior to being withdrawn for use in the purchase.
For full details click here.