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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: : ^- F$ F4 P- U+ ]/ a0 w
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0 a: F$ K5 ?8 z! i$ D; ]2 D* I! p2 cYou and your spouse can each borrow up to $20,000.
) q) T h4 g) U0 }& BThe funds must have been on deposit at least 90 days before you withdrew them.
( s: V, d' p0 q; j/ V+ \, }6 OAt least 1/15 of the funds must be repaid each year, beginning two years after the funds were withdrawn. 5 Z8 G: O$ e" z3 A/ L r
A signed agreement to buy or build a qualifying home is required.
+ P& u; |3 s1 f, p* d1 g6 R, AYou can only participate in the program once. |
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