Home Buyer's Plan

The Home Buyers' Plan (HBP) is a government program which allows first-time home buyers like you to gain financial autonomy. You can become happy homeowners while at the same time building a retirement fund within a Registered Retirement Savings Plan (RRSP).

Is the HBP Right for Me?

Of course! And what's more, while you're fulfilling your dream of owning a home, you'll also be getting income tax refunds worth thousands of dollars. For spouses who work, these refunds can be between $20,000 and $30,000, which is quite sufficient to purchase your first home. The HBP allows each taxpayer to withdraw up to $35,000, tax-free, from their Registered Retirement Savings Plan (RRSP) to purchase a home.

But I've Never Contributed to an RRSP...

It doesn't matter. You can still take advantage of the HBP, as long as you are earning, or have earned in the past, an income entitling you to contribute to an RRSP. By contributing the maximum possible amount to your RRSP, you'll receive generous income tax refunds.

But I Don't Have Enough Money to Contribute to an RRSP...

You can borrow an amount equal to your past unused RRSP rights (up to $ 35,000) from your financial institution to contribute to your RRSP to create a large tax deduction and receive a substantial tax return, which you will use for the purchase of your home. After this 90-day loan, you can withdraw the amount contributed to your RRSP (without taxes) and repay your loan. Thereafter, you will have nearly 18 years to reinject the funds into your RRSP, without interest. A simple method with great results!

How can I get more information about the RAP?

Consult one of the RE/MAX® brokers in your area. They have received special training about the HBP to help you purchase a home. They will gives you more details on this generous government program.

Still Have Some Doubts?

"Our experience over the past year has shown us that the HBP is a wonderful tool to help you purchase your first home."

"We never imagined we'd be able to buy a home. But we were curious about the HBP program, and to our great surprise, each of us was eligible for a $35,000 income tax deduction under the program. We bought a nice bungalow for $328,000."
Mr. Jean-François Therrien and Christine Cholette

"This program gave us the double benefit of purchasing a revenue property, and having our little family live in the building as well. The HBP also allowed us to make a 25% down payment on our triplex."
Mr. Luc Janson and Magali Jodoin and their son Charles David

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