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Frank Hanlon Sales Representative

IPro Realty Ltd. Brokerage

Toll Free: 1-877-306-IPRO(4776)

Report: Home Buyers Plan

The Government of Canada's Home Buyers Plan allows qualified buyers to withdraw from their RRSP's to purchase or build a house. If your spouse is also eligible you can each withdraw RRSP's towards the down payment.


Please complete the form below to have this report e-mailed to you immediately.
Home Buyers Plan


Government Increases RRSP withdrawal limit for first-time home buyers!!

 

In its 2009 budget, the federal government announced it would provide first-time home buyers with additional access to their RRSPs to purchase or build a home by increasing the withdrawal limit to $25,000 from the previous $20,000, under the Home Buyers' Plan (HBP).

 

If your plan includes a non-locked-in RRSP and you qualify as a first-time buyer, you might want to consider withdrawing money under this plan.

Other Criteria for the plan:

  • The house must be built by Oct. 1 of the year after the withdrawal.
  • Repayment begins the second year after the withdrawal.
  • The house must be your principal residence

However, you should be aware of how such a withdrawal can impact your long-term savings. 

 

 REQUEST TO WITHDRAW FUNDS FROM AN RRSP

 

 

We only collect personal information necessary to effectively market and sell the property of sellers, to assess, locate and qualify properties for buyers and to otherwise provide professional services to clients and customers.  I/We do not sell, trade, transfer, rent or exchange your personal information with anyone.


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