Download How Does The Home Buyers Plan Work Images. The home buyers plan is a government program where you can withdraw $25,000 from your rrsp for the purchase of your first home without being taxed. Make sure the money you want to withdraw is in your rrsp for at least 90 days before.
You can borrow up to $35,000 from your rrsp to buy or build your first principal residence.
Renting, buying a home and choosing the right mortgage. This will protect it in the before you buy to do list. First, any amount of money that you plan to withdraw from your rrsp has to sit in the rrsp for at least 90 days. Multilanguage sites do not provide full access to all content on cibc.com.