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• Home Buyer's Plan (HBP)
  How to withdraw up to $25,000 from your (RRSPs) to buy a home

• Land Transfer Tax Refund
  First-time homebuyers may be eligible for a refund of all or part of the tax.

• Home buyers' tax credit (HBTC)
  Non-refundable tax credit, based on an amount of $5,000,

• CMHC / GE Mortgage Loan Insurance
  How much does CMHC Mortgage Loan Insurance Cost?

• H.S.T New housing rebate
  Buyers of new homes receive a rebate of up to $24,000

• Mortgage calculator
  Rent vs Buy | Calculate monthly payments

• Home Buying Expenses
  List of closing costs your lawyer will present you on the day of closing

• Buyer Representation Agreement
  The benefit of signing B.R.A explained

• Ontario Real Estate forms
  Standard Forms explained in plain language

• Mortgage Pre-Approval vs Pre-Qualify
  These terms may sound the same, but they mean very different things ...

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Home Buyers' Plan (HBP)

The Home Buyers' Plan (HBP) is a program that allows you to withdraw up to $25,000 from your registered retirement savings plan (RRSPs) to buy or build a qualifying home for yourself. Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP, or they may not be deductible for any year.

Generally, you have to repay all withdrawals to your RRSPs within a period of no more than 15 years. You will have to repay an amount to your RRSPs each year until your HBP balance is zero. If you do not repay the amount due for a year, it will have to be included in your income for that year.

Do you qualify?
How and when to withdraw funds from RRSPs?
How to withdraw for the Home Buyers' Plan (HBP),
When and how much to repay, how to make a repayment and exceptions to repayment dates

Get answers to all these question here

QUESTIONS?

Call or text Rita Garami for more information at 416-704-8265
email sales@oakvilleremax.com

Rita Garami / Sales Representative | Gabor Sallai / Broker
Office: (905) 338-9000 Direct (416) 704-8265 Email us
RE/MAX Aboutowne Realty Corp. Brokerage