Home Buyers' Plan (HBP)

FederalHousingChecked October 2, 2026

The Home Buyers' Plan lets you borrow from your RRSP, tax-free, to buy or build your first home. You must pay the money back into your RRSP over time.

How much

Withdraw up to $60,000 from your RRSPs. For first withdrawals from 2026 to 2028, repayment starts in the fifth year after the withdrawal.

When it's paid

Not a payment — an RRSP withdrawal you repay over time.

Who qualifies

You are a first-time home buyer (or helping a person with a disability)
You have a written agreement to buy or build a qualifying home
You plan to live in the home as your main residence
You are a resident of Canada

How to apply

Sign an agreement to buy or build a qualifying home
Fill out Form T1036 and give it to your RRSP issuer
Receive funds without tax withheld
Make yearly repayments starting in the required year

What to have ready

Form T1036
Purchase or build agreement
RRSP account details

Common mistakes to avoid

Missing repayments (unpaid amounts become taxable income)
Withdrawing from RRSP contributions made within 90 days
Assuming you can't use the FHSA at the same time (you can)

Still being confirmed: The 90-day contribution rule and full first-time buyer definition were not re-checked. Check the official page for the latest details.

Official sources

CRA – What is the Home Buyers' Plan ↗

Last checked against these pages on October 2, 2026.

First Home Savings Account (FHSA)The FHSA lets first-time home buyers save for a home with tax-deductible contributions and tax-free growth. Qualifying…

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BenefitCanada is independent and not affiliated with any government. This guide summarizes official sources in plain language; rules and amounts change, so always confirm on the official page before applying.