Home Buyers' Plan (HBP)

A government program that allows you to borrow funds from your RRSPs to purchase or build your home.

 You may participate in the Home Buyers' Plan more than once, as long as you have repaid your previous withdrawal in full and within the prescribed time period.

Features

• Borrow up to $20,000 from your RRSP (up to $40,000 per couple), tax free, to purchase a new or existing home.
• Withdraw from your RRSP tax free.
• Gives you 15 years in which to reimburse your RRSP interest free.

Eligibility

You are eligible for the HBP if you and your spouse have not owned your principal place of residence at any time during the year you make your RRSP withdrawal and the four preceding years.

Buying a home without RRSPs

Not contributing to an RRSP and having little savings at your disposal are no reasons to disregard the HBP.

Desjardins is there to help you access the HBP. Here's how:

• Borrow the amount corresponding to your maximum RRSP contribution from your Desjardins caisse.
• Deposit it into a Desjardins RRSP for at least 90 days.
• Withdraw this non-taxable amount from your RRSP and pay back your loan from the caisse.
• Use your income tax refund as a downpayment for the acquisition of a residence.
• You'll then have up to 15 years to reimburse your RRSP.

	At the caisse (Members and non-members)	Make an appointment with a caisse advisor: online by phone

Certain conditions apply. Details may change without notice.