Home Buyers' Plan (HBP)

HBP - Home Buyers' Plan

Use your RRSP to buy your home, without paying income tax

  • Withdraw up to $35,000 per borrower and up to $70,000 per couple
  • You have 15 years to pay back the amount withdrawn, interest-free
Use the HBPGet this product - Home Buyers' Plan (HBP)

What's the HBP?

The Home Buyers' Plan is a government program that lets you borrow from your RRSP tax-free to buy or build your home. You then have 15 years to pay back the amount you withdrew, interest-free.

Are you eligible?

You're eligible if you and your spouse were not the owner-occupants of a principal residence during the year of the RRSP withdrawal and the previous 4 years.

You can use the HBP more than once if you've paid back your previous HBP in full by the deadline.

Learn more about the Home Buyers' Plan, see the Canada Revenue Agency site - External link. This link will open in a new window..

HBP with no RRSP

You can still use the Home Buyers' Plan if you have few savings put aside or you haven't contributed to an RRSP.

Here's how:

  1. Borrow the amount you need from your caisse, but stay within the maximum RRSP contribution room available to you.
  2. Deposit that amount in a Desjardins RRSP for at least 90 days.
  3. Withdraw these non-taxable funds from your RRSP and repay your loan to the caisse.
  4. Use your income tax refund as a down payment on the purchase of a property.
  5. You have 15 years to put the money back into your RRSP.
Use the HBPGet this product - Home Buyers' Plan (HBP)

More to consider

Online tools

My First Home on AccèsD

Thinking about buying a home?

Log in to AccèsD or the mobile app. Go to the Home section and we'll guide you through the process.

New online mortgage pre-approval

Apply for a mortgage pre-approval online with just a few clicks and receive an instant response.

Go to My First Home


  1. Find out your recommended price range and maximum purchase price.
  2. Compare the costs of your favourite properties.
  3. Get pre-approved online.
  4. Make a purchase offer.
  5. Get home and mortgage insurance quotes.
  6. Finalize the sale.
  7. Get ready to move.