The Home Buyers' Plan
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The Home Buyers' Plan
The Home Buyers' Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person. Currently, the HBP withdrawal limit is $60,000.
Note
You can withdraw amounts from your RRSP under the HBP and make a qualifying withdrawal from your first home savings account (FHSA) for the same qualifying home, as long as you meet all of the conditions at the time of each withdrawal. For information about FHSA, go to First home savings account (FHSA).
Temporary repayment relief for HBP
The Home Buyers' Plan (HBP) temporary repayment relief has been extended for individuals making a first HBP withdrawal between January 1, 2026, and December 31, 2028. As a result, the start of the 15-year repayment period is deferred to the fifth year following the year of the first withdrawal, rather than the second year under the previous rules. For example, if you made your first HBP withdrawal in 2026, your first repayment year will be 2031. This measure extends the relief introduced in Budget 2024 which applies to withdrawals made between January 1, 2022, and December 31, 2025.
Sections
- How to participate in the Home Buyers' Plan
- Home Buyers' Plan (HBP) eligibility and RRSP withdrawal conditions
- How to make withdrawals from your RRSPs under the Home Buyers' Plan
- Follow the steps to make a withdrawal from your registered retirement savings plans (RRSPs)
- How to repay the amounts withdrawn from your RRSPs under the Home Buyers' Plan
- When and how much to repay, how to make a repayment and exceptions to repayment dates
- How to cancel a participation in the Home Buyers’ Plan
- Situations when you can cancel your participation, how to cancel and due dates
- How to report Home Buyers' Plan repayments on your income tax and benefit return
- Find out which form to fill out and file with your income tax and benefit return
- The Home Buyers' Plan (HBP): Understanding eligibility and withdrawals
- Learn about common mistakes that can impact your HBP and discover how to avoid them
Related information
Contributions to a PRPP
References to the pooled registered pension plan (PRPP) in the HBP information pages
Definitions for the Home Buyers' Plan
Definitions of some of the terms for the HBP
Related forms and publications
- Form T1036, Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP
- Schedule 7, RRSP, PRPP, and SPP Contributions and Transfers, and HBP and LLP Activities
- Form RC471, Home Buyers' Plan (HBP) – Cancellation
- Form RC98, Election to transfer the Home Buyers’ Plan (HBP) or Lifelong Learning Plan (LLP) balance at time of death
Page details
2026-02-17