First Time Home Buyer Report

Request our First Time Home Buyer Report at www.kmortgage.ca/firsthome

See how easy buying a home can be. Share it with your clients, family and friends! The Kupina Mortgage Team will guide you through the home buying and mortgage process allowing you to concentrate on the excitment of finding a home!

The Home Buyers’ Plan

The Home Buyers' Plan (HBP) is a program for first-time homebuyers that allows you to withdraw funds from your RRSPs to buy or build a home. You can withdraw up to $25,000 tax-free ($50,000 for a couple). Your RRSP contributions must remain in the RRSP for at least 90 days before you can withdraw them under the HBP. Generally, you have to repay all withdrawals to your RRSPs within a period of no more than 15 years. You'll have to repay an amount to your RRSPs each year until your HBP balance is zero. If you don't repay the amount due for a year, it will have to be included in your income for that year.

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