Why You Should Think About the RRSP Home Buyers Plan A Registered Retirement Savings Plan can be an important method of making your down payment on your mortgage. The home buyers plan offered by the Canadian Government enables first time home purchasers to borrow as much as $25,000 from your RRSP tax rate to make your down payment. In the event that you are eligible to purchase a home with another first-time home buyer, you can both tap into $25,000 from your RRSP for a total of $50,000. Since the HBP is classified as a loan, however, you need to ...
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