Team Bansari
30 Top Flight Dr L5S0A8 Mississauga, ON, Canada

What is the Home Buyers' Plan (HBP)? The Home Buyers' Plan (HBP) is a Canadian government program. It lets eligible individuals1 withdraw up to $35,000 each fro...m their Registered Retirement Savings Plan (RRSP) to buy, build or maintain a qualifying home. You don’t have to pay income tax on the funds as long as you repay the full amount you withdraw from your RRSP over the next 15 years. If the full $35,000 is withdrawn, the minimum annual repayment is just $2,333. Conditions apply. 1 Eligible individuals are: first-time home buyers and their spouse or partner; or those who are living separately and apart from a spouse or common-law partner for at least 90 days and started living separately and apart in the preceding 4 years as a result of a relationship breakdown. With the federal government's Home Buyers' Plan, you can use up to $35,000 of your RRSP savings ($70,000 for a couple) to help finance your down payment on a home. To qualify, the RRSP funds you're using must be on deposit for at least 90 days. You must also provide a signed agreement to buy or build a qualifying home.

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Just Released! Access TRREB’s latest Market Watch Report for insights on record level sales and new listings, condos, statements from TRREB Spokespeople and more. Find the full report here: https://bit.ly/38d4G0b #TRREB #MarketWatch

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