May 26, 2017 | Nathan Michaels
First-time Home Buyers' Plan offers a path to ownership
A house can be a great investment, but saving enough for a down payment can be difficult. The Home Buyers' Plan (HBP), offered by the Government of Canada, is a program that aids the purchase of a first home by allowing part of a registered retirement savings plan (RRSP) to be withdrawn as a tax-free down payment in cash.
"This is about the only program that is available now through the federal government," said David P. Brown, president of CREB®.