{"id":155,"date":"2026-04-28T13:07:35","date_gmt":"2026-04-28T13:07:35","guid":{"rendered":"https:\/\/donemortgage.ca\/blogs\/?p=155"},"modified":"2026-06-09T20:07:29","modified_gmt":"2026-06-09T20:07:29","slug":"home-buyers-plan-canada","status":"publish","type":"post","link":"https:\/\/www.donemortgage.ca\/blogs\/home-buyers-plan-canada\/","title":{"rendered":"Home Buyers\u2019 Plan (HBP): How RRSP Withdrawals Really Work"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Home Buyers Plan Canada<\/strong> allows eligible first-time home buyers to withdraw up to $60,000 from their RRSP to help fund a home purchase. While this can improve affordability, many buyers overlook the long-term impact on retirement savings and future wealth creation.<\/p>\n\n\n\n<div class=\"wp-block-rank-math-toc-block\" id=\"rank-math-toc\"><nav><ul><li class=\"\"><a href=\"#what-the-home-buyers-plan-hbp-actually-is\">What the Home Buyers\u2019 Plan (HBP) Actually Is<\/a><\/li><li class=\"\"><a href=\"#how-much-you-can-withdraw\">How Much You Can Withdraw<\/a><\/li><li class=\"\"><a href=\"#repayment-timeline-with-example\">Repayment Timeline (With Example)<\/a><\/li><li class=\"\"><a href=\"#what-happens-if-you-miss-repayments\">What Happens If You Miss Repayments<\/a><\/li><li class=\"\"><a href=\"#how-hbp-impacts-your-retirement-most-ignored-part\">How HBP Impacts Your Retirement (Most Ignored Part)<\/a><\/li><li class=\"\"><a href=\"#common-mistakes-first-time-buyers-make\">Common Mistakes First-Time Buyers Make<\/a><ul><\/ul><\/li><li class=\"\"><a href=\"#does-using-hbp-make-your-mortgage-stronger-or-weaker\">Does Using HBP Make Your Mortgage Stronger or Weaker?<\/a><ul><\/ul><\/li><li class=\"\"><a href=\"#smarter-alternatives-most-people-ignore-these\">Smarter Alternatives (Most People Ignore These)<\/a><ul><\/ul><\/li><li class=\"\"><a href=\"#faq\">FAQ<\/a><ul><\/ul><\/li><\/ul><\/nav><\/div>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<h2 id=\"what-the-home-buyers-plan-hbp-actually-is\" class=\"wp-block-heading\">What the Home Buyers\u2019 Plan (HBP) Actually Is<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">The <strong>Home Buyers\u2019 Plan (HBP)<\/strong> lets you pull money from your RRSP to buy a home.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You can withdraw <strong>up to $60,000 per person<\/strong><\/li>\n\n\n\n<li>Couple = <strong>$120,000 total<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Sounds great? Yes.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But here\u2019s the reality:<br>\ud83d\udc49 It\u2019s <strong>not free money<\/strong><br>\ud83d\udc49 It\u2019s a <strong>loan from your future retirement<\/strong><\/p>\n\n\n\n<h2 id=\"how-much-you-can-withdraw\" class=\"wp-block-heading\">How Much You Can Withdraw<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Individual: <strong>$60,000<\/strong><\/li>\n\n\n\n<li>Couple: <strong>$120,000<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Conditions:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Must be a <strong>first-time home buyer<\/strong> (or meet CRA exceptions)<\/li>\n\n\n\n<li>Funds must be in RRSP for <strong>at least 90 days<\/strong><\/li>\n<\/ul>\n\n\n\n<h2 id=\"repayment-timeline-with-example\" class=\"wp-block-heading\">Repayment Timeline (With Example)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">You don\u2019t repay immediately.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Repayment starts <strong>after 2 years<\/strong><\/li>\n\n\n\n<li>Total repayment period: <strong>15 years<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Example:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You withdraw: $60,000<\/li>\n\n\n\n<li>Annual repayment: <strong>$4,000\/year<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">If you skip:<br>That year\u2019s amount gets added to your <strong>taxable income<\/strong><\/p>\n\n\n\n<h2 id=\"what-happens-if-you-miss-repayments\" class=\"wp-block-heading\">What Happens If You Miss Repayments<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s not sugarcoat this.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If you don\u2019t repay:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>CRA treats it as <strong>income<\/strong><\/li>\n\n\n\n<li>You pay <strong>tax on that portion<\/strong><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Example:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Miss $4,000 repayment<\/li>\n\n\n\n<li>That $4,000 is added to your income<\/li>\n\n\n\n<li>You pay tax based on your bracket<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">It\u2019s basically a <strong>forced tax penalty<\/strong><\/p>\n\n\n\n<h2 id=\"how-hbp-impacts-your-retirement-most-ignored-part\" class=\"wp-block-heading\">How HBP Impacts Your Retirement (Most Ignored Part)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This is where people mess up badly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">You\u2019re pulling money out of a <strong>tax-deferred growth engine<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Let\u2019s say:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You withdraw: $60,000<\/li>\n\n\n\n<li>Average return: 6%<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">After 15 years, that money could have been:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\ud83d\udc49 ~$143,000<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Instead:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>You\u2019re slowly putting it back<\/li>\n\n\n\n<li>Missing compounding growth<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Real cost = <strong>lost investment growth<\/strong>, not just the withdrawal<\/p>\n\n\n\n<h2 id=\"common-mistakes-first-time-buyers-make\" class=\"wp-block-heading\">Common Mistakes First-Time Buyers Make<\/h2>\n\n\n\n<h3 id=\"1-using-hbp-without-a-repayment-plan\" class=\"wp-block-heading\">1. Using HBP Without a Repayment Plan<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">They assume \u201cI\u2019ll handle it later\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Reality:<br>Most don\u2019t \u2192 leads to tax hits<\/p>\n\n\n\n<h3 id=\"2-emptying-their-rrsp-completely\" class=\"wp-block-heading\">2. Emptying Their RRSP Completely<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Now they have:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>No retirement cushion<\/li>\n\n\n\n<li>No emergency buffer<\/li>\n<\/ul>\n\n\n\n<h3 id=\"3-using-it-when-they-dont-need-it\" class=\"wp-block-heading\">3. Using It When They Don\u2019t Need It<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you already have enough down payment:<br>You\u2019re just hurting future wealth<\/p>\n\n\n\n<h3 id=\"4-ignoring-opportunity-cost\" class=\"wp-block-heading\">4. Ignoring Opportunity Cost<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">They see:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201c$60K for house\u201d<\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">They don\u2019t see:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">\u201c$80K\u2013$100K+ lost future value\u201d<\/p>\n<\/blockquote>\n\n\n\n<h2 id=\"does-using-hbp-make-your-mortgage-stronger-or-weaker\" class=\"wp-block-heading\">Does Using HBP Make Your Mortgage Stronger or Weaker?<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">This is where you need clarity.<\/p>\n\n\n\n<h3 id=\"stronger\" class=\"wp-block-heading\">Stronger:<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">\u2714 Increases your down payment<br>\u2714 Helps you qualify easier<br>\u2714 Can reduce CMHC insurance cost<\/p>\n\n\n\n<h3 id=\"weaker\" class=\"wp-block-heading\">Weaker:<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"> Reduces your financial reserves<br> Shows less post-closing liquidity<br> Adds future repayment pressure<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"> Lenders don\u2019t care about HBP itself<br> They care about your <strong>overall financial stability<\/strong><\/p>\n\n\n\n<h2 id=\"smarter-alternatives-most-people-ignore-these\" class=\"wp-block-heading\">Smarter Alternatives (Most People Ignore These)<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019re thinking long-term, look at:<\/p>\n\n\n\n<h3 id=\"1-first-home-savings-account-fhsa\" class=\"wp-block-heading\">1. First Home Savings Account (FHSA)<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tax-free contributions<\/li>\n\n\n\n<li>Tax-free withdrawals<br>Way better than HBP if planned early<\/li>\n<\/ul>\n\n\n\n<h3 id=\"2-keep-rrsp-invested-use-smaller-down-payment\" class=\"wp-block-heading\">2. Keep RRSP Invested + Use Smaller Down Payment<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Pay slightly higher mortgage<\/li>\n\n\n\n<li>Keep compounding working<\/li>\n<\/ul>\n\n\n\n<h3 id=\"3-combine-hbp-cash-strategy\" class=\"wp-block-heading\">3. Combine HBP + Cash Strategy<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Don\u2019t max it out blindly<\/li>\n\n\n\n<li>Use only what\u2019s needed<\/li>\n<\/ul>\n\n\n\n<h2 id=\"faq\" class=\"wp-block-heading\">FAQ<\/h2>\n\n\n\n<h3 id=\"is-hbp-free-money\" class=\"wp-block-heading\">Is HBP free money?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">No.<br>It\u2019s your own money \u2014 with a repayment obligation.<\/p>\n\n\n\n<h3 id=\"do-i-pay-interest-on-hbp\" class=\"wp-block-heading\">Do I pay interest on HBP?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">No interest.<br>But the <strong>real cost is lost investment growth<\/strong>.<\/p>\n\n\n\n<h3 id=\"can-i-repay-faster\" class=\"wp-block-heading\">Can I repay faster?<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Yes.<br>No penalty for early repayment.<\/p>\n\n\n\n<h3 id=\"links\" class=\"wp-block-heading\">Links<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li><a target=\"_blank\" rel=\"noreferrer noopener\">CRA Home Buyers Plan Rules<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/www.cmhc-schl.gc.ca\/consumers\/home-buying?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noreferrer noopener\">CMHC First-Time Home Buyer Resources<\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/donemortgage.ca\/blogs\/first-time-home-buyer-incentive-in-canada-is-it-actually-worth-it\/\" data-type=\"link\" data-id=\"https:\/\/donemortgage.ca\/blogs\/first-time-home-buyer-incentive-in-canada-is-it-actually-worth-it\/\">First-Time Home Buyer Mortgage <\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/donemortgage.ca\/blogs\/rrsp-first-time-home-buyer-rules-canada\/\" data-type=\"link\" data-id=\"https:\/\/donemortgage.ca\/blogs\/rrsp-first-time-home-buyer-rules-canada\/\">FHSA Guide RRSP vs TFSA  <\/a><\/li>\n\n\n\n<li><a href=\"https:\/\/donemortgage.ca\/blogs\/mortgage-broker-toronto\/\" data-type=\"link\" data-id=\"https:\/\/donemortgage.ca\/blogs\/mortgage-broker-toronto\/\">Mortgage Broker Toronto<\/a><\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n        <div class=\"rttpg-block-postgrid rttpg-block-wrapper rttpg-block-c9b5eb tpg-filter-type-dropdown meta-visibility-show section-title-style-style1 img_hover_animation_default title-default title_position_default title_hover_border_default meta_position_default tpg-is-author-icon-default author-image-visibility-icon tpg-category-position-default readmore-btn-default-style grid-hover-overlay-type-always grid-hover-overlay-height-default hover-overlay-height-default tpg-title-border-default filter-nex-prev-btn-visible tpg-cat-style1 slider-scroll-hide act-label-style-inline\">\n            <div class=\"rt-container-fluid rt-tpg-container tpg-el-main-wrapper tpg-gutenberg clearfix grid-layout1-main\"\n                 id=\"rt-tpg-container-2645932554\"\n                 data-layout=\"grid-layout1\"\n                 data-grid-style=\"tpg-full-height\" data-sc-id=\"elementor\"\n                 data-el-settings=''\n                 data-el-query=''\n                 data-el-path=''>\n\t\t\t\t                <div class='tpg-header-wrapper '>\n\t\t\t\t\t\n        <div class=\"tpg-widget-heading-wrapper rt-clear heading-style1 \">\n            <span class=\"tpg-widget-heading-line line-left\"><\/span>\n\t\t\t<h2 class='tpg-widget-heading'>\n\t\t\t            <a href=\"#\"  >\n\t\t\t\t\n\t\t\t\t                    <span>\n\t\t\t\t\t\tBlog&#039;s\t\t\t\t\t<\/span>\n\t\t\t\t\t\n\t\t\t\t            <\/a>\n\n\t\t\t\t\t<\/h2>            <span class=\"tpg-widget-heading-line line-right\"><\/span>\n\n\t\t\t\n        <\/div>\n\n\t\t\n\t\t                <\/div>\n\n                <div class=\"rt-row rt-content-loader gutenberg-inner grid-layout1 grid-behaviour tpg-full-height grid_layout_wrapper\">\n\t\t\t\t\t\n<div class=\"rt-col-md-4 rt-col-sm-6 rt-col-xs-12 default rt-grid-item post-1008 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized\"\t\tdata-id=\"1008\">\n\t<div class=\"rt-holder tpg-post-holder \">\n\t\t<div class=\"rt-detail rt-el-content-wrapper\">\n\t\t\t\t\t\t\t<div class=\"rt-img-holder tpg-el-image-wrap has-thumbnail\">\n\t\t\t\t\t<a data-id=\"1008\" href=\"https:\/\/www.donemortgage.ca\/blogs\/mortgage-renewal-ontario\/\" class=\"tpg-post-link\" target=\"_self\">                        <img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/11\/cf3524b7-6397-44c8-a3d9-c1eff274c56b.png\"\n                             class=\"rt-img-responsive\"\n                             width=\"768\"\n                             height=\"432\"\n                             alt=\"Mortgage Renewal in Ontario: When to Start, and When to Switch Lenders ?\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\n\t\t<\/a>\n\t\t        <div class=\"overlay grid-hover-content\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"entry-title-wrapper\"><h3 class=\"entry-title\"><a data-id=\"1008\" href=\"https:\/\/www.donemortgage.ca\/blogs\/mortgage-renewal-ontario\/\" class=\"tpg-post-link\" target=\"_self\">Mortgage Renewal in Ontario: When to Start, and When to Switch Lenders ?<\/a><\/h3><\/div>\n\t\t\t\n\t\t\t\t<div class=\"post-meta-tags rt-el-post-meta\">\n\t\t\t\t\t            <span class=\"author \">\n\n\t\t\t\t<i class=\"fa fa-user \"><\/i><span class=\"author-prefix\">By<\/span><a href=\"https:\/\/www.donemortgage.ca\/blogs\/author\/sachin_seo\/\">sachin<\/a>\t\t\t<\/span>\n\t\t\t            <span class=\"categories-links\">\n\t\t\t\t<i class=\"fas fa-folder-open \"><\/i><a class=\"uncategorized\" href=\"https:\/\/www.donemortgage.ca\/blogs\/category\/uncategorized\/\">Uncategorized<\/a>\t\t\t<\/span>\n\t\t\t            <span class=\"date\">\n\t\t\t\t<i class=\"far fa-calendar-alt \"><\/i>\t\t\t\t                    <a href=\"https:\/\/www.donemortgage.ca\/blogs\/2026\/11\/12\/\">\n\t\t\t\t\tNovember 12, 2026\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"tpg-excerpt tpg-el-excerpt\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"tpg-excerpt-inner\">\n\t\t\t\t\t\t\tMost people treat their renewal letter like a utility bill. It arrives, they sign it, and theymove&#8230;\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t        <div class=\"post-footer\">\n            <div class=\"post-footer\">\n                <div class=\"read-more\">\n\t\t\t\t\t<a data-id=\"1008\" href=\"https:\/\/www.donemortgage.ca\/blogs\/mortgage-renewal-ontario\/\" class=\"tpg-post-link\" target=\"_self\">Read More<\/a>                <\/div>\n            <\/div>\n        <\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n<div class=\"rt-col-md-4 rt-col-sm-6 rt-col-xs-12 default rt-grid-item post-326 post type-post status-publish format-standard has-post-thumbnail hentry category-uncategorized\"\t\tdata-id=\"326\">\n\t<div class=\"rt-holder tpg-post-holder \">\n\t\t<div class=\"rt-detail rt-el-content-wrapper\">\n\t\t\t\t\t\t\t<div class=\"rt-img-holder tpg-el-image-wrap has-thumbnail\">\n\t\t\t\t\t<a data-id=\"326\" href=\"https:\/\/www.donemortgage.ca\/blogs\/refinance-vs-heloc-vs-second-mortgage\/\" class=\"tpg-post-link\" target=\"_self\">                        <img decoding=\"async\" src=\"https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/09\/home_equity_blog_banner_v2.png\"\n                             class=\"rt-img-responsive\"\n                             width=\"768\"\n                             height=\"403\"\n                             alt=\"Refinance vs HELOC vs second mortgage comparison for Canadian homeowners\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\n\t\t<\/a>\n\t\t        <div class=\"overlay grid-hover-content\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"entry-title-wrapper\"><h3 class=\"entry-title\"><a data-id=\"326\" href=\"https:\/\/www.donemortgage.ca\/blogs\/refinance-vs-heloc-vs-second-mortgage\/\" class=\"tpg-post-link\" target=\"_self\">Refinance vs HELOC vs Second Mortgage: Which Home Equity Option Actually Fits Your Situation?<\/a><\/h3><\/div>\n\t\t\t\n\t\t\t\t<div class=\"post-meta-tags rt-el-post-meta\">\n\t\t\t\t\t            <span class=\"author \">\n\n\t\t\t\t<i class=\"fa fa-user \"><\/i><span class=\"author-prefix\">By<\/span><a href=\"https:\/\/www.donemortgage.ca\/blogs\/author\/donemortgage_blogs\/\">Swati Malik<\/a>\t\t\t<\/span>\n\t\t\t            <span class=\"categories-links\">\n\t\t\t\t<i class=\"fas fa-folder-open \"><\/i><a class=\"uncategorized\" href=\"https:\/\/www.donemortgage.ca\/blogs\/category\/uncategorized\/\">Uncategorized<\/a>\t\t\t<\/span>\n\t\t\t            <span class=\"date\">\n\t\t\t\t<i class=\"far fa-calendar-alt \"><\/i>\t\t\t\t                    <a href=\"https:\/\/www.donemortgage.ca\/blogs\/2026\/09\/14\/\">\n\t\t\t\t\tSeptember 14, 2026\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"tpg-excerpt tpg-el-excerpt\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"tpg-excerpt-inner\">\n\t\t\t\t\t\t\tQuick answerA refinance replaces or restructures the existing mortgage. A HELOC gives revolving&#8230;\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t        <div class=\"post-footer\">\n            <div class=\"post-footer\">\n                <div class=\"read-more\">\n\t\t\t\t\t<a data-id=\"326\" href=\"https:\/\/www.donemortgage.ca\/blogs\/refinance-vs-heloc-vs-second-mortgage\/\" class=\"tpg-post-link\" target=\"_self\">Read More<\/a>                <\/div>\n            <\/div>\n        <\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n<\/div>\n<div class=\"rt-col-md-4 rt-col-sm-6 rt-col-xs-12 default rt-grid-item post-295 post type-post status-publish format-standard has-post-thumbnail hentry category-mortgage\"\t\tdata-id=\"295\">\n\t<div class=\"rt-holder tpg-post-holder \">\n\t\t<div class=\"rt-detail rt-el-content-wrapper\">\n\t\t\t\t\t\t\t<div class=\"rt-img-holder tpg-el-image-wrap has-thumbnail\">\n\t\t\t\t\t<a data-id=\"295\" href=\"https:\/\/www.donemortgage.ca\/blogs\/minimum-down-payment-ontario\/\" class=\"tpg-post-link\" target=\"_self\">                        <img decoding=\"async\" src=\"https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/07\/Minimum-Down-Payment-Ontario-2026-guide-showing-5-10-and-20-rules.webp\"\n                             class=\"rt-img-responsive\"\n                             width=\"768\"\n                             height=\"512\"\n                             alt=\"Minimum Down Payment Ontario 2026 guide showing 5%, 10% and 20% rules\">\n\t\t\t\t\t\t\n\t\t\t\t\t\t\t\n\t\t<\/a>\n\t\t        <div class=\"overlay grid-hover-content\"><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t<div class=\"entry-title-wrapper\"><h3 class=\"entry-title\"><a data-id=\"295\" href=\"https:\/\/www.donemortgage.ca\/blogs\/minimum-down-payment-ontario\/\" class=\"tpg-post-link\" target=\"_self\">Minimum Down Payment in Ontario: Rules, Examples and Common Mistakes<\/a><\/h3><\/div>\n\t\t\t\n\t\t\t\t<div class=\"post-meta-tags rt-el-post-meta\">\n\t\t\t\t\t            <span class=\"author \">\n\n\t\t\t\t<i class=\"fa fa-user \"><\/i><span class=\"author-prefix\">By<\/span><a href=\"https:\/\/www.donemortgage.ca\/blogs\/author\/donemortgage_blogs\/\">Swati Malik<\/a>\t\t\t<\/span>\n\t\t\t            <span class=\"categories-links\">\n\t\t\t\t<i class=\"fas fa-folder-open \"><\/i><a class=\"mortgage\" href=\"https:\/\/www.donemortgage.ca\/blogs\/category\/mortgage\/\">Mortgage<\/a>\t\t\t<\/span>\n\t\t\t            <span class=\"date\">\n\t\t\t\t<i class=\"far fa-calendar-alt \"><\/i>\t\t\t\t                    <a href=\"https:\/\/www.donemortgage.ca\/blogs\/2026\/07\/22\/\">\n\t\t\t\t\tJuly 22, 2026\t\t\t\t<\/a>\n\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t\t<div class=\"tpg-excerpt tpg-el-excerpt\">\n\t\t\t\t\t\t\t\t\t\t\t<div class=\"tpg-excerpt-inner\">\n\t\t\t\t\t\t\tThe minimum down payment in Ontario depends on the purchase price of the home. It is not always a&#8230;\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t        <div class=\"post-footer\">\n            <div class=\"post-footer\">\n                <div class=\"read-more\">\n\t\t\t\t\t<a data-id=\"295\" href=\"https:\/\/www.donemortgage.ca\/blogs\/minimum-down-payment-ontario\/\" class=\"tpg-post-link\" target=\"_self\">Read More<\/a>                <\/div>\n            <\/div>\n        <\/div>\n\t\t\t\t<\/div>\n\t<\/div>\n<\/div>                <\/div>\n\n\t\t\t\t\n            <\/div>\n        <\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home Buyers Plan Canada allows eligible first-time home buyers to withdraw up to $60,000 from their RRSP to help fund a home purchase. While this can improve affordability, many buyers overlook the long-term impact on retirement savings and future wealth creation. What the Home Buyers\u2019 Plan (HBP) Actually Is The Home Buyers\u2019 Plan (HBP) lets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":229,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-155","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mortgage"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Home Buyers\u2019 Plan (HBP): How RRSP Withdrawals Really Work - Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.donemortgage.ca\/blogs\/home-buyers-plan-canada\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Buyers\u2019 Plan (HBP): How RRSP Withdrawals Really Work - Blogs\" \/>\n<meta property=\"og:description\" content=\"Home Buyers Plan Canada allows eligible first-time home buyers to withdraw up to $60,000 from their RRSP to help fund a home purchase. 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What the Home Buyers\u2019 Plan (HBP) Actually Is The Home Buyers\u2019 Plan (HBP) lets [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.donemortgage.ca\/blogs\/home-buyers-plan-canada\/\" \/>\n<meta property=\"og:site_name\" content=\"Blogs\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/malikswatti\" \/>\n<meta property=\"article:published_time\" content=\"2026-04-28T13:07:35+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-06-09T20:07:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1536\" \/>\n\t<meta property=\"og:image:height\" content=\"1024\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Swati Malik\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Swati Malik\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/home-buyers-plan-canada\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/home-buyers-plan-canada\\\/\"},\"author\":{\"name\":\"Swati Malik\",\"@id\":\"https:\\\/\\\/donemortgage.ca\\\/blogs\\\/#\\\/schema\\\/person\\\/006d26abf3456207e8a8bef0a0e99cff\"},\"headline\":\"Home Buyers\u2019 Plan (HBP): How RRSP Withdrawals Really Work\",\"datePublished\":\"2026-04-28T13:07:35+00:00\",\"dateModified\":\"2026-06-09T20:07:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/home-buyers-plan-canada\\\/\"},\"wordCount\":580,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/donemortgage.ca\\\/blogs\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/home-buyers-plan-canada\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/wp-content\\\/uploads\\\/2026\\\/04\\\/Home-Buyers-Plan.webp\",\"articleSection\":[\"Mortgage\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/home-buyers-plan-canada\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/home-buyers-plan-canada\\\/\",\"url\":\"https:\\\/\\\/www.donemortgage.ca\\\/blogs\\\/home-buyers-plan-canada\\\/\",\"name\":\"Home Buyers\u2019 Plan (HBP): How RRSP Withdrawals Really Work - 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Through Done Mortgage, she focuses on simplifying the mortgage process and guiding clients toward the right mortgage strategy for their financial goals.","sameAs":["https:\/\/donemortgage.ca\/blogs","https:\/\/www.facebook.com\/malikswatti","https:\/\/www.instagram.com\/swatimalik88\/","https:\/\/www.linkedin.com\/in\/swati-malik-b6964691\/","https:\/\/ca.pinterest.com\/swattim\/_profile\/","https:\/\/www.youtube.com\/@DoneMortgage"],"url":"https:\/\/www.donemortgage.ca\/blogs\/author\/donemortgage_blogs\/"}]}},"rttpg_featured_image_url":{"full":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",1536,1024,false],"landscape":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",1536,1024,false],"portraits":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",1536,1024,false],"thumbnail":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",150,100,false],"medium":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",300,200,false],"large":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",1024,683,false],"1536x1536":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",1536,1024,false],"2048x2048":["https:\/\/www.donemortgage.ca\/blogs\/wp-content\/uploads\/2026\/04\/Home-Buyers-Plan.webp",1536,1024,false]},"rttpg_author":{"display_name":"Swati Malik","author_link":"https:\/\/www.donemortgage.ca\/blogs\/author\/donemortgage_blogs\/"},"rttpg_comment":1,"rttpg_category":"<a href=\"https:\/\/www.donemortgage.ca\/blogs\/category\/mortgage\/\" rel=\"category tag\">Mortgage<\/a>","rttpg_excerpt":"Home Buyers Plan Canada allows eligible first-time home buyers to withdraw up to $60,000 from their RRSP to help fund a home purchase. 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