Home Buyers' Plan (HBP) repayment
The HBP lets you borrow up to $60,000 from your own RRSP, tax-free, to buy a qualifying first home. You pay it back over 15 years; any year you skip, that year's amount is added to your income.
Assumptions
- Limit: $60,000 per person.
- First withdrawals from January 1, 2022 to December 31, 2028: repayments start the fifth year after the first withdrawal. Other years: the second year after.
- Minimum repayment = 1/15 of the amount each year (paid in the year or first 60 days of the next). Can be combined with an FHSA withdrawal for the same home.
General information, not financial advice. This calculator gives rough estimates from simplified assumptions. It does not know your full situation. Check with a qualified professional and the official sources before making decisions.
Sources
- Canada.ca: The Home Buyers' Plan (incl. temporary repayment relief)
- Canada.ca: Repaying HBP withdrawals
Figures checked October 16, 2026. Rules and limits change; confirm with the source before acting.
Related
Also see FHSA calculator and How to buy a house in Canada.