Sally can use the Home Buyers Plan (HBP)to withdraw $50 000 from her RRSP for a down payment on a home as long as it is her first home and she can pay it back in ten years.

Name: Sally can use the Home Buyers Plan (HBP)to withdraw $50 000 from her RRSP for a down payment on a home as long as it is her first home and she can pay it back in ten years.
Brand: Quizplus
Rating: 4.9 (48 reviews)

Question

Quizplus · Accepted Answer

The Home Buyers' Plan (HBP) allows one to withdraw up to $35,000 from their RRSP for a home purchase, and the repayment period is 15 years, not 10.

Sally Can Use the Home Buyers Plan (HBP)to Withdraw $50