As a first-time homebuyer, you are allowed to withdraw up to $25,000 from your RRSP without penalty. This amount can be doubled with your partner to a total of $50,000. Participants of the Homebuyers plan must begin repayment to their RRSP within two years of withdrawing the funds.

For more information, talk to your mortgage professional or visit:

Consumers     First-Time Homebuyers   RRSP Home Buyers Plan