Home Buyers' Plan (HBP) Calculator 2026 | RRSP Withdrawal Limit
Calculate maximum RRSP withdrawal under Canada's Home Buyers' Plan. First-time buyers can withdraw up to $35,000 tax-free to purchase primary residence.
Updated for 2026
Home Purchase Details
RRSP & HBP Details
Income & Repayment
✓ Last updated: March 2026 | Built with CRA-official rates, Bank of Canada data, and OSFI guidelines
How to Use This Calculator
Provide your RRSP balance and your spouse's RRSP balance if purchasing jointly.
Select whether the home will be purchased individually or jointly.
The calculator estimates how much you can withdraw under the Home Buyers' Plan.
Review the minimum annual repayments required to avoid taxable income inclusion.
Understanding Your Results
- Eligible HBP WithdrawalThe amount that can be withdrawn from RRSPs under Home Buyers' Plan rules.
- Annual RepaymentMinimum repayment required each year to restore withdrawn RRSP funds.
- Mortgage ReductionThe estimated reduction in mortgage borrowing resulting from the HBP withdrawal.
- Down Payment BoostAdditional funds available toward the home purchase from RRSP withdrawals.
Key Tips
- ✓Missing an HBP repayment causes the unpaid amount to be added to taxable income.
- ✓Couples can significantly increase their down payment by using both RRSPs.
- ✓HBP withdrawals are tax-free when eligibility requirements are met.
- ✓Combining HBP with the First Home Savings Account (FHSA) can improve affordability.
Related Calculators
Understanding Canada's Home Buyers' Plan (HBP)
What Is the Home Buyers' Plan?
The Home Buyers' Plan allows eligible Canadians to withdraw funds from their RRSPs to purchase or build a qualifying home without immediate taxation.
Who Qualifies?
Generally, first-time home buyers who have not occupied a home they owned in the previous four calendar years may qualify.
Repayment Rules
Withdrawn funds must typically be repaid to the RRSP over a 15-year period. Missed repayments are included in taxable income.
Using HBP with FHSA
Many Canadians combine the Home Buyers' Plan with the First Home Savings Account (FHSA) to maximize tax-efficient down payment savings.
Benefits of a Larger Down Payment
A larger down payment can reduce mortgage insurance costs, improve affordability, and lower total interest paid over the life of the mortgage.
Example Home Buyers' Plan Calculation
Single first-time buyer using RRSP funds for a home purchase.
- RRSP Balance
- $80,000
- Ownership
- Single
- Eligible Withdrawal
- $35,000
- Annual Repayment
- $2,333
- Repayment Period
- 15 Years
Frequently Asked Questions
Clear answers to common questions to help you use this calculator confidently.
What is Home Buyers' Plan?
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What is Home Buyers' Plan?
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HBP allows first-time buyers to withdraw up to $35,000 (or $70,000 per couple) from RRSP tax-free for home purchase.
How long to repay?
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How long to repay?
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15-year repayment period minimum. If you miss a payment, it's added to your income and taxed.
Are there eligibility requirements?
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Are there eligibility requirements?
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Must be first-time buyer, not owned a principal residence in past 4 years. Funds must be used within 1 year of withdrawal.
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