Chris Hoffele Mortgage Agent Level 1

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Buying your first home in 2026? You could have until 2031 before your first RRSP Home Buyers’ Plan repayment is due!

Thanks to temporary repayment relief, eligible homebuyers who make their first Home Buyers’ Plan (HBP) withdrawal in 2026 have more time before repayments begin.

Here’s what you need to know:

- Access up to $60,000: Use eligible RRSP savings toward buying or building a qualifying home.
- Start repaying in 2031: Your 15-year repayment period begins in the fifth year following your first withdrawal.
- Plan for repayment: You can repay earlier, but any required repayment shortfall is generally added to your taxable income.

Buying a home involves more than securing a mortgage. I can help you understand your financing options and plan for the costs that come with homeownership.

Thinking about buying your first home? Connect with me to explore your mortgage options and make informed financial decisions!

#INVIS #FirstTimeHomeBuyer #HomeBuyersPlan #MortgageTips #MortgageBroker #MortgagesCanada

*Source: Canada Revenue Agency (CRA)

https://www.choffelemortgages.ca/

Location: Listowel, ON, Canada

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