How can I use your RRSPs to help me buy my first home?

With the federal government’s Home Buyer’s Plan, you can use up to $25000 in RRSP savings ($50000 for a couple) to help cover the down payment on your first home. From there, you’ll have 15 years to repay your RRSP. The RRSP funds you’re using must be on deposit for at least 90 days. You’ll also need a signed agreement to buy a qualifying home.