Tag Archives: HBP


Helpful tips from BMO Bank of Montreal

Buying your first home as a couple? Check out these six tips.

Become a savvy home-buying duo.

Are you and your partner gearing up to be first-time homebuyers? You aren’t alone.

With real estate prices on the rise, taking on a mortgage payment as a couple may be more realistic than attempting to buy independently.

You may also find the process intimidating ― but fear not. Take note of these six tips that will help you and your partner be properly equipped to make the biggest purchase of your life: Continue reading

Is it time for you to become a homeowner?

You’ve been thinking about it for a few years, but you wanted to make sure you were well prepared before making such a major investment. If you’re ready to become a homeowner, you have several options. For first-time home buyers or those who have gone more than five years without owning a home,[1] one option is the Home Buyers’ Plan (HBP).

What is the Home Buyers’ Plan (HBP)?

The Home Buyers’ Plan (HBP) is an attractive solution for assembling a down payment. This federal government program lets you withdraw money from your registered retirement savings plans (RRSPs) for the sole purpose of buying or building a home for yourself or for a relative with a disability, whether they are your spouse, child, or other member of your family. The program allows you to withdraw up to $25,000.


What happens next? Continue reading