canada • CAD

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

By the GlobalCalqulate team, founded by Pavan Kusunuri · About our editorial standards

Home Purchase Details

Home Purchase Price

Available Down Payment

Province

RRSP & HBP Details

Your RRSP Balance

Spouse RRSP Balance

Ownership Type

First-Time Home Buyer

Income & Repayment

Annual Income

Repayment Period

Eligible HBP Withdrawal

CAD 35,000.00

Single • First‑time buyer

Eligible HBP Withdrawal

CAD 35,000.00

Maximum Withdrawal Limit

CAD 35,000.00

Minimum Annual Repayment

CAD 2,333.33

Monthly Repayment Equivalent

CAD 194.44

Down Payment Increase

CAD 35,000.00

Mortgage Reduction

CAD 35,000.00

✓ Reviewed and updated for accuracy using current official rates and widely accepted formulas.

How to Use This Calculator

Enter RRSP balances

Provide your RRSP balance and your spouse's RRSP balance if purchasing jointly.

Choose ownership type

Select whether the home will be purchased individually or jointly.

Review withdrawal eligibility

The calculator estimates how much you can withdraw under the Home Buyers' Plan.

Plan repayments

Review the minimum annual repayments required to avoid taxable income inclusion.

Help & FAQs

Frequently Asked Questions

Clear answers to common questions to help you use this calculator confidently.

What is Home Buyers' Plan?

Tap to view the answer

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?

Tap to view the answer

15-year repayment period minimum. If you miss a payment, it's added to your income and taxed.

Are there eligibility requirements?

Tap to view the answer

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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How to Use This Calculator

Enter RRSP balances

Provide your RRSP balance and your spouse's RRSP balance if purchasing jointly.

Choose ownership type

Select whether the home will be purchased individually or jointly.

Review withdrawal eligibility

The calculator estimates how much you can withdraw under the Home Buyers' Plan.

Plan repayments

Review the minimum annual repayments required to avoid taxable income inclusion.

Understanding Your Results

Eligible HBP Withdrawal
The amount that can be withdrawn from RRSPs under Home Buyers' Plan rules.
Annual Repayment
Minimum repayment required each year to restore withdrawn RRSP funds.
Mortgage Reduction
The estimated reduction in mortgage borrowing resulting from the HBP withdrawal.
Down Payment Boost
Additional 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.

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.

Home Purchase Details

RRSP & HBP Details

Income & Repayment

How to Use This Calculator

What is Home Buyers' Plan?

How long to repay?

Are there eligibility requirements?

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Home Purchase Details

RRSP & HBP Details

Income & Repayment

How to Use This Calculator

Understanding Your Results

Key Tips

Understanding Canada's Home Buyers' Plan (HBP)

What Is the Home Buyers' Plan?

Who Qualifies?

Repayment Rules

Using HBP with FHSA

Benefits of a Larger Down Payment

Example Home Buyers' Plan Calculation

Understanding Your Results

Key Tips

Understanding Canada's Home Buyers' Plan (HBP)

What Is the Home Buyers' Plan?

Who Qualifies?

Repayment Rules

Using HBP with FHSA

Benefits of a Larger Down Payment

Example Home Buyers' Plan Calculation