What is the Home Buyers' Plan limit in 2026?

The RRSP Home Buyers' Plan withdrawal limit is $60,000 per person in 2026. A couple of eligible first-time buyers can withdraw up to $120,000 combined.

Do I have to repay the Home Buyers' Plan?

Yes. HBP withdrawals must be repaid to your RRSP over 15 years. The first repayment is due by the end of the second calendar year after the year you withdrew. Any unpaid required amount is added to your taxable income.

Can I use the Home Buyers' Plan and FHSA together?

Yes. You can withdraw from both your FHSA and your RRSP under the Home Buyers' Plan for the same qualifying home purchase — up to $100,000 per person when both accounts are maximized.

What form do I need for an HBP withdrawal?

Use Form T1036 (Home Buyers' Plan Request to Withdraw Funds from an RRSP). Your RRSP issuer processes the withdrawal; keep records for your tax return and repayment tracking.

Home Buyers' Plan (HBP) Canada 2026

Updated for 2026 · Free, unbiased education for Canadian first-time home buyers

Quick Answer

What is the RRSP Home Buyers' Plan in 2026?

The Home Buyers' Plan (HBP) lets eligible first-time buyers withdraw up to $60,000 per person from their RRSP tax-free to buy or build a qualifying home. You must repay the withdrawal over 15 years starting the second year after withdrawal. Couples can withdraw up to $120,000 combined, and you can stack HBP with an FHSA on the same purchase.

$60,000 maximum withdrawal per person ($120,000 per couple)
Tax-free if you buy a qualifying home and follow repayment rules
15-year repayment schedule — first payment due in the second calendar year after withdrawal
Stacks with FHSA for up to $100,000 per person toward a down payment

Source: Canada Revenue Agency

Who qualifies for the Home Buyers' Plan

You generally qualify if you are a Canadian resident and a first-time home buyer — meaning you did not own a home you lived in as your principal residence in the current year or the previous four calendar years. Special rules can apply for disability-related purchases and for buyers who previously used the HBP and fully repaid it. Confirm eligibility with CRA before withdrawing.

2026 withdrawal limit and how to claim it

The HBP withdrawal limit is $60,000 per person. Ask your RRSP issuer to process the withdrawal using Form T1036. Funds must be used to buy or build a qualifying home, and you (or your spouse/partner) must intend to occupy it as your principal residence within one year of buying or building it.

Repayment rules that protect the tax-free status

HBP withdrawals are not taxed if you repay them on schedule. Repayments are due over 15 years, with the first payment due by the end of the second calendar year after the year of withdrawal. Missing a required repayment means that amount is added to your taxable income for that year.

Stack HBP with FHSA for maximum down payment power

You can use both the RRSP Home Buyers' Plan and the First Home Savings Account on the same purchase. That is up to $60,000 from HBP plus $40,000 from FHSA — $100,000 per person, or $200,000 for a couple of first-time buyers. Use FHSA first when possible (no repayment), then HBP for additional funds.

Deep-dive guide chapters

Continue learning in our free 8-module guide — each link goes to a detailed chapter with checklists, examples, and calculators.

RRSP Home Buyers' Plan deep diveEligibility, repayment schedule, and common mistakes FHSA vs HBP comparisonWhich account to fund first — and when to use both FHSA guide$8,000/year, $40,000 lifetime, no repayment required Combined FHSA + HBP strategyStack both accounts for up to $100K per person FHSA vs RRSP comparison toolModel tax savings side by side Down payment strategiesHow HBP fits Canada's 5%/10%/20% minimum rules

Frequently asked questions

Related resources from LendCity

FirstHomeGuide.ca is part of the LendCity education network. When you are ready for personalized mortgage guidance — or planning beyond your first purchase — these trusted resources can help.

LendCity MortgagesLicensed mortgage professionals across Canada — pre-approval, rate shopping, and first-time buyer financing with no obligation.Mortgage Renewal HubFree renewal education for when your first mortgage term ends — compare rates, avoid lender auto-renewals, and plan your next term.

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