Real Estate Blog / Data - Blog Archive: November, 2018

November 2018

Found 1 blog entry for November 2018.

When considering purchasing your home there’s one thing that the majority of people are concerned about, that is having enough for a down payment on a property. Have a 20% down payment of the purchase price on a home is most preferred. If you don’t have a 20% down payment, then a 5% down payment option is available. When you have less than a 20% down payment you are required to have mortgage insurance through CMHC to be able to qualify for your mortgage.

Nonetheless if it’s a 5% or 20% down payment, the government of Canada allows home buyers to use their RRSPs to purchase a home without a penalty for withdrawing the RRSPs. This home buyer option is called Home Buyer’s Plan or HBP.

But before you withdraw your RRSP, the following conditions must be

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