RRSP First Time Home Buyer Loan Explained

The RRSP account and the Home Buyers Plan allow Canadian to Save Money Tax free By taking out a Loan from their RRSP using the Home Buyers Plan. This loan has to be repaid in 15 years but it allows you to withdraw from your RRSP up to 35K and use it towards and down payment on a house or home.

The first time home buyers plan is a great way to purchase your first piece of property as well as save and invest almost tax free. In this video I will walk you through everything you need to know!

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