RRSP Home Buyers Plan

RRSP Home Buyers Plan - RRSP Home Buyers Plan

Vancouver Realtor Owen Bigland blogs about one of the best ways for a first time home buyer to get into their first home. The RRSP home buyers plan allows you to borrow up to 000 per person and up to 000 per couple interest free and penalty free from your RRSP. They also give you an initial grace period of the year in which the withdrawal was made plus 1 more full calendar year before you need to start paying it back. Then you must pay it back over the next 15 years by depositing 1/15th of the amount withdrawn annually to your RRSP. Prepayments are allowed at anytime without penalty. Read the full details on my blog at www.owenbigland.com If you want to voice your opinion or get in touch with Owen, please email owenbigland@gmail.com and visit www.owenbigland.com for all his Inside Edge Real Estate video blogs.