Home Buyers' Plan (HBP) Calculator
Understand the Home Buyers' Plan: withdraw up to $60,000 from your RRSP for a down payment, interest-free. Calculate your repayment schedule and true opportunity cost.
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Frequently Asked Questions
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About This Calculator
v1.0Updated: January 2025
The Home Buyers' Plan (HBP) lets first-time homebuyers withdraw up to $60,000 from their RRSP to put toward a down payment. While it's interest-free, you must repay it over 15 years. This calculator helps you understand eligibility, repayment obligations, and the real cost in terms of lost RRSP growth.
Key Features
- Interactive eligibility checker with 4-year rule validation
- Withdrawal planner for individuals and couples (up to $120K total)
- 15-year repayment schedule calculator
- Grace period tracker: 5 years for 2022-2025 withdrawals, 2 years otherwise
- Missed payment tax impact calculator
- Opportunity cost analysis: compare retirement RRSP with vs without HBP
- FHSA comparison and spousal RRSP strategies
When to Use This Calculator
- First-Time Homebuyer Planning: Check if you qualify under the 4-year rule and determine how much you can withdraw from your RRSP.
- Repayment Strategy: Understand your annual minimum payment and plan a repayment schedule that avoids tax penalties.
- Opportunity Cost Analysis: See how withdrawing from your RRSP today impacts your retirement savings 20-30 years from now.
- Couple Optimization: If you're buying with a partner, see how to maximize your combined $120,000 HBP limit strategically.
Free to UseCanadian-SpecificNo Registration RequiredReal-Time Calculations