#VerityAnswers – First Time Home Buyer’s Plan (RRSP Withdrawal)
Brandon Ware sat down with Smantha Comito of Outline Financial to get quick details and facts about this government program designed to help First Time Buyers.
We’re bringing you the info you need to demystify the process of buying, selling and leasing Toronto real estate. Check out www.VerityToronto.com for more great videos and real estate blog posts.
Other quick stats:
▫️You have to repay 1/15th every year (paid back over a 15 year period)
▫️A single FTHB buyer can use $35,000
▫️A couple (both of whom qualify as FTHB) can use $70,000 ($35,000 each)
▫️The home can’t be a rental property. It has to be your primary residence.
▫️Make sure you have the funds in your RRSP account long enough to qualify to use for your purchase!