Property Management and Real Estate Services

Unison Property Management Calgary

Free Money For First-Time Home Buyers!

The key to that fabulous house warming gift from the federal government: The Home Buyers’ Plan, better known as the “RSP Program”. It lets first-time buyers, including anyone who hasn’t owned a home in the last 5 years, borrow up to $20,000 per spouse from their RSP interest-free to buy a home, to be repaid over the next 17 years. But only funds that have been in your RSP at least 90 days can be withdrawn.

To get that free cash, take advantage of your unused RSP limit Say you’ve got $3,000 in unused RSP contributions, have saved $3,000 for a down payment, and plan to buy a home in the next few months.


  • Deposit that $3,000 into your RSP.
  • Keep it there at least 90 days, and remove it under the Home Buyers’ Plan when you buy your house.
  • If you’re in the 40% tax bracket, you’ll get a $1,200 income tax refund when filing your next tax return, simply by parking your down payment money in your RSP for at least 90 days!

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