Allows first-time buyers to withdraw up to $60,000 from their RRSP tax-free, provided it is repaid over 15 years. 3. Secure a Mortgage Pre-Approval Buying your first home - Canada Life
Allows you to save up to $8,000 annually (to a $40,000 lifetime limit) tax-free for your down payment. what to do first when buying a home
Take advantage of programs designed to help you save faster: Allows first-time buyers to withdraw up to $60,000
In Canada, the minimum down payment is 5% for homes under $500,000, while homes over $1.5 million require 20%. 2. Leverage Government Incentives 000 from their RRSP tax-free