🏛️ Registered accounts

Home Buyers' Plan calculator

Enter how much you withdrew and the year of your first withdrawal. You get the first repayment year, the minimum each year and a schedule to the end.

Free · no signup Runs in your browser

Minimum repayment each year$0.00
    Working with a different rate? Edit the rates this calculator uses

    These are the figures we verified on 2026-10-23. Change them to work with a historic period, or with a new rate that has been announced but which we have not published yet.

    The CRA's HBP page says 2028; its repayment page says 2025. Set 2025 to see the narrower rule.

    The deferral window is currently unsettled. Check your HBP statement.Your HBP statement, issued by the CRA, shows your balance and the minimum repayment due for each year. This calculator assumes you repay the minimum or the amount you enter and that you withdrew all of the money in the same year. The CRA's Home Buyers' Plan page states that the five-year deferral covers first withdrawals made from January 1, 2026 to December 31, 2028. The federal budget update of April 2026 describes that extension as a proposal, and the CRA's separate repayment page still lists 2022 to 2025. We default to the CRA's main page. Change the last year below to 2025 to see the narrower rule. This is general information, not tax advice.

    How is the Home Buyers' Plan repaid?

    You repay what you withdrew to your RRSP over up to 15 years, and each year's minimum is your remaining balance divided by the years left. The 15 years start in the second year after your first withdrawal, or the fifth year if you made it during the CRA's deferral window. The withdrawal limit is $60,000. Any shortfall below the minimum is added to your income that year.

    Why we built this calculator

    The Home Buyers' Plan lets you take money out of your RRSP for a first home without it counting as income, but only because it is a loan to yourself. The repayment rules are what catch people out: the start date moves depending on when you withdrew, and a missed repayment becomes taxable.

    The start date is also in flux. The five-year deferral is a temporary relief whose end date has moved, and the CRA's own pages do not currently agree on it. Rather than hide that, this calculator makes the last qualifying year an editable setting and tells you which rule it used.

    It runs in your browser. Nothing you enter is sent anywhere, and there is no sign-up.

    When to use it

    • Before withdrawing, to see what the repayments will cost you each year
    • After withdrawing, to find the year your first repayment is due
    • To see what a repayment you skip adds to your taxable income
    • To compare the effect of the two- and five-year start dates

    Mistakes it helps you avoid

    • Assuming you can leave the money out. Each year's minimum not repaid is added to your income.
    • Forgetting that repayments must be RRSP contributions you designate as repayments. They are not deductible.
    • Assuming the start date is fixed. It depends on the year of your first withdrawal.
    • Treating the $60,000 limit as shared. Each person has their own.

    How the repayment is worked out

    The minimum is recalculated each year from what you still owe, so repaying the minimum gives equal instalments.

    • first repayment year = first withdrawal year + 2
    • (or + 5 if the withdrawal is in the deferral window)
    • repayment period = 15 years
    • minimum each year = HBP balance ÷ years remaining in the period
    • if you repay less than the minimum:
    • added to income = minimum − amount repaid
    • balance = balance − minimum
    • extra tax = added to income × marginal rate

    Your balance falls both by the repayments you designate and by any amount that was added to your income because you repaid less than the minimum. Repaying more than the minimum shortens the schedule. The shortfall is included in income on line 12900 of your return.

    Worked example: $35,000 withdrawn in 2026

    You withdraw $35,000 under the Home Buyers' Plan in 2026, and the five-year deferral applies. You repay $1,000 in your first repayment year.

    1. First repayment year: 2026 + 52031
    2. Last repayment year: 2031 + 142045
    3. Minimum each year: 35,000 ÷ 15$2,333.33
    4. You repay in 2031$1,000.00
    5. Shortfall added to 2031 income: 2,333.33 − 1,000$1,333.33
    6. Extra tax at 30% marginal rate$400.00

    Your first repayment is due in 2031, the minimum is $2,333.33 a year, and repaying only $1,000 adds $1,333.33 to that year's income.

    The shortfall still reduces your balance, so you are not asked to repay it again. You pay tax on it instead. It is a repayment you chose not to make, taxed once.

    The deferral window, and why it matters

    The CRA's Home Buyers' Plan page states that the five-year deferral covers first withdrawals made from January 1, 2026 to December 31, 2028. The federal budget update of April 2026 describes that extension as a proposal, and the CRA's separate repayment page still lists 2022 to 2025. We default to the CRA's main page. Change the last year below to 2025 to see the narrower rule.

    The difference is three years. A $35,000 withdrawal in 2026 starts repayment in 2031 under the deferral, but in 2028 without it. If you are planning around this, confirm the rule in force with the CRA before you withdraw.

    How repayments work in practice

    • You make an RRSP contribution, then designate all or part of it as an HBP repayment
    • A designated repayment does not reduce your RRSP deduction limit and cannot be claimed as a deduction
    • The CRA sends an HBP statement showing your balance and the minimum for the year
    • Check your RRSP room before contributing for a repayment

    Terms on this page

    HBP balance
    What you withdrew, less amounts you designated as repayments and amounts added to income because you did not repay.
    Minimum required repayment
    Your HBP balance divided by the years remaining in the repayment period.
    Designated repayment
    An RRSP contribution you choose to treat as an HBP repayment. It is not deductible.

    What has changed, and when

    Rates on this page have not always been what they are today. If you are working on an earlier period, use the figure that applied at the time rather than the current one.

    1. Current $60,000 withdrawal limit and a 15-year repayment period. The CRA's HBP page states a five-year deferral for first withdrawals from 2026 to 2028; the April 2026 budget update describes that extension as a proposal.
    2. 2022 to 2025 A five-year deferral applied to first withdrawals in these years, per the CRA's repayment page.

    Common questions

    What is the Home Buyers' Plan withdrawal limit?

    The CRA's HBP page gives the limit as $60,000 per person. A couple buying together can each withdraw up to the limit from their own RRSPs.

    How long do I have to repay the Home Buyers' Plan?

    Up to 15 years. Your minimum each year is your remaining HBP balance divided by the years left in the period, so repaying the minimum every year clears it in 15 years.

    When does my first HBP repayment start?

    For withdrawals before 2022, the second year after your first withdrawal. During the CRA's temporary relief, the fifth year. The CRA's HBP page lists first withdrawals from 2026 to 2028; its repayment page lists 2022 to 2025, and the April 2026 budget update describes the extension as a proposal. Check your HBP statement.

    What happens if I do not repay my HBP minimum?

    The difference between the minimum and what you designated as a repayment is added to your income for that year, reported on line 12900. It still reduces your balance, so you pay tax on it rather than repaying it.

    Can I deduct an HBP repayment?

    No. You repay by contributing to your RRSP and designating the contribution as a repayment. You cannot claim a deduction for the amount you designate, and it does not reduce your RRSP deduction limit.

    What to work out next

    Where these numbers come from

    Last verified 2026-10-23 Rates on this page are checked against the sources above at least once a year, and whenever the governing authority announces a change. Spotted something out of date? Tell us and we will fix it.

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