USE YOUR RRSP TO BUY A NEW HOME - How Realtors fund change FOR YOU!

Many clients have used money from their RRSP to buy a new home. The program is called the Home Buyers Program (HBP). This idea was conceptualized and developed by the Canadian Real Estate Association (CREA) and REALTORS® in Ottawa. Real Estate agents, through yearly dues to CREA, help fund these changes FOR YOU! The HBP was introduced as a temporary measure in 1992. Through successful lobbying it was made permanent in 1994. Initially withdrawals were limited to $20,000 however, in 2009, CREA successfully lobbied to increase the limit to $25,000. Over 2 million Canadians have used the program to date. CREA's lobbying accomplishments is too long to list but all are supported by the fees paid by your real esate agent.

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