Savings for First-Time Homebuyers

Interest rates are still historically low, and recent surveys show that more and more Albertans are looking at stepping into the homeownership market in the next few months. If you’re a first-time homebuyer, there are a number of grants and rebates available to you, that will help you afford that home without breaking the bank. RRSP Homebuyer’s Plan The Canadian Revenue Agency’s Homebuyer’s Plan, allows first-time buyers to use their RRSP contribution towards a down payment. You’re able to withdraw up to $25,000 from an RRSP account, so long as the contribution was made more than 90 days previous, and will have it paid back…