Many of us are finding that we are struggling to make ends meet in a difficult economy. There is something called the Home Buyers Plan that can really help people out, but a lot of people don’t know what it’s all about and what it does. This plan lets you take out over twenty thousand dollars from an RRSP.

They can then use this money to buy a house without having to worry about paying taxes on the money. People than have fifteen years that they can pay the money back over time. This can really help people out if they are looking to purchase a house, but are struggling with being able to make that first down payment.

Unfortunately, there are some catches involved in this, as good as it sounds. For one thing, you can’t be buying your very first house. You have to have had a house over four years’ time period. Next, you have to use money that has been put in months ago. You can’t use very recent funds in this plan. Hopefully, this has given you some more information about the Home Buyer’s Plan. If you need more information, there are a lot of places to look online.