As a first time home buyer you can use your RRSP’s for the down payment to a maximum amount of $25,000.00 per borrower, without paying taxes on the withdrawals. You have 15 years to repay the funds to your RRSP account. You need to verify the funds have been in your RRSP account(s) for at least 90 days for the funds to qualify towards your home purchase. The funds can be used not only towards your down payment, but also for closing costs and furniture as well.
Call now for more details at 613-563-3447. And for more information go to the CRA.