Investment · Canada
Home Buyers' Plan repayment.
You borrowed from your RRSP for a first home. Find the year repayments start, the minimum you owe each year, and what a skipped or extra year does.
You repay over 15 years, at least 1/15 of what you withdrew each year. For a first withdrawal in 2022 to 2028, repayments start the fifth year after the withdrawal year (a 2026 withdrawal starts in 2031). Any year you repay less than the minimum, the shortfall is added to your income.
Inputs
Repayment schedule
Enter your details and press Build schedule.
How repayment works
The Home Buyers' Plan lets you withdraw up to $60,000 from your RRSP to buy or build a qualifying home. You then have up to 15 years to put that money back. If your first withdrawal was before 2022, repayments start the second year after the withdrawal year. Temporary relief defers the start to the fifth year after the withdrawal year for a first withdrawal from January 1, 2022 to December 31, 2028.
Each year's minimum is your remaining HBP balance divided by the years left in the 15-year period. Repay more and later minimums shrink, but the period does not get shorter. Repay less and the difference is included as RRSP income on line 12900 of your return. To repay, contribute to your RRSP in the repayment year or the first 60 days after, then designate it on Schedule 7 (line 24600).
Not modelled: first withdrawals after 2028 use the standard second-year start because CRA lists no relief for them; the tax on unrepaid amounts; your own contribution timing.
Sources, fetched 29 September 2026: CRA — How to repay the amounts withdrawn under the HBP; CRA — The Home Buyers' Plan; CRA — How to make withdrawals under the HBP.
Frequently asked questions
Can I repay the whole amount early?
Yes. CRA says you can repay the full amount into your RRSP at any time. Repayments made before you are required to start reduce your first year's requirement first.
Can I repay into my FHSA?
No. CRA states you cannot repay HBP withdrawals into an FHSA, and you cannot deduct an amount you designate as a repayment.
Where do I find my real balance?
Your HBP statement of account, sent with your notice of assessment or in your CRA account, shows your remaining balance and next year's minimum. Use that as the final word.
Estimate only — not tax advice
This tool applies CRA's published minimum-repayment rule to the figures you enter. It does not know your actual HBP balance or prior repayments, so check your CRA statement of account before relying on any number here.