CostYou must repay your RRSP HBP withdrawal over 15 years, roughly 1/15th per year, starting in the second calendar year after you withdrew. Miss a year's minimum repayment and that amount is added to your taxable income for that year instead.
The repayment schedule
Once you withdraw funds under the Home Buyers' Plan, the CRA expects them repaid to your RRSP over 15 years, in roughly equal annual installments, starting the second calendar year after your withdrawal — the first full year after you withdraw is a grace year with no payment due. You choose how to actually make each year's repayment (a lump sum, spread through the year, or any combination), as long as the year's minimum is met by the deadline.
A worked example
$45,000 HBP withdrawal in 2026
| Withdrawal year | 2026 |
| Grace year (no payment due) | 2027 |
| First repayment due | 2028 |
| Annual minimum repayment (1/15th) | $3,000 |
| Final repayment year | 2042 |
See your own full schedule on the RRSP Home Buyers' Plan calculator, which lays out all 15 years at once.
What happens if you miss a payment
If you don't repay at least the minimum in a given year, that year's minimum amount doesn't just carry forward silently — it gets added to your taxable income for that tax year instead, as if it were regular income, and you're taxed on it at your marginal rate. This is a real, avoidable cost: setting up an automatic annual RRSP contribution earmarked for your HBP repayment is a simple way to avoid ever missing a year by accident.