There are 3 programs: 1) first time homebuyers plan (allows you to draw up to $35,000 from your RSP) for purchase of a home 2) first time buyers tax credit (a tax credit at tax time, be sure to tell your Accountant you bought a home.) 3) first time home buyers incentive program (where the gov't may assist with your down payment, to be repaid when you sell the home)