p>If you are a first time home buyer, you can borrow up to $35,000 from your RRSP to help pay for your new home as part of the federal Home Buyers' Plan. Your spouse or partner can do the same, which would give you a total of $70,000. You don’t have to pay tax on this withdrawal, but you do need to pay it back within 15 years.</p><p>If you have separated, divorced, or ended a common-law partnership, you can still take advantage of the Home Buyers' Plan, even if you have purchased a home before. You just need to meet these conditions:</p><ul><li><p>The separation had to take place within the previous four years, and you must be living apart for a minimum of 90 days.</p></li><li><p>You cannot be living with a new spouse or common-law partner when you withdraw under the Home Buyers’ Plan.</p></li><li><p>If you own a primary home at time of withdrawal, you must sell this principal residence no later than two years after the end of the year in which you make the withdrawal.</p></li><li><p>If you own a home jointly with your ex-spouse, you can use the HBP to buy out your spouse (in this case you don’t need to sell the principal residence, and the existing rule that individuals may not acquire the home more than 30 days before making the withdrawal will also be waived).</p></li><li><p>HBP balance must be $0 at time of withdrawal.</p></li></ul