First Time Home Buyer Program RRSP question

[eblend]

Hello,

Initially i was going to take out a morgage and then take out 20gs from my RRSP to purchase a home, but I no longer require a morgage, can I still pull out my RRSP under the New Home Buyer program or can it only be used for downpayment purposes?

[eblend]

Did some digging and it appears that all I have to do is fill out a form, the bank fills out the second part of the form, and then I can take out the money tax free from the account, regardless if its for a downpayment or not, as long as I already have agreed to purchase a house and everything else is already in order, so it appears that a morgage is not requred.

[MintRacer]

yep mortgage is not required.. but you still need to buy a house within a certain amount of time. otherwise the total amount gets added to your income for the year.