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The purchase of a home is the largest purchase most people make during their lifetime. At Dominion Lending Centres, we want to make each and every purchaser aware of the many mortgage options available to them.

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  • Testimonial

    Brittney, Satisfied Customer

    The Dominion Mortgage Team was so great to work with because they answered all of my questions and explained the whole process to me.
  • Testimonial

    Greg Irwin, Satisfied Customer

    The mortgage process was the most stress free part of the whole purchase and move!
  • Testimonial

    Valinda, Satisfied Customer

    My agent was very understanding, approachable and listened to my needs and concerns and made very good suggestions.
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    Adam & Cheryl Tempelaar

    Awesome! We will definitely be back when it's time to re-mortgage or buy a new house.
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    Ashlee & Luis Sanchez

    We didn't feel like we were taken advantage of. We felt extremely comfortable; we also felt that we were top priority and everything was going to be done that would best meet our financial situation.
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Dominion Lending Centres | Regional Mortgage Group
Dominion Lending Centres

Dominion Lending is a mortgage and leasing company with more than 2,000 members offering free expert advice across Canada for all your mortgage needs:

  • Residential Mortgages
  • Commercial Mortgages
  • Equipment Leasing

Mortgage Questions

Using RRSPs for Down Payment

The Home Buyers’ Plan (HBP) allows first-time home buyers to withdraw amounts from a Registered Retirement Savings Plan (RRSP) to purchase or build a home without having to pay tax on the withdrawal. Budget 2009 increased the HBP withdrawal limit to $25,000 from $20,000.

For HBP purposes, an individual is generally considered to be a first-time home buyer if neither the individual nor the individual’s spouse or common-law partner owned and lived in another home in the calendar year in which the HBP withdrawal is made or in any of the four preceding calendar years.

Special rules apply to facilitate the acquisition of a home that is more accessible or better suited for the personal needs and care of an individual who is eligible for the disability tax credit, even if the first-time home-buyer requirement is not met. These rules have also been modified to provide the same $25,000 withdrawal limit.

Notes on the Program:

  • Withdrawn funds must generally be used to acquire a home before October of the year following the year of withdrawal.
  • Amounts withdrawn under the HBP are repayable in instalments over a period not to exceed 15 years.
  • To the extent that a scheduled repayment for a year is not made, it is added to the participant’s income for the year.
  • A special rule denies an RRSP deduction for contributions withdrawn under the HBP within 90 days of being contributed.

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For more information on any program you may be interested in please either email us at This email address is being protected from spambots. You need JavaScript enabled to view it. or call 403-343-1125 to set up an appointment with an agent.