What is the first-time home buyer plan?

You can use the funds in your RRSP  as a down payment to purchase your first home.  You have up to fifteen years to repay the amount you take out from your RRSP.  The amount you take out from your RRSP to purchase your first home is TAX-free.  You should talk to a professional during this process to ensure you received tailor advise. Read more here...