Quebec real estate glossary · French to English
RAP, régime d'accession à la propriété = Home Buyers' Plan (HBP). RAP is the Home Buyers' Plan, or HBP. The Canada Revenue Agency sets the current withdrawal limit at $60,000.
En bref, en français : Le RAP se dit Home Buyers' Plan (HBP) en anglais. L'Agence du revenu du Canada fixe la limite de retrait actuelle à 60 000 $.
RAP stands for régime d'accession à la propriété. The Canada Revenue Agency calls the same federal program the Home Buyers' Plan, abbreviated HBP.
The CRA describes it as a program that lets you withdraw from your registered retirement savings plans to buy or build a qualifying home, and states that the withdrawal limit is currently $60,000.
Two programs, often confused
The HBP is not the FHSA. The FHSA, called CELIAPP in French, is a savings account of its own. The HBP is a withdrawal from an RRSP that you repay over time. Many first-time buyers in Quebec use both, and the order in which you use them changes what you end up with.
Vocabulary you will need at the bank
- RRSP for REER.
- Home Buyers' Plan or HBP for RAP.
- FHSA for CELIAPP.
- Qualifying home for the property that makes you eligible.
Say it in a sentence
The word on its own is rarely the problem. These are the sentences you will actually hear, and what they become in English.
| Vous entendrez | In English |
|---|---|
| J'ai utilisé le RAP pour ma mise de fonds. | I used the Home Buyers' Plan for my down payment. |
| Le retrait maximum est de 60 000 $. | The maximum withdrawal is $60,000. |
| Je dois rembourser mon RAP chaque année. | I have to repay my HBP every year. |
The mistake we see most often
The mistake is forgetting that it is a loan to yourself. The FHSA is money you never pay back. The Home Buyers' Plan is an RRSP withdrawal you repay on a schedule, and a missed repayment is added to your taxable income for that year. Buyers who plan only around the withdrawal, and not around the repayments, get an unpleasant surprise at their first tax season as owners.
Where this fits in a Quebec transaction
Buying or selling in Quebec means signing documents that exist in both languages, written under civil law rather than common law. A word-for-word translation is sometimes right and sometimes actively misleading. The full list is in our Quebec real estate glossary, French to English.
Related terms
Questions we get asked
What is the RAP called in English?
The Home Buyers' Plan, abbreviated HBP. It is a federal program administered by the Canada Revenue Agency.
How much can I withdraw?
The CRA states that the HBP withdrawal limit is currently $60,000. Verify your own situation with the CRA or your institution before you plan around a number.
Can I use the HBP and the FHSA together?
They are separate programs and many buyers use both. Which one you draw on first affects the total, so it is worth running the numbers before you commit.
Published by the Loaa & Manseur team, number one team at RE/MAX Platine in 2024 and 2025. We work in French and in English. Tell us about your project.