RRSP HBP - Can money be used to repay a loan towards a down payment?

[emmanuelja]

There's a rule that you can withdraw money from your RRSP from the HBP within 30 days of closing on a house. If I have money that I can't withdraw until 15 days after closing (due to the 90 day rule), can I pay a portion of the down payment using a loan/gift, then pay back that loan/gift using the RRSP money 15 days later?

 

[12344321]

@emmanuelja Yes, you can use the HBP money for hookers and blow, if you like. No requirement to use it on the house as long as you meet the HBP requirements.