Two federal programs help first-time buyers build a down payment. This FHSA calculator adds up what you could have by the time you buy, for one buyer or two. Limits checked October 3, 2026.
The limits used
- FHSA: $8,000 of contribution room a year and $40,000 over your lifetime, per person. A qualifying withdrawal for your first home is tax-free and never repaid.
- Home Buyers’ Plan: up to $60,000 from your RRSPs, per person, repaid over 15 years.
- The CRA allows both for the same home, if you meet the conditions of each.
- The planner assumes no investment growth, so the real figure may differ.
How the two work together: FHSA and the Home Buyers’ Plan.
More tools: all calculators. Guides: first-time buyer guide.
Sources (official pages, checked October 3, 2026)
- CRA – Participating in your FHSAs ($8,000/yr, $40,000 lifetime, carry-forward)
- CRA – Withdrawals from your FHSAs (tax-free qualifying withdrawal; FHSA + HBP on the same home)
- CRA – The Home Buyers’ Plan ($60,000 limit; repayment deferral for 2026-2028 withdrawals)
- Financial Consumer Agency of Canada – Down payment (minimums, mortgage loan insurance)
Programs and limits change, often at budget time. Confirm the current rules on the official page before you rely on them.
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General information only – not financial, legal or mortgage advice. Please consult a licensed professional about your own situation.