Skip to main content

Calculators

Rates as of

FHSA and Home Buyers' Plan calculator

The short answer

First-time buyers can use two tax-sheltered accounts for a down payment. An FHSA holds up to $40,000 per person ($8,000 a year) and is withdrawn tax-free and never repaid. The Home Buyers' Plan lets each buyer take up to $60,000 from an RRSP, repaid over 15 years.

Toward your down payment

$56,000

From your FHSA (tax-free, never repaid)$16,000
From your RRSP (Home Buyers' Plan)$30,000
HBP repayment per year, for 15 years$2,000

Limits from the Canada Revenue Agency. Estimate only, not financial advice.

Questions

Questions

Can I use an FHSA and the Home Buyers' Plan together?

Yes. A qualifying first-time buyer can withdraw from an FHSA and use the Home Buyers' Plan for the same home.

Do I repay FHSA withdrawals?

No. A qualifying FHSA withdrawal for a first home is tax-free and is never repaid.

When does Home Buyers' Plan repayment start?

For withdrawals made in 2026 or later, repayments start in the second year after the withdrawal and run for 15 years. Withdrawals made from 2022 to 2025 have a longer grace period.