Every First-Time Home Buyer Program in Canada, Stacked (2026 Edition)
By Jordan Ellis · Published · Reviewed
Quick Answer
A first-time buyer couple using every available program can access roughly $80,000 of FHSA money (tax-free in and out), $120,000 of RRSP money via the Home Buyers' Plan, up to $8,475 in land transfer tax rebates (Toronto), a $1,400 federal tax credit (2026), the GST back on a new home up to $1 million, and 30-year amortizations on insured mortgages — a combined advantage worth tens of thousands of dollars.
Canada’s first-time buyer programs are scattered across five agencies and three levels of government. Assembled properly, they’re worth more than most people’s down payment savings rate. Here’s the full stack, in the order to use it.
1. The FHSA — open it before anything else
$8,000/year, $40,000 lifetime, deductible going in, tax-free coming out. The catch that costs people thousands: room only accumulates once the account is open. Open it now with a symbolic deposit; fund it when you can. Full strategy in our FHSA guide and projections in the FHSA calculator.
2. The Home Buyers’ Plan — the old workhorse
Withdraw up to $60,000 from your RRSP tax-free for a qualifying purchase, repaid over 15 years. Repayments normally start in the second year after the withdrawal, but for a first withdrawal made from 2022 to 2028 they start in the fifth year. Stacks with the FHSA for the same home. A couple maxing both tools commands $200,000+ of tax-advantaged money before growth.
3. Land transfer tax rebates — free money at closing
- BC: no tax on the first $500,000 (up to $8,000) for homes up to $835,000, phasing out by $860,000
- Ontario: up to $4,000
- Toronto: up to an additional $4,475
- PEI: full exemption for most first-time buyers
Price your exact figure with the land transfer tax calculator — and see the province-by-province pain ranking in our LTT comparison.
4. The First-Time Home Buyers’ Tax Credit
A $10,000 non-refundable credit worth $1,400 off federal tax for a 2026 purchase (14% of $10,000). Small, but it’s a line on your return — claim it.
5. 30-year insured amortizations
Since December 15, 2024, all first-time buyers (and anyone buying a newly built home) can take a 30-year amortization on an insured (under-20%-down) mortgage, with a 0.20% insurance premium surcharge. It lowers payments roughly 8% and raises your stress-tested ceiling. Model the difference in the mortgage calculator (toggle 25 vs 30 years) and your qualifying power in the stress test calculator.
The stacking math for a couple
| Program | Combined value |
|---|---|
| FHSA × 2 | $80,000 + growth, tax-free |
| HBP × 2 | $120,000, repayable |
| LTT rebates (Toronto) | up to $8,475 saved |
| FTHB tax credit | $1,400 (2026) |
| First-time buyers’ GST rebate (new builds) | up to $50,000 |
Bottom line
Sequence matters: FHSA first (the clock), RRSP contributions sized for the HBP next, rebates claimed at closing, the credit at tax time. And before any of it — know your real ceiling with the stress test calculator so you’re shopping in the right price band.
Official sources
Rules and dollar limits change. Confirm current amounts with the official pages below before you act · Last reviewed .
- First-time home buyers' GST/HST rebate (Canada Revenue Agency)
- The Home Buyers' Plan (Canada Revenue Agency)
- First Home Savings Account (FHSA) (Canada Revenue Agency)
- Mortgage loan insurance cost (CMHC)