FHSA and Home Buyers' Plan calculator

How much your First Home Savings Account and RRSP withdrawals can put toward the down payment, and what you repay.

First-time buyers in the household
Each eligible buyer has their own FHSA and Home Buyers' Plan limit.
Up to $8,000 a year plus up to $8,000 of unused room carried forward; $40,000 lifetime.
Up to $60,000 per buyer for withdrawals after April 16, 2024.
The default 29.65% is illustrative (a middle Ontario bracket, federal plus provincial); use your own.
Toward the down payment in 2028$94,946two buyers: FHSA $49,946 + HBP $45,000
FHSA balance per buyer
$24,973
$24,000 contributed
Tax refunds from FHSA deductions, per buyer
$7,116
Home Buyers' Plan per buyer
$22,500
limit $60,000
HBP repayments
$3,000 a year
from 2033, over 15 years
Home buyers' amount (federal credit)
$1,400
Next stepPut the total into the readiness check as your down payment, and see what it buys with the cash-to-close calculator.

Estimate, not advice. Educational estimate only, not financial, mortgage, tax or legal advice. Lenders, insurers and governments set their own rules and can change them; confirm with a licensed professional before you decide.

About $94,946 toward the down payment by 2028: $49,946 from FHSAs and $45,000 from the Home Buyers' Plan.

FHSA balance per buyer, year by yearBalance at the end of each year at your contribution and return.$0$6,250$12,500$18,750$25,000202520262027
Show the numbers
FHSA balance per buyer, year by year
FHSA balance
2025$8,000
2026$16,320
2027$24,973
Assumptions & sources

Assumptions

  • FHSA: $8,000 a year, up to $8,000 of unused room carried forward, $40,000 lifetime (CRA). Withdrawals for a qualifying home are tax-free and don't need to be repaid.
  • Home Buyers' Plan: up to $60,000 per buyer from an RRSP; repayments over 15 years, starting the fifth year after a 2022–2028 withdrawal, otherwise the second (CRA).
  • Growth is a steady return you choose; markets vary. Calculations by the shared MITEY engines, rules as of 2024-04-16.

Sources

  1. Canada Revenue Agency — Contributing to your FHSA (effective September 17, 2026). Checked .
  2. Canada Revenue Agency — What is the Home Buyers' Plan (effective February 17, 2026). Checked .
  3. Canada Revenue Agency — Line 31270 – Home buyers' amount (effective July 29, 2026). Checked .
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