First-Time Home Buyer Programs in Canada

First-time buyers in Canada have access to a powerful set of government programs that can cut your taxes, speed up your savings, and reduce your closing costs — and many of them can be used together. This guide rounds up the major programs available in 2026, with the exact limits for each and links to deeper explainers.

Key takeaways

• The FHSA lets you save up to $40,000 lifetime with tax-deductible contributions and tax-free withdrawals.
• The RRSP Home Buyers' Plan lets you withdraw up to $60,000 ($120,000 per couple) tax-free.
• First-time buyers can claim land transfer tax rebates of up to $4,000 provincially and $4,475 in Toronto.
• The First-Time Home Buyers' GST rebate gives up to $50,000 back on qualifying new homes.
• These programs stack — and HOMEH adds the industry's highest Cashback Rebate on top.

The FHSA (First Home Savings Account)

The FHSA is the newest and arguably most powerful tool for first-time buyers. It combines the best of an RRSP and a TFSA: contributions are tax-deductible (like an RRSP) and qualifying withdrawals to buy your first home are tax-free (like a TFSA).

It's the rare account that gives you a tax deduction going in and tax-free money coming out. Read the full details in our FHSA guide.

The RRSP Home Buyers' Plan

The Home Buyers' Plan (HBP) lets you withdraw from your RRSP to buy or build your first home without paying tax on the withdrawal. You can take out up to $60,000 per person — or $120,000 for a couple who both qualify — then repay it to your RRSP over 15 years.

Combine it with the FHSA

You can use the FHSA and the Home Buyers' Plan together. Stacked, that's up to $100,000 of tax-advantaged down payment funds for one person. See the Home Buyers' Plan explainer.

Land transfer tax rebates

Land transfer tax is often the largest closing cost — but first-time buyers in Ontario get a break. You can claim a provincial rebate of up to $4,000, and if you buy in the City of Toronto, an additional municipal rebate of up to $4,475.

Read how to claim it in our land transfer tax rebate guide.

The GST rebate on new homes

If you're buying a newly built home, the First-Time Home Buyers' GST/HST Rebate can return up to $50,000. The full GST is removed on qualifying new homes valued up to $1,000,000, with the benefit phased out between $1M and $1.5M.

Timing matters

This rebate applies where the purchase agreement is signed on or after May 27, 2025, and before 2031. Check eligibility carefully, as new-construction rules can be complex.

See the dedicated GST rebate on new homes guide for the details.

How the programs stack

The real power is in combining these programs. A first-time buyer might build a down payment in an FHSA, top it up with an RRSP Home Buyers' Plan withdrawal, claim land transfer tax rebates at closing, and — if buying new — qualify for the GST rebate. Start with the full picture in our first-time home buyer guide for Ontario, and check the rules in how much down payment you need.

Add HOMEH cashback on top

On top of every government program, eligible HOMEH buyers receive the industry's highest Cashback Rebate. Combined, these benefits can save first-time buyers tens of thousands of dollars. Estimate yours with the cashback calculator or plan ahead with the down payment calculator.