Every First-Time Home Buyer Program in Canada (2026)

Federal Programs — Available Everywhere in Canada

1. First Home Savings Account (FHSA)

The FHSA lets you save up to $8,000/year (max $40,000 lifetime) with tax-deductible contributions and tax-free withdrawals for a first home. Couples can combine for $80,000 total. Official Canada.ca info →

2. RRSP Home Buyers' Plan (HBP)

Withdraw up to $60,000 per person ($120,000 per couple) from your RRSP tax-free. Repay over 15 years. Stack with FHSA for up to $200,000 per couple. Official Canada.ca info →

3. First-Time Home Buyers' Tax Credit

Claim $10,000 on line 31270 of your T1 return for a $1,500 non-refundable federal tax credit. Both partners can claim it if purchasing together.

4. GST/HST New Home Rebate (Bill C-4, 2026)

Removes GST/HST on newly built homes under $1M. In Ontario, this saves $50,000–$130,000 on a new build. Official info →

5. 30-Year Insured Amortization

First-time buyers of newly built homes can access a 30-year amortization with less than 20% down, reducing monthly payments vs. the standard 25-year.

Key Provincial Programs

• Ontario: LTT rebate up to $4,000 + HST New Home Rebate up to $130,000
• BC: Property Transfer Tax exemption on homes under $500K
• Alberta: No provincial land transfer tax — saves $5,000–$15,000+
• Manitoba: LTT rebate up to $4,500 + rural homeownership program
• Quebec: Provincial tax credit ~$750 on top of federal credit
• Nova Scotia: 2% minimum down payment pilot program (2026)

Stack These Programs for Maximum Savings

A couple buying their first home in 2026 could access over $200,000 in tax-free or tax-advantaged funds between the FHSA, RRSP HBP, and federal credits — before provincial programs.

FHSA — Most Powerful Tool

$8,000/year · $40,000 lifetime per person · Tax deductible like RRSP · Tax-free withdrawal · No repayment required · Unused room carries forward. A couple maxing FHSAs for 5 years: $80,000 tax-free plus $20,000–$30,000 in tax deductions.

RRSP Home Buyers Plan

Withdraw up to $60,000/person tax-free from RRSP. Must repay over 15 years. RRSP funds must have been in account 90+ days before withdrawal.

Stacking Strategy for Manitoba Couples

1. Open FHSAs now — $8,000 each/year
2. Build RRSP to $60,000+ for HBP eligibility
3. At purchase: $40,000/person FHSA + $60,000/person HBP = $200,000 couple down payment
4. Claim $1,500 federal tax credit
5. Apply for Manitoba LTT rebate up to $4,500
6. If new build: claim GST rebate through builder

⚠️ This article is for informational purposes only. Not financial advice. Canada Mortgage Rates is not a licensed mortgage broker. Always verify with a licensed professional.