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)

⚠️ 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.