First-Time Home Buyer Programs in Canada
By Hami Tahm · Last reviewed October 2026 · Every rule checked on its official page on October 27, 2026
What help is there for first-time home buyers in Canada?
According to HomeCalc.ca: Federally, you can save up to $40,000 in an FHSA, withdraw up to $60,000 from your RRSPs under the Home Buyers' Plan (repayable), claim the Home Buyers' Amount tax credit ($1,400 in 2026), get up to $50,000 back on the GST/HST of a new home, and take a 30-year insured mortgage. Ontario, Toronto, British Columbia and Prince Edward Island cut transfer tax for first-time buyers, and Saskatchewan has a provincial tax credit.
This page covers the programs that change what you pay for a home or how much you can put down. For the detailed rules of the registered accounts themselves, follow the CRA links. Use the down payment calculator to see the minimum you need, and the land transfer tax calculator to apply the first-time buyer relief for your province.
Federal programs
| Program | What it's worth | Who qualifies | Type |
|---|---|---|---|
| First Home Savings Account (FHSA) | Contribute up to $8,000 a year, $40,000 lifetime; contributions are tax-deductible and a qualifying withdrawal for a first home is tax-free. | Canadian residents aged 18 (19 in some provinces) to 71 who did not live, in this year or the previous 4 calendar years, in a home they or their spouse owned. | Tax-free savings — not repaid |
| Home Buyers' Plan (HBP) | Withdraw up to $60,000 from your RRSPs to buy or build a qualifying home; it must be repaid to your RRSPs over 15 years. | First-time home buyers (or buyers for a person with a disability) meeting CRA's HBP conditions. For a first withdrawal between January 1, 2026 and December 31, 2028, repayments start in the fifth year after the withdrawal. | Your own savings, borrowed from your RRSP — repayable |
| Home Buyers' Amount (First-Time Home Buyers' Tax Credit) | A non-refundable credit on $10,000, worth $1,400 in 2026 at the 14% lowest federal rate. Spouses can split it but not double it. | You (or your spouse) bought a qualifying home in Canada and did not live in a home either of you owned in the year of purchase or the previous four years. | Tax saving — only if you owe federal tax |
| First-time home buyers' GST/HST rebate (new homes) | Up to $50,000 of the federal GST (or federal part of HST) on a new home: full up to $1 million, reduced between $1 million and $1.5 million. | First-time buyers of a new home as their primary residence, under an agreement entered into on or after March 20, 2025 and before 2031. Resale homes do not qualify. | Reduces sales tax on a new home |
| 30-year amortization on insured mortgages | Spreads repayment over up to 30 years instead of 25, lowering the monthly payment (you pay more interest over the life of the loan). | First-time buyers with an insured (less than 20% down) mortgage, since December 15, 2024. | Lower monthly payment — not a grant |
The FHSA contribution limit is $8,000 a year. The Home Buyers' Amount is worth $1,400 for 2026 because the lowest federal tax rate is 14% this year (CRA 2026 rates). Older figures of $1,500 used the previous 15% rate.
Provincial and city programs
| Program | What it's worth | Who qualifies | Type |
|---|---|---|---|
| Ontario: Land transfer tax refund for first-time homebuyers | Refund of up to $4,000 of provincial land transfer tax. | Buyers at least 18 who have never owned a home or an interest in one anywhere in the world (nor their spouse while married to them), occupying it as their principal residence within nine months. | Reduces closing costs |
| Toronto: Municipal land transfer tax first-time buyer rebate | Rebate of up to $4,475 of Toronto's municipal land transfer tax, on top of the Ontario refund. | Canadian citizens or permanent residents at least 18 who have never owned a home anywhere, occupying the home within nine months. | Reduces closing costs |
| British Columbia: First time home buyers' program (property transfer tax) | No property transfer tax on the first $500,000 when the home's fair market value is $835,000 or less; a partial exemption between $835,000 and $860,000. | Canadian citizens or permanent residents meeting BC residency rules who have never owned a principal residence anywhere and never received the exemption. | Reduces closing costs |
| Prince Edward Island: Real property transfer tax first-time home buyers exemption | The real property transfer tax is waived for a qualifying first-time buyer, with no value cap (PEI removed its $200,000 cap effective October 1, 2016). | Canadian citizens or permanent residents meeting PEI residency or tax-filing rules who have never held an interest in a principal residence and never received the exemption. | Reduces closing costs |
| Saskatchewan: First-time Homebuyers' Tax Credit | A non-refundable Saskatchewan credit on $15,000, worth up to $1,575 at the 10.5% lowest Saskatchewan rate (homes acquired from 2025). | Saskatchewan taxpayers who did not live in a home they owned in the year of purchase or the previous four years. | Tax saving — only if you owe Saskatchewan tax |
Not listed here yet
Quebec's programs, Ontario's new-home HST relief and programs in other provinces and territories are not in these tables because we have not finished checking them against official sources. That does not mean they don't exist. Ontario buyers of a new home can read how the HST rebates work in our Ontario HST guide.
Transfer tax relief: worked examples
Computed by HomeCalc's land transfer tax engine for a first-time buyer. See the Ontario, Toronto and BC pages for the full rules.
| Where | Price | Transfer tax before relief | First-time buyer relief | Note |
|---|---|---|---|---|
| Ontario (outside Toronto) | $700,000 | $10,475 | $4,000 | Provincial refund capped at $4,000. |
| Toronto | $700,000 | $20,950 | $8,475 | Ontario refund plus the Toronto rebate. |
| British Columbia | $450,000 | $7,000 | $7,000 | Fair market value under $500,000: fully exempt. |
| British Columbia | $750,000 | $13,000 | $8,000 | Exempt on the first $500,000 (worth $8,000). |
| British Columbia | $900,000 | $16,000 | $0 | Above $860,000: no exemption. |
| Prince Edward Island | $400,000 | $4,000 | $4,000 | Waived in full; no value cap. |
GST/HST rebate on a new home: worked examples
| New home price | Rebate |
|---|---|
| $600,000 | $30,000 |
| $1,000,000 | $50,000 |
| $1,250,000 | $25,000 |
| $1,500,000 | $0 |
Can you stack them?
Many buyers use several programs, but adding them into one "total benefit" is misleading. FHSA and Home Buyers' Plan money is your own savings, and the HBP has to be repaid to your RRSP. Tax credits only lower tax you owe. Transfer-tax relief and the GST/HST rebate reduce specific closing costs, and the GST/HST rebate only applies to new homes. To see how these fit your own purchase, use the Homebuyer Journey or the closing cost calculator. Deciding whether to buy yet? Read first-time buyer: rent or buy.
Frequently asked questions
Sources
- CRA — Opening your FHSAs — First Home Savings Account (FHSA) (checked October 27, 2026)
- CRA — The Home Buyers' Plan — Home Buyers' Plan (HBP) (checked October 27, 2026)
- CRA — Line 31270 Home buyers' amount; CRA 2026 tax rates — Home Buyers' Amount (First-Time Home Buyers' Tax Credit) (checked October 27, 2026)
- CRA GST/HST Memorandum 19-3-10 — First-time home buyers' GST/HST rebate (new homes) (checked October 27, 2026)
- Department of Finance Canada — 30-year amortization on insured mortgages (checked October 27, 2026)
- Ontario — Land transfer tax refunds for first-time homebuyers — Land transfer tax refund for first-time homebuyers (checked October 27, 2026)
- City of Toronto — MLTT rebate opportunities — Municipal land transfer tax first-time buyer rebate (checked October 27, 2026)
- BC Ministry of Finance — First time home buyers' program — First time home buyers' program (property transfer tax) (checked October 27, 2026)
- Government of PEI — first-time home buyers exemption; RPTTG:101 — Real property transfer tax first-time home buyers exemption (checked October 27, 2026)
- Government of Saskatchewan — First-time Homebuyers' Tax Credit — First-time Homebuyers' Tax Credit (checked October 27, 2026)
- CRA — 2026 tax rates — lowest federal rate used for the Home Buyers' Amount (checked October 27, 2026)
- PEI RPTTG:101 — removal of the $200,000 cap (checked October 27, 2026)
This page is general information, not tax or legal advice. Program rules change; confirm with the official source, your lawyer or notary, or a tax professional before you rely on a program.
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