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FHSA Calculator

Calculate your First Home Savings Account benefits and plan your path to homeownership.

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Ready to Calculate?

Fill in your information on the left and click Calculate FHSA Benefits to see your personalized results.

What is the FHSA?

The First Home Savings Account (FHSA) is a registered savings account that helps Canadians save for their first home. It combines the best features of RRSPs and TFSAs:

  • Tax-deductible contributions like an RRSP (reduce your taxable income)
  • Tax-free withdrawals like a TFSA (when used for first home purchase)
  • Tax-free investment growth inside the account

Key Features:

  • Annual contribution limit: $8,000
  • Lifetime contribution limit: $40,000
  • Maximum participation period: 15 years
  • Available to Canadian residents aged 18-71 who are first-time home buyers