Can I use both the FHSA and the Home Buyers' Plan for the same home?

Yes. Since 2023 you can withdraw from an FHSA and make an HBP withdrawal from your RRSP for the same qualifying purchase. A couple could combine $80,000 of FHSA savings with $120,000 of HBP withdrawals, plus the growth in the FHSAs.

When do HBP repayments start?

For a first withdrawal made in 2022 through 2025, repayments start in the fifth year after the withdrawal instead of the second. The Spring Economic Update 2026 extended that five-year grace to first withdrawals made in 2026, 2027 and 2028. Repayment is then one-fifteenth a year; any shortfall is added to your income.

How is 'first-time buyer' defined?

It depends on the program. The federal tax credit, the HBP, the FHSA and the GST rebate all use a four-year test: you did not live in a home you or your spouse owned in the year and the four years before. Ontario's land transfer refund and BC's exemption are stricter: you can never have owned a home anywhere. The mortgage 30-year rule uses the four-year test.

Is the $1,400 credit the same as the $10,000 Home Buyers' Amount?

Yes. Line 31270 lets you claim $10,000, and a non-refundable credit is worth the lowest federal rate times the amount: 14% in 2026, so $1,400. Quebec has its own $10,000 amount worth $1,400 provincially, and Saskatchewan's credit is worth up to $1,575.

Is there a federal First-Time Home Buyer Incentive?

Not any more. The shared-equity incentive stopped taking applications in March 2024. The programs in this guide are the ones that exist for 2026.

Every first-time home buyer program in Canada for 2026, stacked

Federal programs

First-time home buyers’ GST/HST rebate. New homes only. 100% of the GST (5%) up to $1,000,000, a maximum of $50,000, phasing out to zero at $1,500,000; agreements signed on or after March 20, 2025. Ontario adds up to $80,000 for its 8% part. Claimed by the builder at closing on Form GST190. Full detail in the GST rebate guide; work it out with the new-home HST rebate calculator.

First Home Savings Account. $8,000 of room a year, $40,000 lifetime, carry-forward of one unused year. Contributions are deductible like an RRSP; withdrawals for a qualifying first home are tax-free like a TFSA. Open one the year you start saving so room accumulates; unused money rolls to an RRSP without using RRSP room. The RRSP vs TFSA vs FHSA comparison shows why it wins for anyone who might buy.

Home Buyers’ Plan. Withdraw up to $60,000 per person from an RRSP, tax-free, for a first home. Repay over 15 years, starting in the fifth year after the withdrawal for first withdrawals made from 2022 through 2028 (the 2026 Spring Economic Update extended the five-year grace, which had been due to lapse after 2025). Combine with the FHSA for the same purchase.

Home buyers’ amount. Claim $10,000 on line 31270 of your return in the year of purchase; worth $1,400 at the 2026 lowest federal rate of 14%. Split it between co-buyers any way you like, up to $10,000 total. Quebec’s provincial version is also worth $1,400; Saskatchewan’s credit is worth up to $1,575.

Mortgage rules for first-time buyers. Since December 15, 2024, an insured mortgage (under 20% down) can run 30 years instead of 25 for first-time buyers and for anyone buying a newly built home, at a 0.20-point higher insurance premium. The insured price cap is $1,500,000, with 5% down on the first $500,000 and 10% on the rest. The mortgage calculator applies the premium, the cap and the minimum down payment.

Provincial and city relief on land transfer tax

Where	Relief for a first-time buyer	Worth up to
Ontario	Refund of the provincial land transfer tax	$4,000 (covers homes to $368,000)
Toronto	Refund of the municipal land transfer tax, on top of Ontario’s	$4,475
British Columbia	Full exemption on homes up to $835,000, partial to $860,000	$8,000
Quebec	Refundable credit against the welcome tax from 2026: 100% of the first $5,000 plus 25% of the rest, reduced above $750,000, nil at $1,000,000	$5,875
Prince Edward Island	Full exemption from the 1% real property transfer tax	1% of the price
Nova Scotia	HST rebate of 18.75% of the provincial part on a new home	$3,000
Alberta, Saskatchewan, Manitoba, New Brunswick, Newfoundland and Labrador, the territories	No land transfer relief (Alberta, Saskatchewan, NL and the territories charge fees rather than a tax; Manitoba and New Brunswick have no first-time rebate)	—

Ontario and BC use the strict test: you must never have owned a home anywhere in the world, and your spouse must not have owned one while your spouse. Quebec and the federal programs use the four-year test. The land transfer tax calculator applies the right one for your province and city.

Putting it together

For a couple buying an $850,000 new home in Ontario in late 2026 with 10% down, both first-time buyers: the HST rebates return the full $110,500 of HST (credited at closing), the Ontario and Toronto land transfer refunds are worth up to $8,475, the home buyers’ amount saves $1,400 on the return, an FHSA opened in 2023 holds up to $32,000 each of deductible contributions, and each can draw $60,000 from an RRSP with repayments starting in 2031. The mortgage can run 30 years. Each of these is claimed in a different place; the “How to get it” list on each calculator page walks through the order.

Questions people ask

Can I use both the FHSA and the Home Buyers' Plan for the same home?: Yes. Since 2023 you can withdraw from an FHSA and make an HBP withdrawal from your RRSP for the same qualifying purchase. A couple could combine $80,000 of FHSA savings with $120,000 of HBP withdrawals, plus the growth in the FHSAs.
When do HBP repayments start?: For a first withdrawal made in 2022 through 2025, repayments start in the fifth year after the withdrawal instead of the second. The Spring Economic Update 2026 extended that five-year grace to first withdrawals made in 2026, 2027 and 2028. Repayment is then one-fifteenth a year; any shortfall is added to your income.
How is 'first-time buyer' defined?: It depends on the program. The federal tax credit, the HBP, the FHSA and the GST rebate all use a four-year test: you did not live in a home you or your spouse owned in the year and the four years before. Ontario's land transfer refund and BC's exemption are stricter: you can never have owned a home anywhere. The mortgage 30-year rule uses the four-year test.
Is the $1,400 credit the same as the $10,000 Home Buyers' Amount?: Yes. Line 31270 lets you claim $10,000, and a non-refundable credit is worth the lowest federal rate times the amount: 14% in 2026, so $1,400. Quebec has its own $10,000 amount worth $1,400 provincially, and Saskatchewan's credit is worth up to $1,575.
Is there a federal First-Time Home Buyer Incentive?: Not any more. The shared-equity incentive stopped taking applications in March 2024. The programs in this guide are the ones that exist for 2026.

Sources

Every figure in this guide comes from one of these primary sources, checked on September 9, 2026.