Find out how much you can put in your First Home Savings Account right now, how much room you get on January 1, 2027, and how big your down payment fund and tax savings could be by the time you buy.
Room starts in the year you open your first FHSA: $8,000 a year, up to $40,000 for life.
How much your FHSA could grow, and what the deductions save you.
Room each year is $8,000 plus unused room from last year (carry-forward capped at $8,000).
| Year | Room | Contributed | Unused |
|---|
FHSA rules in short
| Rule | Amount |
|---|---|
| Annual limit | $8,000 |
| Lifetime limit | $40,000 |
| Carry-forward | Up to $8,000 of unused room |
| Maximum in one year | $16,000 (with full carry-forward) |
| How long it can stay open | 15 years, or until the end of the year you turn 71 |
Who can open an FHSA
You must be a Canadian resident, at least 18, and a first-time home buyer: you have not lived in a home that you or your spouse owned at any time this year or in the previous four calendar years. Room only starts building once you open your first FHSA, so opening one early, even with a few dollars, starts the clock.
Deduct now or later
Every dollar you put in is tax deductible, and you can carry the deduction forward to a year when your income, and your refund, is higher. Withdrawals for a qualifying first home are tax free. If you never buy, you can move the money to your RRSP without using RRSP room.
Compare your options: TFSA vs FHSA, FHSA vs RRSP and the FHSA explained.
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Frequently asked questions
How much can I put in my FHSA in 2026?
$8,000 plus up to $8,000 of unused room from 2025 if you opened your account before 2026, up to $16,000 in total.
Does FHSA room carry forward forever?
No. Only up to $8,000 of unused room carries into the next year.
Can I use an FHSA and the Home Buyers’ Plan together?
Yes. You can withdraw from both for the same qualifying home.
This calculator gives an estimate for general information only. Not financial or tax advice.
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