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Through our years of experience, we've also learned that while each channel has its own set of advantages, they all work best when strategically paired with other channels.

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Investments

First Home Savings Account (FHSA)

The FHSA is designed to help Canadians achieve homeownership faster. It combines the benefits of a TFSA and RRSP — contributions are tax-deductible and qualifying withdrawals are tax-free.

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$8,000 Annual contribution limit
$40,000 Lifetime contribution limit
Tax-deductible Contributions reduce your income
Tax-Free Qualifying home purchase withdrawals
How it works
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1

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2

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3

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Meet Sri on Zoom or in person to submit your application. Many plans are approved within 24–72 hours—often with no medical exam required.

About this coverage
Save for Your First Home Tax-Free

The FHSA is a registered account for first-time homebuyers that combines the benefits of a TFSA and an RRSP. Contributions are tax-deductible (reducing your taxable income like an RRSP), investment growth is tax-free, and when you withdraw funds to purchase your first qualifying home, the withdrawals are also tax-free. The annual contribution limit is $8,000 with a lifetime limit of $40,000.

To open an FHSA you must be a Canadian resident, 18 years or older, a first-time homebuyer (or not have owned a home in the past four years), and have a valid SIN. You can combine your FHSA with the Home Buyers' Plan (HBP) from your RRSP for combined tax-free funds of up to $100,000 toward your first home purchase.

Key benefits
FHSA Key Features and Benefits

Tax-free home purchase

Withdraw your full FHSA balance completely tax-free when purchasing your first qualifying home.

Reduces taxable income

Like an RRSP, contributions are deducted from your income in the year they are made.

Tax-free growth

Investments grow without being taxed inside the account — maximizing your down payment fund.

Transfer option to RRSP

If you do not buy a home, transfer the full balance to your RRSP with no immediate tax consequences.

Room carries forward

Unused $8,000 annual room carries forward — you have up to 15 years from opening to use it.

Combine with HBP

Stack your FHSA with the RRSP Home Buyers Plan for up to $100,000 combined toward your first home.

Common questions
Frequently asked questions
Canadian residents aged 18 or older who are first-time homebuyers — meaning they have not owned a qualifying principal residence at any time in the current calendar year or in the four preceding calendar years.
Yes — you can stack both for a combined total of up to $100,000 tax-free toward your first home ($40,000 FHSA lifetime maximum plus $35,000 RRSP HBP withdrawal). This makes the FHSA one of the most powerful first-home savings tools available to Canadians.
You can hold cash, ETFs, stocks, bonds, mutual funds, GICs, and segregated funds within an FHSA. Sri recommends using higher-growth investments to build your down payment faster while there is time for the account to grow.

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Licensed in BC, Alberta, Ontario & Nova Scotia • Powered by Experior Financial Group