UpFront Wealth

Canadian home buyer tool

Home Savings Planner

Plan your path to homeownership using Canadian programs like FHSA, HBP, and first-time buyer incentives.

Home Details
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Your Savings
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HISA ~4-5%, GIC ~4%, balanced portfolio ~6-7%

Canadian Programs

$8,000/year limit, $40,000 lifetime. Tax-deductible contributions, tax-free withdrawals.

Withdraw up to $60,000 from your RRSP tax-free for your first home.

FHSA

Tax-Free
  • $8,000/year contribution limit
  • $40,000 lifetime maximum
  • Contributions are tax-deductible
  • Withdrawals are tax-free for first home
  • Must be open 1+ year before withdrawal

Home Buyers' Plan (HBP)

RRSP
  • Withdraw up to $60,000 from RRSP tax-free
  • Must repay over 15 years (starts 2nd year)
  • Unpaid amounts added to your income
  • Must be a first-time home buyer

First-Time Home Buyer Incentive

Ended March 2024
  • Program closed to new applications March 21, 2024
  • Previously offered 5–10% shared equity from CMHC
  • Existing participants are unaffected
  • No longer available for new home purchases

First-Time Home Buyers' Tax Credit

CRA
  • $10,000 non-refundable tax credit
  • Worth $1,500 at 15% federal rate
  • Claim in the year you buy your home
  • Can split with spouse/partner