First Home Savings Account (FHSA)
Unlock the door to homeownership with a First Home Savings Account
Understanding FHSAs
A First Home Savings Account (FHSA) is a tax-advantaged savings account in Canada that helps first-time homebuyers save up to $40,000 for a home purchase, with contributions being tax-deductible and withdrawals for a home tax-free
Why invest in a FHSA?
Reduce your taxable income
Contributions to your FHSA reduce your taxable income.
Grow your savings tax-free
Any interest or income earned on your FHSA is tax-sheltered.
Saving a little over time adds up
A FHSA can be opened with an initial deposit of $50. The pre-authorized payments plan offers flexible contributions tailored to different budgets.
Combine programs
The Home Buyers' Plan and FHSA can both be used to purchase a qualifying home.
Getting Started with a FHSA
A secure and flexible way to save for a first home
*Rates are subject to change
FHSA vs. Other Registered Plans
A FHSA can help first-time homebuyers purchase a home sooner because it combines features of other registered plans like RRSPs and TFSAs
More information can be found on the CRA website
More information can be found on the CRA website
Set up a FHSA and take the first step toward homeownership
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Copyright 2025 League Savings and Mortgage Company. All rights reserved.
Copyright 2025 League Savings and Mortgage Company. All rights reserved.
