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FHSA Calculator (2026)

Project your First Home Savings Account — growth plus the tax refunds your contributions generate. The FHSA is deductible like an RRSP and tax-free like a TFSA.

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Annual contributionUp to $8,000/year ($40,000 lifetime).

Years contributingMax 5 years to reach the lifetime limit.

Expected annual return (%)

Your marginal tax rate (%)For the deduction refund.

FHSA, RRSP or TFSA first?

Each account shelters growth differently. Our guide compares them so you can decide which one to fund first.

Read: RRSP vs TFSA →

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Why the FHSA is the best account for first-time buyers

Deductible going in — contributions lower your taxable income, like an RRSP.
Tax-free coming out — growth and qualifying withdrawals for a first home are tax-free, like a TFSA.
Limits: $8,000 per year, $40,000 lifetime; unused room carries forward (up to $8,000).

Contributions are capped at $8,000/year and $40,000 lifetime — amounts above are ignored in this estimate.

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