🏠 MORTGAGE & REAL ESTATE · UPDATED 2026

First-Time Home Buyer Calculator

Calculate every government benefit and rebate available to Canadian first-time home buyers — land transfer tax rebates, FHSA savings, HBP, and the first-time buyer tax credit.

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First-time buyers in Canada have access to thousands in government benefits

Between land transfer tax rebates, the FHSA tax deduction, the Home Buyers' Plan RRSP withdrawal, and the First-Time Home Buyers' Tax Credit, eligible Canadians can access over $30,000 in combined benefits. This calculator shows every dollar you qualify for.

📋 Your Details

🏠 The Home
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Toronto charges a second municipal Land Transfer Tax on top of Ontario's provincial LTT
New homes may qualify for HST New Housing Rebate
👤 About You
Couples can combine HBP withdrawals ($60K each = $120K combined)
$
Used to calculate tax credit value at your marginal rate
💰 Your Savings
$
Max $40,000 lifetime · $8,000/year · Fully tax-deductible and tax-free on withdrawal
$
You can withdraw up to $60,000 tax-free for your first home (HBP)
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TFSA, bank account, gifts, etc.
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Only if buying with a partner who is also a first-time buyer

🎁 Total First-Time Buyer Benefits & Savings
$0
Combined value of all programs you qualify for
Down Payment Available
$0
LTT Rebate
$0
Tax Credits
$0
Home Price
$0
Total Down Payment
$0
All sources combined
Down Payment %
0%
Of purchase price
LTT Rebate Total
$0
Provincial + municipal
FHSA Tax Savings
$0
Tax deduction value
Home Buyers' Tax Credit
$0
$10,000 × 15% federal
CMHC Insurance
$0
Required if <20% down

🎁 All First-Time Buyer Programs — Your Eligibility

💰 Your Down Payment Breakdown

Where your down payment comes from:

🏛️ Land Transfer Tax Breakdown

✅ First-Time Buyer Eligibility Checklist

💡 First-Time Buyer Tips for Canadians

🏦 Open an FHSA Immediately

The First Home Savings Account is the best tax deal in Canada for first-time buyers. Contributions are tax-deductible AND withdrawals are tax-free. Open one now — you earn contribution room every year even before you're ready to buy.

📅 The 90-Day RRSP Rule

Money contributed to your RRSP must sit there for at least 90 days before you can withdraw it under the Home Buyers' Plan. Plan ahead — don't rush a large RRSP contribution right before you need the funds.

🏠 30-Year Amortization for First-Time Buyers

Since August 2024, first-time buyers purchasing a newly built home can amortize over 30 years (vs. 25 years standard). This lowers your monthly payment significantly, though you pay more interest overall.

💳 File Your Taxes to Claim HBTC

The $1,500 First-Time Home Buyers' Tax Credit is claimed on your T1 tax return for the year you purchase. You have up to 4 years to file an amended return if you forget — but don't leave this money on the table.