Savings2 min read · Updated October 21, 2026
The FHSA: a tax-free first-home savings account
How the First Home Savings Account works, its limits, and how it pairs with the RRSP Home Buyers' Plan.
The numbers
| Yearly limit | $8,000 |
| Lifetime limit | $40,000 |
| Home Buyers' Plan | $60,000 |
Check the rules
Eligibility rules are on canada.ca. Confirm there before you open an account.
Common questions
What is the FHSA limit?
$8,000 a year, $40,000 for life.