The FHSA, Home Buyers’ Plan (HBP) associated with the RRSP, and the TFSA are all great savings accounts for first-time buyers.
The HBP allows you to use your RRSP to buy your first home.
The TFSA is a savings plan used to grow your money for whatever project you may have.
The FHSA combines the advantages of the two and can only be used only for purchasing your first property.
Learn about all the details and advantages of these savings plans by referring to our help centre.
Good to know
You can combine the FHSA and HBP for the purchase of the same eligible home.