FHSA + HBP Down Payment Maximizer | Dan Mehta, REALTOR®
Dan Mehta, MBA · REALTOR® · eXp Realty Brokerage

Maximize Your Down Payment
with FHSA + HBP

Most first-time buyers leave tens of thousands in tax-free savings on the table. This tool shows you exactly how to combine Canada's two most powerful programs — and how much you could save.

Your Financial Snapshot
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Purchase Timeline
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Investment Assumptions
5%
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Your Results
Savings Growth Projection
Year-by-Year Breakdown
Your Recommended Strategy
    HBP Repayment Schedule

    Your HBP withdrawal is interest-free, but must be repaid to your RRSP over 15 years starting in the 2nd year after purchase. iIf you miss a repayment, that amount is added to your taxable income for that year.

    Tax Savings Breakdown
    What If You Didn't Use FHSA + HBP?
    Ready to Put This Plan Into Action?

    Let's Turn These Numbers
    Into Keys

    Book a free strategy call — I'll walk you through your FHSA + HBP plan personally. No pressure, just honest guidance.

    Key Terms Explained
    FHSA
    First Home Savings Account — save up to $40,000 tax-free. Contributions are tax-deductible AND withdrawals are tax-free. No repayment required. Best vehicle available.
    HBP
    Home Buyers' Plan — borrow up to $60,000 from your RRSP tax-free. Must repay over 15 years (1/15th annually).
    Carry-Forward (FHSA)
    Unused annual FHSA room rolls to next year (max $8,000 extra). Open earlier to accumulate more room.
    Marginal Tax Rate
    The rate on your next dollar earned. Higher income = bigger deduction benefit from FHSA and RRSP contributions.
    CMHC Insurance
    Required if down payment < 20%. Costs 2.8–4% of your mortgage — up to $40,000+ on a GTA home. Reaching 20% eliminates this entirely.
    Qualifying Withdrawal
    A tax-free FHSA withdrawal to buy your first home. Requires a written agreement to purchase or build.
    Dan Mehta, MBA · REALTOR® · eXp Realty Brokerage
    Serving Mississauga & the Greater Toronto Area
    This tool is for educational purposes only and does not constitute financial or tax advice. Consult a qualified financial adviser or tax professional before making investment decisions. Tax rates shown are approximate and based on 2026 combined federal/provincial rates. FHSA and HBP rules are subject to change by the Canada Revenue Agency.