What first-time homebuyer programs are available in Alberta?
Eligible first-time buyers may benefit from federal programs such as the First Home Savings Account (FHSA), which allows qualifying tax-deductible contributions and tax-free withdrawals for a first home. The Home Buyers' Plan may also allow eligible buyers to withdraw up to $60,000 from their RRSPs, subject to repayment requirements. Other federal tax credits or new-home incentives may apply depending on eligibility. Since programs and qualification rules can change, I recommend reviewing the options with your mortgage professional or financial advisor.

First-Time Buyer Programs at a Glance


  • The FHSA allows up to $40,000 in lifetime contributions for a first home.
  • The Home Buyers' Plan allows RRSP withdrawals of up to $60,000 per person.
  • A federal tax credit provides up to $1,500 to eligible first-time buyers.
  • A GST rebate of up to $50,000 is available on eligible new homes.

First Home Savings Account (FHSA)


You can contribute up to $8,000 per year, to a lifetime maximum of $40,000. Contributions are tax-deductible, and qualifying withdrawals for a first home are tax-free. Unused room of up to $8,000 can carry forward to the next year.


Home Buyers' Plan (HBP)


First-time buyers can withdraw up to $60,000 from their RRSPs, or up to $120,000 for a couple buying together. The money must generally be repaid over 15 years, starting a few years after the withdrawal.


First-Time Home Buyers' Tax Credit


This non-refundable credit is based on $10,000, providing up to $1,500 in federal tax relief.


First-Time Home Buyers' GST Rebate


Eligible first-time buyers of newly built homes may receive a rebate of the GST on homes up to $1 million, worth up to $50,000, with a reduced rebate for homes between $1 million and $1.5 million. This rebate was passed into law in March 2026.


Insured Mortgage Changes


First-time buyers may qualify for a 30-year amortization on insured mortgages, which can lower monthly payments.


Combine Programs Carefully


You can often use the FHSA and HBP together. Rules and eligibility can change, so review your options with your mortgage professional or financial advisor before buying.