How much can I withdraw under the Home Buyers' Plan?

Up to $60,000 per eligible participant, so a qualifying couple could access $120,000 between them. The withdrawal must be repaid to your RRSP over time.

Can I use both an FHSA and the Home Buyers' Plan?

Yes. The two programs can be combined for the same home purchase, subject to CRA eligibility rules for each.

First-Time Buyer Funds Planner

Pull every source of funds together — savings, FHSA, the RRSP Home Buyers' Plan, gifts — and see whether you have enough to close, or what the gap is.

Home you are aiming for

Province

City

I am buying a newly built home

Where your money is coming from

Cash savings

First Home Savings Account (FHSA)

RRSP for the Home Buyers' Plan

Gifted down payment

Other eligible sources

You have enough, with room to spare

$28,473

$79,000 available against $50,527 needed on closing day.

Minimum down payment: $40,000
Transfer tax after rebates: $5,475
Other closing costs: $5,052
Total cash to close: $50,527

Your funds
Source	Amount
Cash savings	$25,000
FHSA	$24,000
RRSP via Home Buyers' Plan	$30,000
Total available	$79,000

Eligibility for the FHSA and the Home Buyers’ Plan is determined by the CRA based on your circumstances, not by the amounts entered here. Confirm your eligibility before relying on these funds. Clover Mortgage Inc. is a licensed mortgage brokerage. This calculator provides estimates for information only and is not an offer of credit, an approval, or financial advice.

Every mortgage is different. A Clover Mortgage broker can confirm what you actually qualify for across more than 50 lenders — at no cost to you.

All calculators

Funds left over

$28,473

Common questions

How much can I withdraw under the Home Buyers' Plan?: Up to $60,000 per eligible participant, so a qualifying couple could access $120,000 between them. The withdrawal must be repaid to your RRSP over time.
Can I use both an FHSA and the Home Buyers' Plan?: Yes. The two programs can be combined for the same home purchase, subject to CRA eligibility rules for each.