A program can help. Only if it applies to your purchase.

The CRA states that your first year of FHSA participation room is $8,000. The ordinary annual limit is $8,000 and the lifetime limit is $40,000. Contributions are generally deductible; a qualifying withdrawal has its own conditions.

Room, carry-forward, transfers and withdrawal eligibility are individual questions. Confirm your own room with your records and advisor. Opening an account is not the same as having the funds ready for a deposit.

The HBP currently permits up to $60,000 of eligible RRSP withdrawals. It is a withdrawal from your savings, not a government grant. Eligibility, withdrawal conditions and repayments matter.

The CRA’s current guidance extends the additional three-year repayment deferral to first withdrawals made in 2026 through 2028. For a first withdrawal in 2026, repayments begin in 2031. Verify your individual schedule and obligations before relying on that example.

Eligible first-time buyers may receive a refund up to $4,000. Prior ownership anywhere in the world and a spouse’s ownership history can affect eligibility. The refund can be reduced when not all purchasers qualify.

Ask your lawyer to confirm whether you qualify and how much belongs in your closing calculation. Do not automatically subtract the maximum because this is your first purchase in Ontario.

Newly built or substantially renovated homes can involve separate federal and provincial measures, each with eligibility and timing rules. The total is not found by adding every maximum mentioned in an advertisement.

The component calculator illustrates the federal first-time buyer GST component or Ontario’s enhanced provincial component. It does not establish eligibility or calculate Ontario’s separate top-up. Have your lawyer and tax advisor review the actual agreement, value, dates and treatment of rebates.