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FHSA Calculator

↻ Updated 2026

See how your FHSA could grow toward a first-home down payment — using the $8,000 annual and $40,000 lifetime limits, your time horizon and returns. FHSA contributions are tax-deductible and qualifying withdrawals are tax-free.

Educational calculators — always consult a licensed professional before making financial decisions.

Your inputs

Annual contribution

Max $8,000/yr, $40,000 lifetime

Years until home purchase

Expected annual return

Marginal tax rate

Used to estimate your tax deduction benefit

FHSA at purchase

$44,205

tax-free for your first home

You contributed

$40,000

over 5 yr

Tax deduction benefit

$14,000

at 35% marginal rate

FHSA growth to home purchase5% · 5 yr

todayyear 5

Contributions vs tax-free growth

Contributions$40,000

Tax-free growth$4,205

Total benefit

Balance at purchase$44,205

Tax refunds from deductions$14,000

Combined value$58,205

ASSUMPTIONS — Contributions are capped at $8,000 per year and $40,000 over the FHSA's lifetime; the horizon is limited to the 15-year maximum an FHSA can stay open. Like an RRSP, contributions are tax-deductible (the deduction benefit shown is your total contributions times your marginal rate), and like a TFSA, growth and a qualifying first-home withdrawal are tax-free. Returns are assumed constant. You must be a first-time home buyer to withdraw tax-free.

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