First-time buyer programs
Programs change often. These were checked in October 2026; confirm details with your lender or accountant.
What is a First Home Savings Account (FHSA)?
An FHSA lets first-time buyers save up to $8,000 a year, to a lifetime maximum of $40,000, with tax-deductible contributions and tax-free withdrawals for a qualifying home.
Source: canada.ca
How much can I take from my RRSP for a down payment?
Under the Home Buyers' Plan you can withdraw up to $60,000 from your RRSP. For a first withdrawal made between 2026 and 2028, repayments start in the fifth year.
Source: canada.ca
Is there a GST rebate for first-time buyers of new homes?
Yes. The federal First-Time Home Buyers' GST/HST rebate is available on newly built homes: up to $50,000, in full on homes up to $1 million, phasing out to zero at $1.5 million.
Source: canada.ca
Does Nova Scotia have a first-time buyer program?
Nova Scotia launched a First-time Homebuyers Program in February 2026 that lowers the minimum down payment to 2% for eligible buyers, with a household income limit of $200,000, a credit score of 630 or higher and a $570,000 price cap in HRM. The Province also offers a rebate of up to $3,000 on newly built homes.
Source: news.novascotia.ca, novascotia.ca
Written by Chris Crowell, REALTOR® with REMAX NOVA. Facts checked against official sources in October 2026.
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