First-time buyers
Your first home.
Several programs help you buy a first home. Here are the main ones in 2026, with the official links to check your eligibility.
The programs
Three helping hands.
Home ownership tax credit
Quebec: refunds part or all of the welcome tax on a first home acquired in 2026. Advance payment available until December 1, 2026.
HBP
Withdraw up to $60,000 from your RRSPs to buy your first home, then repay it over a maximum of 15 years.
FHSA
Contribute up to $8,000 a year ($40,000 in total), deduct your contributions, then withdraw tax-free for your first home, with nothing to repay.
Financing
The down payment.
- 1Up to $500,000: 5% of the price
- 2$500,000 to $1.5 million: 5% of the first $500,000, then 10% of the rest
- 3$1.5 million and more: 20% of the price
- 4Less than 20% down: mortgage loan insurance is required
- 5First-time buyers: amortization up to 30 years on an insured mortgage, since December 15, 2024
Eligibility
Who is a first-time buyer?
For the Quebec credit
Neither you nor your spouse has owned, since January 1, 2022, a home you lived in.
For the HBP and FHSA
In general, you did not live in a home you owned during the current year or the four previous years.
Check before you buy
Amounts and conditions change. Confirm your situation with Revenu Québec, the CRA and your lender.
A first purchase, well supported.
Vanessa connects you with experienced mortgage lenders and guides you at every step of your first purchase.
Sources
Information checked on October 18, 2026 with the sources below.
- Revenu Québec, Home ownership tax credit
- CRA, Home Buyers' Plan (HBP)
- CRA, FHSA withdrawals
- FCAC, Down payment
- Finance Canada, mortgage reforms (2024)
General information: it does not replace legal, tax or financial advice.