Which programs can I use?
| Program | Benefit | Who qualifies |
|---|---|---|
| FHSA | $8,000/yr, $40,000 lifetime, tax-deductible | First-time buyers 18+ |
| RRSP Home Buyers' Plan | Withdraw up to $60,000 | First-time buyers |
| First-time buyer GST rebate | Up to $50,000 on new homes up to $1M (partial to $1.5M) | First-time buyers of new homes |
| British Columbia relief | First-time home buyers' property transfer tax exemption (full to $835,000, partial to $860,000) | See provincial rules |
Federal programs checked October 7, 2026; confirm provincial eligibility with the province.
Land transfer tax relief
B.C. charges property transfer tax: 1% on the first $200,000, 2% to $2 million, 3% above $2 million, plus a further 2% on residential value over $3 million. First-time buyers pay no tax on the first $500,000 when the home is worth $835,000 or less (partial exemption up to $860,000). Land transfer tax in British Columbia
Get first-time buyer bids
Insured mortgages for first-time buyers can use a 30-year amortization. Post your purchase to get bids.
MBWritten by the MortgageBids.ca editorial team. Last updated October 7, 2026. General information only; your lender confirms terms for your file.
Sources
- CRA: First Home Savings Account (checked October 7, 2026)
- CRA: Home Buyers' Plan (checked October 7, 2026)
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