Dreaming of owning your first home? A First Home Savings Account (FHSA) could be your key to turning that dream into a reality. Let's dive into what an FHSA is, how it works, and why it's a smart investment for first-time homebuyers.
What is an FHSA?
An FHSA is a registered plan designed to help you save for your first home taxfree. If you're at least 18 years old, have a Social Insurance Number (SIN), and have not owned a home where you lived for the past four calendar years, you may be eligible to open an FHSA.
Reasons to Invest in an FHSA:
How Does an FHSA Work?
Benefits of an FHSA:
Numbers to Know:
In Conclusion
A First Home Savings Account (FHSA) is a powerful tool for first-time homebuyers, offering tax benefits and a structured approach to saving for homeownership. By taking advantage of an FHSA, you can accelerate your journey towards owning your first home and make your dream a reality sooner than you think.
412 Laird Rd Unit 101
Guelph, ON N1G 3X7
204, 10941 120 St, Edmonton,
AB T5H 3R3
223 14 St NW, Calgary, AB T2N 1Z6
Broker of Record:
Gord Ross | gord@indimortgage.ca
Compliance Officer:
Gord Appel | gord.appel@indimortgage.ca