CostFirst-time buyers can typically stack the FHSA, the RRSP Home Buyers' Plan, provincial land transfer tax rebates (and Toronto's municipal one, if applicable), and the GST/HST rebate on new construction — each targets a different cost, so using more than one doesn't reduce the others.
Savings and withdrawal programs
The FHSA and RRSP Home Buyers' Plan can both fund a down payment for the same purchase — up to $40,000 lifetime from an FHSA and $60,000 from an RRSP under the HBP, per person, for a couple potentially $200,000 combined. These are savings-side programs: they help you accumulate and access the down payment itself.
Tax and closing cost rebates
Separately, several rebates reduce your actual closing costs rather than fund your down payment: Ontario's provincial land transfer tax rebate (up to $4,000), Toronto's additional municipal rebate (up to $4,475) if you're buying in the city, BC's Property Transfer Tax exemption, PEI's land transfer exemption, and — for new construction specifically — the GST/HST rebate for first-time buyers covered in our market update on the new rebate.
How they actually stack together
First-time buyer couple, $700,000 Toronto home
| FHSA + RRSP HBP funding down payment | Up to $200,000 (combined limits) |
| Ontario provincial LTT rebate | Up to $4,000 |
| Toronto municipal LTT rebate | Up to $4,475 |
| Total rebate value against closing costs | Up to $8,475 |
Because these target different costs — the down payment versus the land transfer tax specifically — using one doesn't reduce your eligibility for another. Eligibility rules do overlap in their core definition of "first-time buyer," generally requiring no home ownership anywhere in the world in recent years, so confirm you qualify under each program's specific wording rather than assuming one approval covers all of them.
Model your full picture, savings programs and rebates together, starting with the FHSA calculator and closing cost calculator.