FHSA and HBP together: how to use both for the same home in Canada
First-time buyers often hear "FHSA or HBP?" as if they had to pick one. The rules let you stack them, and a couple buying together can stack four accounts. The catch is that the two plans have different conditions, different deadlines and very different consequences afterwards. Here is how they fit together, with a calculator for your own balances.
On this page
FHSA plus HBP calculator
How much can come out of registered accounts?
| FHSA | HBP | Total |
|---|
HBP is capped at $60,000 per person. The yearly minimum is the HBP amount divided by 15. Repayment starts in the fifth year after the year of the first HBP withdrawal for first withdrawals from 2022 to 2028, and the second year otherwise, under current CRA rules. The FHSA close-by date assumes your first qualifying FHSA withdrawal is in the same year. The 90-day date is a cushion around the CRA note that RRSP contributions made in the 89 days before an HBP withdrawal may not be deductible. Balances are your inputs and ignore growth and fees.
Yes, both for one home
The CRA states it on both its HBP and FHSA pages: you can withdraw from your RRSP under the Home Buyers' Plan and make a qualifying withdrawal from your FHSA for the same qualifying home, as long as you meet all the conditions at the time of each withdrawal.
For couples, each person uses their own accounts. The CRA's example: Kara and Stephen, common-law partners buying jointly, each made a qualifying withdrawal from their own FHSA for the same house, $40,500 and $41,000. Each partner can also use the HBP from their own RRSPs. Nobody can withdraw from the other person's account.
New to either plan? Our FHSA explainer covers opening and contributing, and the HBP repayment guide covers the 15-year schedule in detail.
FHSA vs HBP side by side
| FHSA qualifying withdrawal | HBP (from your RRSP) | |
|---|---|---|
| How much | Everything in the account, including growth | Up to $60,000 per person |
| Contribution room | $8,000 a year, $40,000 lifetime | Your RRSP deduction limit |
| Pay it back? | No | Yes, over 15 years, or the shortfall is added to income |
| Tax on withdrawal | None if it qualifies | No tax withheld up to $60,000; taxed only if not repaid |
| Form | RC725, given to your FHSA issuer | T1036, for each withdrawal |
| First-time buyer test | You did not live in a home you owned | You did not live in a home you or your current spouse owned |
| Can you undo it? | No, a qualifying withdrawal cannot be cancelled | Participation can be cancelled in some situations |
| After the purchase | Close all FHSAs by December 31 of the year after the first qualifying withdrawal | Repay yearly; you can join again once your HBP balance is zero on January 1 |
The conditions that trip people up
- A written agreement first. Both plans need a written agreement to buy or build a qualifying home at the time of withdrawal. The CRA says a mortgage pre-approval does not count.
- The October 1 deadline. For both, the home has to be acquired or built before October 1 of the year after the withdrawal year (for the HBP, the year after the first withdrawal).
- The 30-day window. For the FHSA, you must not have acquired the home more than 30 days before the withdrawal. Pull the money before or shortly after closing, not months later.
- The spouse difference. The four-year first-time buyer test is not the same. For the HBP, a home your current spouse or common-law partner owned and you lived in counts against you. For an FHSA withdrawal, it does not: the CRA's example of Joshua, who lived in his wife's condo, still qualified. That gap can decide which plans a couple can use.
- The 89-day RRSP rule. If you contribute to your RRSP in the 89 days before an HBP withdrawal, that contribution may not be deductible. Top up early.
- HBP withdrawals have a window. You can make several, but only in the calendar year of the first one and January of the next.
- Occupy within a year. Both plans need you to live in the home as your principal residence within one year of buying or building it, and to stay a Canadian resident until you buy.
- Excess FHSA amounts. A qualifying withdrawal does not fix an over-contribution. The CRA warns the 1% monthly tax can continue, so sort out any excess before you withdraw.
Worked example: Leah and Omar
Leah and Omar are buying their first home together and closing in spring 2027. Each opened an FHSA in 2025 and put in $8,000 a year for 2025, 2026 and 2027. Each also has $60,000 in an RRSP. Ignoring growth:
- FHSA each: 3 × $8,000 = $24,000, so $48,000 together, never repaid
- HBP each: $60,000, the maximum, so $120,000 together
- From registered accounts: $48,000 + $120,000 = $168,000
They plan the first HBP withdrawal on April 15, 2027:
- Last RRSP top-up date with a 90-day cushion: January 15, 2027
- HBP repayment starts in the fifth year after 2027: 2032
- Yearly minimum each: $60,000 ÷ 15 = $4,000, so $8,000 a year for the household, back into their RRSPs
- Both FHSAs must be closed by December 31, 2028
Buying alone with the same balances, Leah would have $24,000 + $60,000 = $84,000. Whether that covers the minimum down payment depends on the price; our down payment guide has the math, and the stress test guide shows how the $8,000 a year of HBP repayments sits next to a mortgage payment in your budget.
Order and timing
There is no required order. A few practical points people weigh:
- FHSA money is the cleaner money. It is tax-free and never repaid, so it does not create a future obligation the way the HBP does.
- The HBP is a loan from yourself. Missing a yearly minimum adds the shortfall to your taxable income for that year, and that part can no longer be repaid.
- One closing, two forms. RC725 goes to the FHSA issuer and T1036 to the RRSP issuer. Give each institution time; plan withdrawals around your closing date and the 30-day FHSA window.
- Unused FHSA money can later move to an RRSP or RRIF by direct transfer without tax, if you do not buy. See the RRSP vs TFSA guide for how the accounts compare.
Options people compare
| Approach | What it gives you | Watch for |
|---|---|---|
| FHSA only | Tax-free, nothing to repay | $8,000 a year builds slowly |
| HBP only | Up to $60,000 from existing RRSP savings | 15 years of repayments |
| FHSA plus HBP | The largest registered total for one home | Two sets of conditions and deadlines |
| Plus TFSA or savings | No conditions on use | Closing costs also need cash |
These are options to understand, not recommendations. More home buying math is on the tools page.
How to use the FHSA and HBP for the same home
- Confirm each buyer meets the first-time buyer test for each plan, remembering the HBP test also counts a home your current spouse owned.
- Make any RRSP top-up more than 89 days before the planned HBP withdrawal.
- Sign a written agreement to buy or build a qualifying home; a mortgage pre-approval does not count.
- Give Form RC725 to your FHSA issuer and Form T1036 to your RRSP issuer for each withdrawal.
- Close on the home before October 1 of the following year and move in within one year.
- Close all FHSAs by December 31 of the year after your first qualifying withdrawal.
- Start HBP repayments in your repayment year and repay at least the yearly minimum.
Questions people ask
Can I use the FHSA and the Home Buyers' Plan for the same home?
Yes. The CRA says you can make an HBP withdrawal from your RRSP and a qualifying FHSA withdrawal for the same qualifying home, as long as you meet all of the conditions of each plan at the time of each withdrawal.
How much can I take out with the FHSA and HBP together?
Everything in your FHSA if the withdrawal qualifies, plus up to $60,000 from your RRSPs under the HBP. A couple can each do both from their own accounts.
Do I have to repay FHSA withdrawals?
No. Qualifying FHSA withdrawals are tax-free and do not have to be repaid. HBP withdrawals must be repaid to your RRSP over 15 years.
When do I start repaying the HBP?
For a first HBP withdrawal between January 1, 2026 and December 31, 2028, repayment starts in the fifth year after the withdrawal year. A first withdrawal in 2026 means repayments start in 2031. Relief also applies to first withdrawals from 2022 to 2025.
Is a mortgage pre-approval enough to withdraw?
No. Both plans need a written agreement to buy or build a qualifying home. The CRA says a pre-approved mortgage does not satisfy this condition.
Can my spouse and I both use the FHSA and HBP?
Yes, each from your own accounts, if each of you meets the conditions. The first-time buyer tests differ: the HBP counts a home your current spouse owned and you lived in, while the FHSA withdrawal test only counts homes you owned.
What happens to my FHSA after I buy?
You should close all your FHSAs by December 31 of the year after your first qualifying withdrawal, because your maximum participation period ends then.
Looni's calculators add up FHSA, HBP and savings with your own balances and show the repayment years, so the plan is clear before you sign. Read-only, no advice.
Sources
Canada Revenue Agency, The Home Buyers' Plan ($60,000 limit, using HBP and FHSA for the same home, repayment relief for first withdrawals from 2026 to 2028), How to participate in the Home Buyers' Plan (first-time buyer test including a current spouse, written agreement, pre-approval not enough, October 1 deadline, withdrawal window, 89-day rule, Form T1036) and Withdrawals and transfers out of your FHSAs (qualifying withdrawal conditions, 30-day rule, Form RC725, the Kara and Stephen and Joshua examples, no cancellation, closing deadline, $8,000 and $40,000 limits). Example balances are illustrative and ignore investment growth.
Want the full list beyond the FHSA and HBP? See all first-time home buyer programs in Canada for 2026.