First-time buyer · Programs
Nobody hands you the complete list at the bank. Here it is, with the real 2026 amounts and the order in which to activate them.
In 2026, a buyer in Quebec can stack up to seven programs: the FHSA ($8,000 a year, $40,000 lifetime, deductible contributions and tax-free withdrawal), the HBP (up to $60,000 withdrawn from the RRSP, repayable over 15 years), Quebec's welcome tax refund for a first-time buyer (up to $5,875, since January 1, 2026), the federal and provincial first-time home buyers' tax credits (about $2,900 together), the 30-year amortization on insured loans for first-time buyers and new builds, the eliminated GST on a new home up to one million for a first-time buyer, and, in Montreal, a partial refund of transfer duties for certain eligible purchases. Most rest on the same definition of a first-time buyer: not having lived in a home you owned during the current year or the four previous years. Since Finances Québec's Information Bulletin 2026-2 (April 2026), this credit is reduced by 2.35 % of the portion of the price above $750,000 and disappears at $1,000,000: $4,700 at $800,000, $2,350 at $900,000.
The most powerful account for a first-time buyer: $8,000 of room per year from the year the account is opened, $40,000 lifetime, deduction from taxable income federally and in Quebec, tax-free growth and a tax-free withdrawal for a first home, never repaid. Carry-forward capped at $8,000, hence the value of opening early. Full guide and calculator: the FHSA (CELIAPP in English).
The Home Buyers' Plan lets you withdraw up to $60,000 from your RRSP tax-free for a first home, repayable over 15 years. It combines with the FHSA on the same purchase: $100,000 per person, $200,000 for a couple, plus growth. The order that costs least: FHSA first, HBP second.
Since January 1, 2026, Quebec refunds first-time buyers part of the transfer duties: 100% of the first $5,000 paid and 25% of the excess, up to $5,875, for a first principal residence under one million. The buyer first pays the tax billed by the municipality, then claims the refund. Conditions and steps: the welcome tax refund.
The federal government grants a non-refundable credit calculated on a $10,000 amount, about $1,500 less tax; Quebec offers its equivalent, around $1,400. Both are claimed in the tax return of the year of purchase.
Since December 15, 2024, first-time buyers and buyers of newly built homes can amortize an insured loan over 30 years instead of 25. The monthly payment drops and qualification under the stress test improves; in exchange, more interest over the term and a 0.20% insurance surcharge. Not a gift, a trade-off. Details in mortgage pre-approval.
For a first-time buyer of a newly built home occupied as a principal residence, the GST is eliminated up to one million dollars of purchase price. On a $600,000 new house, that is a saving of tens of thousands of dollars compared to the old regime.
The City of Montreal offers certain eligible first-time buyers a partial refund of transfer duties, under municipal conditions of price, property type and household. It adds to the provincial refund in eligible cases; check the criteria in force before the offer to purchase.
A single first-time buyer with a full FHSA and $30,000 of RRSP: $40,000 plus growth from the FHSA, $30,000 of HBP, that is $70,000 of tax-free down payment; at purchase, up to $5,875 of welcome tax refunded and about $2,900 of tax credits. On a $500,000 property, the down payment goes from 5% to 14%, which cuts the insurance premium from 4.00% to 2.80% of the loan. See the minimum down payment.
The FHSA, because it combines a deduction going in and a tax-free withdrawal coming out, with no repayment. The HBP follows by amount ($60,000), then the welcome tax refund ($5,875).
Yes, to any qualifying home occupied as a principal residence, new or resale. Only the eliminated GST targets new builds exclusively.
Yes, on the basis of tax residency and first-time buyer status. See buying a home as a newcomer.
Also available in French: version française de ce guide.
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Published September 1, 2026 by the Loaa & Manseur team, the number 1 team at RE/MAX Platine in 2024 and 2025, 6th RE/MAX team in Quebec, 15th in Canada and in the global top 50 according to the official RE/MAX ranking. Tell us about your project.
Équipe no 1 de RE/MAX Platine en 2024 et en 2025, 6e au Québec, 15e au Canada et dans le top 50 mondial au classement officiel RE/MAX. Réponse en moins de 24 heures, sept jours sur sept.