Results are estimates. Returns aren't guaranteed, and refunds depend on your actual income and province. Contributions are assumed to be made at the start of each year.
How the calculator works
Each year, the calculator gives you $8,000 of new room plus any unused room from the previous year, capped at $8,000 of carry-forward. It then contributes the smaller of your planned amount, your available room, and what's left of your $40,000 lifetime limit. Each contribution is grown at your chosen return until the year you buy.
Refunds are your contributions multiplied by your marginal tax rate. In reality you can delay claiming the deduction to a higher-income year, which could make your refunds larger than shown.
Reading your results
- Projected balance is what you could withdraw tax-free if you meet the qualifying withdrawal conditions.
- Tax refunds aren't in the FHSA. Saving them in a TFSA adds meaningfully to your down payment.
- Lifetime room left above $0 means you could contribute more before buying, if your timeline allows.
Frequently asked questions
How much can I put in my FHSA this year?
$8,000 plus any carry-forward from last year, up to $8,000, so a maximum of $16,000. See our contribution limit guide for examples.
What return should I assume?
If you're buying within a couple of years, assume savings or GIC rates. For longer timelines, a balanced or growth portfolio may average more over time, but it can also lose value in the short term.