What is the Difference Between the First Home Savings Account (FHSA) and Home Buyers’ Plan (HBP)?

Saving for your first home can be overwhelming, especially if you don’t know where to start. In Canada, there are two federal savings plans that can help you achieve your goal of homeownership: the First Home Savings Account (FHSA) and Home Buyers’ Plan (HBP). The best part is that eligible Canadians can use both plans simultaneously.

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What is the Difference Between the First Home Savings Account (FHSA) and Home Buyers’ Plan (HBP)?