Compare two scenarios to see how much you can save towards the purchase of your first home by investing with a First
Home Savings Account (FHSA).
In what year did you or will you open an FHSA? 
2024

FHSA Open Year
An FHSA can only remain open for a maximum of 15 years or until the end of the year in which you turn 71, whichever event happens first.
Input Error: FHSA Open Year
You must enter 2023 or greater since the FHSA was introduced in 2023. 

How much have you contributed to an FHSA so far? 
0

Contribution so far
Enter the amount you've contributed so far, not the current value. You can contribute up to a maximum of $8,000 per year up to a lifetime limit of $40,000. 

Calculate results for how many years? 
15

Input Error: Calculate for how many years
The maximum value you can enter is . 

Scenario 1  Scenario 2  
Current value of FHSA 
0

0

Current value of FHSA
Enter the current value of your FHSA, not the amount you've contributed. 
How often will you contribute? 



Contribution amount 
8,000.00

4,000.00

Contribution amount
You can contribute up to a maximum of $8,000 per year up to a lifetime limit of $40,000.
Input Error: Contribution Amount
The maximum value you can enter for Scenario 1 is $.
Input Error: Contribution Amount
The maximum value you can enter for Scenario 2 is $. 
Rate of return 
6.00%

6.00%
Enter a value between and % 

Future value  $86,350  $24,675 
Future Value of FHSA
Scenario 1
Scenario 2
Difference
Assumptions
Contributions are not indexed and all contributions are made at the start of the period. The calculator does not account for the age of the FHSA holder, who must close or transfer the FHSA to an RRSP or RRIF by December 31 of the year they turn 71. The rate of return in Scenario 1 is compounded . The rate of return in Scenario 2 is compounding .
Disclaimer
Contributions are not indexed and all contributions are made at the start of the period. The calculator does not account for the age of the FHSA holder, who must close or transfer the FHSA to an RRSP or RRIF by December 31 of the year they turn 71. The rate of return in Scenario 1 is compounded . The rate of return in Scenario 2 is compounding .
Disclaimer