Mortgage Blog
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First Time Home Buyer Tip
January 21, 2026 | Posted by: Angela Robinson
A First Home Savings Account (FHSA) is a powerful way to save for your first home, with tax-deductible contributions and tax-free growth. The key is knowing your limits. Contribution room starts when you open your first FHSA, grows by $8,000 per year (to a $40,000 lifetime max), and over-contributing can lead to unnecessary taxes. Planning ahead, and staying within your room, can make a big difference when it’s time to buy.
At Alberta Mortgage Professionals, we help first-time buyers align smart savings with a clear path to homeownership. Get in touch today at 780 701 3888 or [email protected]
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