What is the FHSA annual limit?
The annual contribution limit is $8,000 with a $40,000 lifetime cap for eligible first-time home savers.
Behavioral lens: Present bias
FHSA Calculator
First Home Savings Account tax deduction and tax-free growth projection. Plus a behavioral lens on present bias so the math matches your mindset.
Educational estimates only. Not personalized advice. Data targets 2026 Canadian rules.
FHSA plan
$
$
$
%
Tax-free home savings
Projected balance$45,337
Tax deduction this year$2,372
Total contributions$40,000
Lifetime room left$0
Behavioral lens: Present bias
Present bias vs your future home
A vacation this year is vivid. A down payment in five years is abstract. FHSA turns present sacrifice into a visible, tax-advantaged path so future-you gets a fair vote.
Give future-you a vote on today’s spending
PsyFi nudges tax-free home savings when spending triggers fire, not when it is too late.
Build a home savings habitFAQ
Is this PsyFi calculator free?
Yes. Every PsyFi free tool runs in your browser with no signup. We built them to pair accurate Canadian math with behavioral science, not to gate basic estimates behind an account.
Does PsyFi store what I type?
No. Inputs stay on your device. Nothing you enter is sent to PsyFi servers.
Is this personalized financial advice?
No. These are educational estimates using published Canadian rules for 2026. They are not tax, legal, mortgage, or immigration advice. Confirm current rates and your situation with qualified professionals before acting.
Estimates for education only. Not financial, tax, mortgage, immigration, or legal advice. Canadian rules and rates change. Verify current figures with qualified professionals before making decisions. PsyFi tools add behavioral context; they do not replace personalized planning.