Yes. You can make a qualifying FHSA withdrawal and a Home Buyers’ Plan withdrawal from your RRSP for the same home if you separately meet the eligibility conditions for both.

Information checked November 11, 2026.

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FHSA: check contribution room and withdrawal eligibility

In the year you open your first FHSA, the usual room is $8,000, with a $40,000 lifetime limit. Contributions are generally deductible, and qualifying withdrawals are tax-free and do not need repayment. Check the CRA definitions for opening the account and withdrawing; they are different.

RRSP Home Buyers’ Plan: budget repayments

The HBP allows an eligible individual to withdraw up to $60,000. The balance is generally repaid over 15 years. If you miss the required annual repayment, the shortfall is generally included in income for that year. Check CRA’s repayment start date for your first withdrawal and the RRSP rules for recent contributions.

For example, if you qualify for $20,000 from your FHSA and $35,000 under the HBP, that is $55,000 of available withdrawals after processing, with HBP repayment still owed on the $35,000.

Work backward from the cash deadline

Before an offer, confirm how long each institution needs to process the withdrawal, what evidence it needs and when you can receive the money. A signed agreement, occupancy intent and timing requirements matter. Have enough accessible cash to cover the offer deposit while the forms are processed.

Coordinate two withdrawals without missing your deposit date

A buyer has $24,000 in an FHSA, $30,000 available under the HBP if eligible, and $28,000 in ordinary savings. The agreement calls for a $20,000 deposit shortly after acceptance. The buyer plans to use ordinary savings for the deposit and leaves the registered withdrawals for the later balance, subject to confirming the forms and release dates. This gives both institutions time to process the requests.

Use a separate row for the future HBP repayment. If closing costs use most of the remaining cash, revise the savings and withdrawal plan before making the offer rather than relying on an advance that has not arrived.

A practical decision checklist

Check the two eligibility definitions

Look up the FHSA qualifying withdrawal rules and the HBP rules separately. Make a timeline of who owned and lived in which home, including a spouse or partner where relevant. Put the source and the date next to the result. This makes it possible to tell whether a later change came from new evidence or from a change in your own assumptions.

A rule about opening one account may differ from the test for using the money. Confirm both with the issuer and CRA guidance before counting the amounts in your budget. Write down the decision you can make now and the one that still needs an answer.

Check available contribution room

Use your records and CRA information to check available FHSA room and recent contributions. Confirm what is settled and what is still invested or awaiting transfer. Check the outcome under a modest change before you decide how much room to leave.

A new contribution or transfer can have different tax and processing implications. Ask the institution for the steps and deadline rather than assuming all balances can be withdrawn on demand. Identify which part of your plan depends on this information. It is easier to decide what to verify first when you know whether it affects the price, the timetable, or your ability to proceed.

Plan for the HBP after closing

Record the intended RRSP withdrawal and the amount you expect to designate as repayment later. Check the CRA repayment start year and schedule for your first withdrawal. Keep the item on a shared list if more than one person is involved. Record who is responsible for getting the answer and what evidence will count as complete.

A skipped required repayment can affect taxable income. Set a repayment line in the post-closing budget and keep the CRA documents with the closing file. When the answer changes, update any cost or deadline that depended on it.

Schedule the two forms and releases

Ask each institution what form and signed purchase evidence it needs. Mark the deposit deadline and the lawyer’s date for receiving funds on a calendar. If the numbers do not line up, confirm the reason before relying on the cheaper or easier option.

Investments may need to be sold and transactions settled before the withdrawal can be released. Use accessible funds for the earliest payment and confirm the registered withdrawal dates in writing. If you are comparing two options, use the same dates, scope and units for both. Where they differ, show that difference on its own line so you can see how much it matters.

Retain the right evidence

Keep the signed purchase agreement, proof of withdrawals and related confirmation from each institution. Ask which residency, occupancy and ownership records are relevant to the qualifying withdrawal. A short note is enough if it records what you checked, who can confirm it and when you need the answer. Carry that note into your next conversation rather than relying on memory.

A later move-date or intended-use change can affect earlier assumptions. Tell your adviser about a material change before submitting further forms or assuming a tax result. Use the result to choose one practical next step and a fallback if the answer is delayed.

Set aside other closing costs

List the remaining down payment, taxes, adjustments and reserve after the deposit. Compare the total with the cash and confirmed withdrawals available by the lawyer’s deadline. Take the unresolved difference to the person who can verify the terms.

Combining the programs can improve available funds without covering every cost. Run a scenario where one withdrawal takes longer. Review the closing-cost guide before setting your upper price. Test the conclusion against a second piece of evidence when one is available. A single estimate can be useful, but a different date, service or starting figure can explain an apparent discrepancy.

Follow-up questions

Can my partner also withdraw?

Check each person separately. The account holder’s eligibility, available amount, previous ownership and purchase information can differ. Have both institutions confirm the documents and timelines, and check how each person’s available amount fits the actual title and financing plan.

Do I repay the FHSA like the HBP?

A qualifying FHSA withdrawal generally does not require repayment. The HBP has its own CRA repayment schedule and reporting. Keep the two amounts separate from the start, then use the official guidance for your withdrawal year and your tax circumstances.

The important dates are when the deposit is due, when each institution can actually release funds, and when the lawyer needs the balance. Give all three the same timeline.