Understanding the First Home Savings Account (FHSA) for New Canadians
Published: August 21, 2025
Thinking about buying your first home in Canada? As a newcomer, saving for a down payment may take time. To support this goal, Canada’s federal government has a registered savings plan known as the First Home Savings Account (FHSA).
If you're eligible, this special savings account may help make it easier to set money aside for your future home.
Learn more about TD New to Canada Banking Package
Read on to find helpful information to better understand the FHSA, what it is, how it works, and how it may fit into your home ownership goals as a newcomer.
Here's what we’ll cover:Eligibility – Who can open an FHSA and whenFHSA basics – What it is and how it worksWhy consider TD – A few reasons newcomers may choose TD for their FHSAFHSA vs. other plans –...