Cheryl Jessamine
Mortgage Professional
Office:
Phone:
Email:
Address:
504 1 Street W, Cochrane, Alberta, T4C 1B3
BROWSE
PARTNERSFirst Time Home Buyer Advantages for the Calgary and area market.
1/5/2026
| Advantage Area | Description |
|---|---|
| Market Conditions | Balanced, with more inventory and negotiation power |
| Affordability | Prices remain low relative to major markets; condos & townhomes accessible |
| Mortgage Rates | Stable or slightly declining, favorable for fixed-rate decisions |
| Incentives | Multiple federal & provincial programs help reduce upfront costs |
| Economic & Infrastructure | Calgary’s diversified job base and transit expansion support growth |
2026 offers a rare combination of stable pricing, government incentives, and borrower-friendly lending conditions in Calgary. For a first-time buyer, this environment—especially when paired with tools like the FHSA, HBP, AHC, and tax credits—makes entering the market more attainable than in many other Canadian cities.
Federal Incentives for First-Time Home Buyers
First Home Savings Account (FHSA)
- Tax-deductible contributions of up to $8,000 per year, with a $40,000 lifetime maximum.
- Tax-free withdrawals can be used toward the purchase of a qualifying home.
- Unused contribution room carries forward, making it flexible for aspiring buyers.
Home Buyers’ Plan (HBP)
- Allows withdrawal of up to $60,000 (increased from $35,000) from RRSPs for a down payment.
- Funds must be repaid over a 15-year period, interest-free.
- You can combine an HBP withdrawal and an FHSA withdrawal when buying the same home, maximizing your funds.
First-Time Home Buyers’ Tax Credit
- $10,000 non-refundable tax credit, translating into up to $1,500 in federal tax relief.
- Available to those who haven’t owned a home in the past four years.
New GST/HST Rebate for First-Time Buyers
- Up to 100% rebate on GST (federal portion of HST) for new homes up to $1 million, capped at $50,000.
- Phased rebate applies for homes between $1M and $1.5M
