First-Time Home Buyer Programs for the Calgary Area and Southern Alberta (2026)

The federal government introduced significant affordability changes over 2024 and 2025, and the most recent update: Bill C-4, the Making Life More Affordable for Canadians Act, received Royal Assent on March 12, 2026. That legislation introduced a major new GST rebate for first-time buyers of newly built homes, worth up to $50,000. Combined with earlier changes to the RRSP withdrawal limit, the 30-year mortgage option, and the raised insured mortgage cap, there has never been more federal support available to first-time buyers in Alberta. Here is a current overview of every active program.

Important note: The First-Time Home Buyer Incentive (FTHBI) was cancelled by CMHC effective March 31, 2024. It is no longer available. The programs below are all currently active.

• First Home Savings Account (FHSA): Since April 1, 2023

  The FHSA is currently the most powerful savings tool available to first-time buyers in Canada. You can contribute up to $8,000 per year and up to a $40,000 lifetime limit toward your first home. Contributions are tax-deductible like an RRSP, and qualifying withdrawals for a first home purchase are completely tax-free like a TFSA. Unused annual contribution room of up to $8,000 carries forward to the following year. The account can remain open for 15 years or until you turn 71.

  For couples, each partner can hold a separate FHSA, meaning a combined tax-free savings potential of up to $80,000 before investment growth. Most major Canadian financial institutions and online brokerages offer the FHSA. CRA: First Home Savings Account

• Home Buyers' Plan (HBP): Updated April 2024

  The Home Buyers' Plan allows first-time buyers to withdraw from their RRSP tax-free to use toward a home purchase. The withdrawal limit was increased from $35,000 to $60,000 per person effective April 16, 2024. For couples where both partners qualify, the combined withdrawal is up to $120,000. The withdrawn amount must be repaid to your RRSP over 15 years. If you miss a repayment in any given year, that portion is added to your taxable income.

  Note that RRSP funds must have been in your account for at least 90 days before they are eligible for HBP withdrawal. The HBP and FHSA can be combined: a couple could access up to $80,000 from their FHSAs tax-free, plus up to $120,000 from their RRSPs under the HBP, for a combined potential down payment contribution of $200,000 before investment growth. CRA: Home Buyers' Plan

• 30-Year Mortgage Amortization for First-Time Buyers: Effective December 15, 2024

  As of December 15, 2024, all first-time home buyers in Canada can access a 30-year amortization on insured mortgages, regardless of whether the property is new construction or resale. Previously, insured mortgages (those with less than 20% down) were capped at 25 years. This change applies to any first-time buyer purchasing a home priced under the new $1.5 million insured mortgage cap.

  Extending the amortization from 25 to 30 years reduces monthly payments, which can make a meaningful difference for buyers in markets like Calgary and Okotoks where home prices are well above the national average. The trade-off is paying more total interest over the life of the mortgage. Buyers should discuss this trade-off with their mortgage broker before committing. Government of Canada: Mortgage Reform Announcement

• Insured Mortgage Price Cap Raised to $1.5 Million: Effective December 15, 2024

  The maximum home price eligible for mortgage default insurance was raised from $1 million to $1.5 million effective December 15, 2024. This means buyers purchasing homes up to $1.5 million can now qualify for an insured mortgage with a down payment of less than 20%, where the minimum down payment is 5% on the first $500,000 and 10% on the portion between $500,000 and $1.5 million.

  This change is particularly relevant in Calgary's more expensive communities and in acreage markets in Foothills County and Rocky View County, where property values frequently exceed the old $1 million cap. Government of Canada: Mortgage Reform Announcement

• GST Rebates on New Homes: Two Programs Now Available

  Program A: New First-Time Home Buyers' GST Rebate (Bill C-4): Now in Effect
  Bill C-4 received Royal Assent on March 12, 2026. First-time buyers purchasing newly built or substantially renovated homes in Canada can now recover the full 5% federal GST on homes priced up to $1 million, for a maximum rebate of $50,000. For homes priced between $1 million and $1.5 million, a partial rebate applies on a sliding scale. The rebate applies to agreements of purchase and sale entered into on or after March 20, 2025. Alberta has no provincial HST, so only the federal GST applies. The full benefit is available to Alberta buyers. This rebate applies to newly built homes only, not resale. CRA: First-Time Home Buyers' GST Rebate

  Program B: Standard GST New Housing Rebate: Ongoing (All Buyers)
  The existing GST New Housing Rebate continues to apply to all buyers of newly built primary residences, not only first-time buyers. The maximum federal rebate is $6,300 for homes priced up to $350,000, with a partial rebate for homes priced between $350,000 and $450,000. No standard rebate applies above $450,000, but first-time buyers can claim the new Program A rebate above that threshold. CRA: GST/HST New Housing Rebate

• CMHC Eco Plus (formerly Green Home Program): Ongoing

  The CMHC Green Home Program was renamed CMHC Eco Plus effective July 8, 2025. As of that date, the program applies exclusively to newly built homes with an eligible energy efficiency certificate or EnerGuide rating. If you purchase a newly built energy-efficient home and finance it through a CMHC-insured mortgage, you may qualify for a refund of up to 25% of your CMHC mortgage insurance premium. The refund level depends on the energy efficiency certification: homes meeting ENERGY STAR standards receive a 15% refund, while homes built to R-2000, LEED, or Passive House standards may qualify for the full 25%. You must apply within 24 months of your mortgage closing date. Note that processing times are currently running at a minimum of 24 weeks due to high application volumes.

  CMHC: Eco Plus Program

• First-Time Home Buyers' Tax Credit (HBTC): Ongoing

  First-time buyers can claim a $10,000 non-refundable tax credit on their federal income tax return in the year of purchase. The credit is calculated at the lowest federal marginal tax rate. Bill C-4 reduced that rate to 14% for the 2026 tax year (down from 15%), so the credit is currently worth up to $1,400 off your federal tax owing. You qualify if neither you nor your spouse or common-law partner has owned a home you lived in during the current year or any of the four preceding calendar years. This credit was doubled from $5,000 to $10,000 in 2022 and remains in effect.

  CRA: Home Buyers' Amount

Disclaimer: The program information on this page is provided for general reference only and reflects federal government programs available as of March 2026. Eligibility rules, contribution limits, and program details are subject to change. This is not financial, tax, or legal advice. Consult a qualified mortgage professional, financial advisor, or tax accountant before making decisions based on any of the programs described above. For the most current information, refer directly to the Canada Revenue Agency and CMHC.