First-Time Buyer Programs in Alberta (2026 Guide)

Buying your first home in Alberta comes with more help than most people realize. Here is what actually exists in 2026, in plain language. Program rules change, so before you rely on any number, ask us for the current limits.

The First Home Savings Account (FHSA)

This is the one to set up first. You can put up to $8,000 a year into an FHSA, up to $40,000 over your lifetime, and the contributions come off your taxable income — like an RRSP. When you buy your first home, you withdraw the money tax-free, like a TFSA. If you do not buy a home within 15 years, the money rolls into an RRSP.

You qualify if you are a Canadian resident aged 18 or older and you have not owned a home you lived in for the past four years.

The RRSP Home Buyers' Plan (HBP)

You can withdraw up to $60,000 from your RRSP to buy or build a qualifying home, tax-free, as long as you repay it over 15 years. Spouses can each use their own $60,000, which can add up to $120,000 for a couple. You generally cannot use both the FHSA and the HBP for the same purchase in ways that double-dip, but the two work well in sequence — save in the FHSA, and keep the HBP in reserve.

GST relief on new homes

The federal government announced GST relief on new homes under $1 million that took effect in 2025. If you are buying a new build, this can be a meaningful saving on the sticker price — confirm with the builder that the relief is reflected in your purchase agreement.

CMHC mortgage insurance

If your down payment is under 20%, you will pay for mortgage loan insurance, usually through CMHC. It adds to your monthly cost but it is what lets you buy with less down. First-time buyers can also take advantage of the extended 30-year amortization on insured mortgages announced for new builds — it lowers the monthly payment noticeably, though you pay more interest overall.

What is not available

Alberta does not currently offer a province-wide first-time buyer grant, and there is no provincial land transfer tax to rebate (Alberta has none at all — unlike most provinces). Be cautious of any program promising thousands in "first-time buyer grants" — in most cases those are federal programs above, or marketing.

The order we recommend

1. Open an FHSA now, even if you are a year or two away from buying.
2. Get a mortgage pre-approval so you know your real budget before you shop.
3. If you are looking at a new build, ask about the GST relief and the extended amortization.
4. Keep the HBP untouched until you need it.

Every buyer's situation is different. If you want us to run through which programs fit your case, call Joshua at 403-305-9167 — the first conversation is free and there is no obligation.