FHSA loan
Maximize your FHSA contributions so you can buy your first home. You could even save on taxes while earning additional investment income.
Not a member? Schedule a call to book an appointment.
FHSA loan overview
An FHSA loan lets you borrow funds so you can maximize your contributions to your FHSA. Like with an RRSP, FHSA contributions reduce your taxable income. You can then choose to use your tax refund to pay down your loan.
Benefits of an FHSA
Interest rate
Lower than on a personal loan
Terms and repayment option
From 1 to 10 years, choose your payment frequency and method
Tax refund
Lower your taxable income with RRSP contributions for a possible refund
Features
Amount available
- Borrow up to $8,000 the first year
- Contribute up to $16,000 per year after the second year
Interest rate
Fixed rate
Term
Up to 10 years, depending on amount requested
Repayment
- Payments can be made every week, every 2 weeks or every month.
- Repay in part or in full, at any time, without penalty.
- Use your tax refund to pay down your loan.
Annual interest rates
Rates on ${currentDate}
Fixed rate
| Term | Interest rate |
|---|---|
| 1 year | 5.80% |
| 2 years | 5.90% |
| 3 years | 6.00% |
| 4 years | 6.10% |
| 5 years | 6.20% |
| 6 years | 6.40% |
| 7 years | 6.60% |
| 8 years | 6.80% |
| 9 years | 7.00% |
| 10 years | 7.20% |
Book an appointment to apply for an FHSA loan
By phone
Montreal area:
514-224-7737 This link opens your phone app. (514-CAISSES)
Elsewhere in Canada and the US:
1-800-224-7737 This link opens your phone app. (1-800-CAISSES)
We can also call you when it’s convenient.
Other tax-sheltered savings options
FHSA
Learn more about this new registered plan that allows you to save tax-free for your first home.
RRSP loan
Optimize your tax strategy with an RRSP loan so you can maximize your tax refund.