How to take advantage of the first home savings account
In April, in response to Canada’s white-hot housing market, the federal government introduced the tax-free first home savings account (FHSA). The FHSA is a new kind of registered account aimed at easing the path of first-time home buyers to securing a mortgage at a time when average Canadian home prices sit at around $800,000. So, how exactly does this account work? More importantly, how can first-time home buyers leverage the FHSA to its fullest extent?
Original Article Source Credits: Money Sense , https://www.moneysense.ca/
Article Written By: BRENNAN DOHERTY
Original Article Posted on: MAY 9, 2022