How the FHSA Room Calculator Helped Me Max Out Before Buying My First Home

My situation

I opened my First Home Savings Account in 2024 and contributed $4,000 that year and $5,000 in 2025. I knew the annual limit was $8,000 and the lifetime limit $40,000, but I wasn't sure how much carry-forward I had or the maximum I could put in for 2026 without over-contributing. I used TrackMoola's FHSA Contribution Room Calculator and entered my account open year, total previous contributions, and what I'd already contributed in 2026.

What the calculator showed

The tool showed my new room for the year ($8,000), my carry-forward (capped at $8,000), and my remaining lifetime room. It clearly showed the maximum I could contribute in 2026 and that I had room to contribute more before making my first home purchase. It also showed what would happen if I over-contributed—so I stayed within the limit.

What I did

I maxed out my FHSA contribution for 2026 and used the How-To Guide to confirm the rules (e.g. withdrawals for a qualifying home purchase are tax-free). When I bought my first home later that year, I used the FHSA funds as planned. The calculator didn't give me financial advice—it gave me the numbers so I could plan with confidence.

Try it yourself

Use the FHSA Room Calculator with your account open year and contribution history. If you don't have an FHSA yet, the tool shows how much room you'd get if you open one this year. Eligibility (first-time home buyer, etc.) is your responsibility. This tool is for educational purposes only; we are not liable for any contribution or tax decisions.

Related: TFSA Room Calculator, RRSP Room Calculator, Account Type Comparison.