Alberta Home Buyer Grants
Alberta First-Time Home Buyer Grants & Down Payment Assistance 2024
Alberta first-time buyers can access federal savings programs, tax credits, and rebates that together can contribute tens of thousands toward your first home purchase — with no provincial income or sales tax to complicate things.
✓ 6 Active Programs
✓ Federal + Municipal
✓ Updated June 2024
Alberta Home Buyer Programs (2024)
Alberta has no provincial income tax rebates or HST like Ontario, but the federal programs available to Albertans are among the strongest in Canada — and Alberta’s lower home prices mean programs like the FHSA go further here.
All programs verified with government sources. Consult a licensed mortgage specialist to confirm what you qualify for.
1. First Home Savings Account (FHSA)
Up to $40,000 Tax-Free
The FHSA is the most powerful savings tool for Canadian first-time buyers. Contribute up to $8,000/year (lifetime max $40,000) and get a tax deduction on the way in — like an RRSP. Withdraw tax-free for a qualifying home purchase — like a TFSA. The FHSA is especially impactful in Alberta where buyers face no provincial income tax on contributions.
Key Details: $8,000/year contribution limit | $40,000 lifetime max | Tax-deductible contributions | Tax-free qualifying withdrawals | Must be a first-time buyer | Can be combined with RRSP HBP
Best for: Every Alberta first-time buyer — open an FHSA as early as possible to maximize tax-free growth. Available at all major banks and credit unions including ATB Financial, RBC, TD, BMO, and Scotiabank.
2. RRSP Home Buyers’ Plan (HBP)
Up to $35,000/person
Withdraw up to $35,000 from your RRSP tax-free to use as a down payment on your first home. Couples can each withdraw $35,000 for a combined $70,000. You repay the amount back to your RRSP over 15 years. If you don’t repay in a given year, that year’s portion is added to your taxable income.
Key Details: $35,000 per person ($70,000 per couple) | RRSP funds must have been deposited 90+ days prior | Must be a first-time buyer | Repay over 15 years | Can be combined with FHSA for maximum impact
Alberta Advantage: Albertans who have been making RRSP contributions and are in a high income bracket benefit most — the original contribution was deducted at a higher rate than the repayment income will be taxed, creating an effective tax arbitrage.
3. First-Time Home Buyers’ Tax Credit (HBTC)
$1,500 Tax Rebate
The federal First-Time Home Buyers’ Tax Credit gives you a $10,000 non-refundable tax credit in the year you buy your first home, resulting in up to $1,500 back at federal tax time. Claim it on your T1 return. Partners can split the credit between their returns. Simple, automatic, and available to all qualifying first-time buyers in Alberta.
Key Details: $10,000 credit = up to $1,500 federal tax back | Claimed on T1 in purchase year | Both partners can split | Applies to homes purchased January 1, 2022 or later | No application required — just claim on your return
Best for: All Alberta first-time buyers — this is truly free money with zero strings attached. Just claim it when you file your taxes the year of purchase.
4. GST New Housing Rebate
Up to $6,300
Alberta has no provincial sales tax, so buyers of new construction homes only pay the federal GST (5%) — not HST like in Ontario. First-time buyers of new homes priced under $450,000 can claim a partial GST rebate of up to $6,300. For homes between $350,000 and $450,000, a partial rebate applies. Builders often incorporate this into the purchase price, so confirm with your builder.
Key Details: Full rebate on homes under $350,000 | Partial rebate on homes $350,000–$450,000 | No rebate above $450,000 | New construction and substantially renovated homes | Primary residence required | Builder may apply automatically
Best for: Buyers of newly built homes in Calgary, Edmonton, or other Alberta communities. Ask your builder whether the GST rebate is included in your quoted purchase price or paid separately.
5. City of Calgary Affordable Home Ownership Program
Subsidized Pricing
The City of Calgary’s Affordable Home Ownership Program sells city-developed homes to income-qualifying buyers at below-market prices. Eligible buyers purchase a home at a discounted price and sign an agreement limiting resale gains — ensuring the home remains affordable for future buyers. This is not a cash grant but a direct housing subsidy that can represent significant savings on the purchase price itself.
Key Details: Below-market home prices | Income qualification required | Resale restrictions apply | Calgary city limits | Units are limited and subject to availability | Application through City of Calgary Housing
How to Apply: Contact the City of Calgary’s affordable housing office or visit calgary.ca/home-ownership for current available units and eligibility criteria. Waitlists apply.
6. CMHC Mortgage Loan Insurance & Flex Down
5% Minimum Down Payment
While not a grant, CMHC mortgage loan insurance enables Alberta buyers to purchase with as little as 5% down — far less than the 20% required for a conventional mortgage. For a $400,000 home in Calgary or Edmonton, that’s only $20,000 needed instead of $80,000. CMHC’s Flex Down also allows the 5% down payment to come from a gifted or borrowed source.
Key Details: 5% minimum down payment on homes up to $500,000 | Premiums of 2.8%–4% added to mortgage | Down payment can be gifted | Available through all major Alberta lenders | Enables faster market entry for first-time buyers
Best combined with: FHSA withdrawals + RRSP HBP to hit the 5% threshold faster. A mortgage specialist can show you how to structure the combination for your timeline.
Alberta Grant Summary Table
Frequently Asked Questions
Does Alberta have any provincial home buyer grants?
Alberta does not have a provincial Land Transfer Tax (unlike Ontario) so there is no provincial LTT rebate. Alberta also has no provincial sales tax, so HST rebates don’t apply. However, this works in buyers’ favour — Alberta’s total closing costs are significantly lower than Ontario’s, and the federal programs deliver strong value without provincial complications.
Can I combine the FHSA and RRSP in Alberta?
Yes — this is the most powerful combination available to Alberta first-time buyers. A couple can combine $40,000 from FHSA (per person, $80,000 combined) plus $35,000 each from RRSPs for up to $150,000 in tax-advantaged down payment funds. Consult a financial advisor or mortgage specialist to plan the timing.
Are Edmonton buyers eligible for the same programs as Calgary?
All federal programs (FHSA, RRSP HBP, HBTC, GST rebate) apply equally across Alberta — Edmonton and Calgary buyers qualify the same way. Calgary-specific programs like the Affordable Home Ownership Program are city-specific; Edmonton has its own separate affordable housing initiatives through the City of Edmonton.
Is the FHSA worth opening even if I’m not buying for a few years?
Absolutely — open it as soon as possible. Unused contribution room doesn’t carry forward the same way RRSPs do, so opening the account early lets you start accumulating room. Any growth inside the FHSA is tax-free, and you can invest in stocks, ETFs, or GICs within the account while you save.
Find Out Exactly What You Qualify For in Alberta
A licensed Alberta mortgage specialist can walk through every program and calculate your exact benefit — at no cost to you.