If you or a family member are thinking of buying your first home, there are three tax-advantaged savings programs that can help you come up with that initial down payment, reducing the amount you will need to borrow as a mortgage and potentially saving you thousands of dollars in interest costs. The three sources of tax-free down payment cash are, in my order of preference, the first home savings account (FHSA), the tax-free savings account (TFSA) and your registered retirement savings account (RRSP), accessed via the federal Home Buyers’ Plan (HBP). 

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