| Product | Best for | Price | FHSA room |
|---|---|---|---|
| Looniee Ours | FHSA room per person, with the HBP alongside | Free; Plus CA$72/yr | Calculated from CRA rules: $8,000 a year, $8,000 carry-forward cap, $40,000 lifetime |
| Greenline | a free FHSA room tracker with an iPhone app | Free during beta; paid plans not announced | Tracked from a starting room you confirm |
| CRA My Account | the official participation room | Free | Official participation room; may be off until your returns are assessed |
| Wealthsimple’s own app | an FHSA at Wealthsimple, contributed to only there | Free with a Wealthsimple account | Not tracked; this year's Wealthsimple contributions only |
| A spreadsheet | a single FHSA you're comfortable modelling yourself | Free | Whatever you build |
The FHSA rule that catches people
With a TFSA, unused room keeps adding up forever. With an FHSA it doesn't. Each year you get $8,000 of participation room, and you can carry forward unused room, but only up to $8,000. Skip two years and you can't put in three years' worth the year after: the most in any one year is $16,000.
Room only starts once you open your first FHSA, which is why people open one before they're ready to save. Over-contributions are taxed at 1% a month, the lifetime limit is $40,000, and the account has to be closed within 15 years of opening (or by the end of the year you turn 71, if that comes first). Check your own numbers with the free FHSA room calculator.
FHSA room available each year if nothing is contributed
Unused room carries forward, but only up to $8,000. After the second year, leaving an FHSA empty stops adding room.
Example: an FHSA opened in year 1 with no contributions| Item | Value |
|---|---|
| Year 1 | $8,000 |
| Year 2 | $16,000 |
| Year 3 | $16,000 |
| Year 4 | $16,000 |
| Year 5 | $16,000 |
Where the Home Buyers' Plan fits
Many first-time buyers use the FHSA and the Home Buyers' Plan together for the same home. The HBP lets you withdraw up to $60,000 from your RRSP, but unlike an FHSA withdrawal, it has to be repaid to your RRSP over the following years. If you plan to use both, track the repayment schedule too: how HBP repayment works.
01LoonieeOurs
Best for FHSA room per person, with the HBP alongside
This is ours. Looniee's FHSA engine works out your room from the year you opened the account and the contributions you log, applying the carry-forward cap, the lifetime limit and the closing deadline, and flags an over-contribution before you make it. The same Planner tracks TFSA, RRSP and RESP room, and the HBP repayment calculator handles the RRSP side of a home purchase.
If you're buying with a partner, Plus tracks each person's FHSA room separately, and adds a timeline that projects your FHSA balance against a down-payment target and date. The free plan covers one person.
What it won't do: connect to your bank. You log contributions or import your broker's file. It's web only and English only.
Good
- Applies the carry-forward cap and lifetime limit for you
- Each partner's room separately (Plus)
- HBP repayment calculator and guide
Not so good
- No sync; you log or import contributions
- Web only and English only
- Down-payment timeline is Plus only
02Greenline
Best for a free FHSA room tracker with an iPhone app
Greenline tracks FHSA room alongside TFSA, RRSP and RDSP room, reads PDF statements and screenshots, and has an iOS app. It's free while it's in beta.
You confirm your starting room and Greenline tracks contributions from there; its FAQ says "We don't pull this from CRA." Whether it applies the carry-forward cap isn't documented, and partner sharing isn't available yet, so a couple would be tracking two separate logins.
Good
- Free during beta
- iOS app and PDF statement import
- Tracks several account types' room
Not so good
- Carry-forward handling not documented
- No partner sharing yet
- Future pricing unknown
03CRA My Account
Best for the official participation room
CRA My Account shows your FHSA participation room, and it's the figure to reconcile against. It also appears on your notice of assessment.
The CRA adds its own caveat: "If all your income tax and benefit returns have not been assessed since the year you opened your first FHSA, the information … may not be accurate." And like the TFSA figure, it doesn't include what you've contributed this year.
Good
- The official figure
- Free
Not so good
- Not current until your returns are assessed
- Doesn't include this year's contributions
04Wealthsimple’s own app
Best for an FHSA at Wealthsimple, contributed to only there
Wealthsimple's app has an FHSA contribution tracker, but its help centre is clear about its scope: "the tracker only shows contributions you've made at Wealthsimple during the current calendar year." It doesn't calculate room or carry-forward.
If your only FHSA is at Wealthsimple, that plus CRA My Account is a reasonable setup. If you've ever had an FHSA elsewhere, it can't see it.
Good
- Free and automatic for Wealthsimple accounts
- Shows this year's contributions
Not so good
- Doesn't track room or carry-forward
- Only sees Wealthsimple contributions
05A spreadsheet
Best for a single FHSA you're comfortable modelling yourself
An FHSA is short-lived and the numbers are small enough for a spreadsheet: one row per year, $8,000 of new room, carry-forward capped at $8,000.
The mistake to avoid is a running total of unused room. Without the cap built in, a spreadsheet will happily tell you that you can contribute more than you can.
Good
- Free and fully in your control
Not so good
- You have to build the carry-forward cap yourself
- Nothing warns you before an over-contribution
Our pick
If you're buying alone, opened your FHSA at one place and contribute once a year, CRA My Account plus the free FHSA calculator is enough. You don't need a tracker.
If you're buying with a partner, have contributed at more than one institution, or are combining the FHSA with the Home Buyers' Plan, use a tracker that applies the carry-forward cap for each person. That's what Looniee does. If you'd rather have a free app and only need your own room, try Greenline while it's in beta.
What we'd do today
- Open your FHSA if you haven't, even with a small deposit. Room only starts accumulating once it's open.
- Sign in to CRA My Account and note your FHSA participation room, and whether all your returns since you opened it have been assessed.
- Run your contributions through the free FHSA room calculator to see this year's room and the carry-forward.
- If you'll also use your RRSP, read how HBP repayment works before you withdraw.
Questions
- How much can I put in my FHSA this year?
- $8,000 of new room plus up to $8,000 carried forward from last year, so at most $16,000, within the $40,000 lifetime limit. Room only starts the year you open your first FHSA. The FHSA calculator works it out from your history.
- Is the FHSA room in CRA My Account accurate?
- It's the official figure, but the CRA warns it may not be accurate if any of your returns since you opened the FHSA haven't been assessed yet. It also won't include contributions you've made this year.
- Can I use the FHSA and the Home Buyers' Plan for the same home?
- Yes, if you qualify for both. The HBP lets you withdraw up to $60,000 from your RRSP, which you then repay over time; a qualifying FHSA withdrawal doesn't need repaying. See how HBP repayment works.
- Does Wealthsimple track my FHSA room?
- No. Its FHSA contribution tracker only shows contributions made at Wealthsimple in the current calendar year. For room, use CRA My Account or a tracker that applies the FHSA rules.
We checked prices and features for every product here on its own website (earliest check: October 20, 2026). This changes often, so double-check before you pay for anything.
