Is an FHSA Halal for Buying My First Home?

Yes. The First Home Savings Account is halal when it holds Shariah compliant investments, and it pairs well with halal home financing.

You can contribute up to $8,000 a year and $40,000 in total. Contributions are tax deductible like an RRSP, and withdrawals for your first home are tax free like a TFSA. Hold screened investments inside it while you save, then use the money toward a down payment with a halal home financing provider.

Want to know if your own accounts pass? Book your complimentary review with me.