FHSA for buying into partner’s home — does this work?
Hey, wondering if anyone’s dealt with this.
I own a home and want to:
-Remove my dad from mortgage/title
-Add my girlfriend
-Possibly have her buy 25–50% of the home
She’s a first-time buyer with an FHSA.
Bank (ATB Financial) told me:
If we just add her → no penalty, just requalify
But didn’t ask about structuring it as a partial purchase.
Questions:
-Can FHSA (First Home Savings Account) be used to buy into an existing partner’s home?
-Does this usually trigger a mortgage break/penalty?
-Does the purchase agreement need to happen
before adding her to title?
-Trying to avoid penalties but still let her use FHSA if possible.
Appreciate any insight
u/Apprehensive_Toe_828 — 8 days ago