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Smart idea to cycle any downpayment amount through the FHSA for the reduction of taxable income. Even if you’re not using it as an investment vehicle, it’s still got some value for first time homebuyers.
Actually, their downpayment was already transferred to their notary (QC), so they had to borrow the $16k on their credit card. For less than a month, they’ll have to pay $240 in interests but they should get back around $5700 in tax.