Trico Homes

In partnership with

Spark Financial Group

First-Time Buyer Advantage

Buy a brand new Trico home as a FTHB with $0 of your own savings.*

As of 2025, first-time buyers pay zero GST on a new build up to $1,000,000. Stack that with the RRSP Home Buyers' Plan and eligible buyers can walk into a new Trico home with their down payment coming back to them.

On a resale home there is no GST rebate, and the rebate is what makes this math work. The strategy only pencils on a new build, which is exactly what Trico Homes builds.

Trico Homes has built in Calgary since 1992, with over 12,000 single and multi-family homes across all four quadrants plus Airdrie, Chestermere, Cochrane, Okotoks, DeWinton and Harmony. Quick possessions are available, and Trico is a certified B Corp.

$50,000

Maximum GST rebate on a new build

$120,000

RRSP a couple can use for a down payment

$0

GST owing on new homes under $1M

See the numbersTalk to the Trico team

The Numbers

What a buyer gets back at every Trico Homes price point

Two separate pots of money. The GST rebate comes off the purchase of the new build. The tax refund comes from putting the down payment through an RRSP first. Both are federal programs and both are fully legal. The GST rebate applies only to new builds, and pairing it with the RRSP refund is what makes the strategy work. That pairing only works on new construction.

Buying as

Your annual income

  • $500KTotal money back$32,625
    Minimum down
    $25,000
    RRSP you can use
    $25,000
    Tax refund
    $7,625
    GST rebate
    $25,000
  • $600KTotal money back$40,675
    Minimum down
    $35,000
    RRSP you can use
    $35,000
    Tax refund
    $10,675
    GST rebate
    $30,000
  • $700KTotal money back$48,725
    Minimum down
    $45,000
    RRSP you can use
    $45,000
    Tax refund
    $13,725
    GST rebate
    $35,000
  • $800KTotal money back$56,775
    Minimum down
    $55,000
    RRSP you can use
    $55,000
    Tax refund
    $16,775
    GST rebate
    $40,000
  • $900KTotal money back$63,300
    Minimum down
    $65,000
    RRSP you can use
    $60,000
    Tax refund
    $18,300
    GST rebate
    $45,000
  • $1.0MTotal money back$68,300
    Minimum down
    $75,000
    RRSP you can use
    $60,000
    Tax refund
    $18,300
    GST rebate
    $50,000
  • $1.10MTotal money back$62,300
    Minimum down
    $85,000
    RRSP you can use
    $60,000
    Tax refund
    $18,300
    GST rebate
    $44,000
  • $1.20MTotal money back$54,300
    Minimum down
    $95,000
    RRSP you can use
    $60,000
    Tax refund
    $18,300
    GST rebate
    $36,000
  • $1.30MTotal money back$44,300
    Minimum down
    $105,000
    RRSP you can use
    $60,000
    Tax refund
    $18,300
    GST rebate
    $26,000
  • $1.40MTotal money back$32,300
    Minimum down
    $115,000
    RRSP you can use
    $60,000
    Tax refund
    $18,300
    GST rebate
    $14,000
  • $1.50MTotal money back$18,300
    Minimum down
    $300,000
    RRSP you can use
    $60,000
    Tax refund
    $18,300
    GST rebate
    $0

Total money back, by price point

$500K
$32,625
$600K
$40,675
$700K
$48,725
$800K
$56,775
$900K
$63,300
$1.0M
$68,300
$1.10M
$62,300
$1.20M
$54,300
$1.30M
$44,300
$1.40M
$32,300
$1.50M
$18,300

Figures are illustrations only. The GST rebate is the federal First-Time Home Buyers' GST Rebate: the full 5% back on new builds up to $1,000,000, phasing down to zero at $1,500,000. Tax refund figures assume the full RRSP contribution is deducted in one tax year at the bracket selected. Actual results depend on income, lender approval and CRA rules. Speak to Spark Financial Group and your accountant.

Income Qualifier

How much income does it take, with the RRSP loan counted in?

Lenders test two ratios. Housing costs alone must stay under 39% of gross income, and housing costs plus every other monthly payment must stay under 44%. The RRSP loan payment lands in that second ratio, so this calculator shows the income needed once it is included.

Buying as

The RRSP loan

To reach the $35,000 minimum down payment on this home, the suggested loan is $35,000. You can change any of it below.

Household income needed

$123,485

Gross annual income, before tax. The housing ratio is the limiting factor here.

Down payment used$35,000
Mortgage insurance premium$22,600
Total mortgage$587,600
Qualifying rate used6.29% (stress test)
Mortgage payment / month$3,633
RRSP loan payment / month$0
Housing costs / month$4,013
All monthly obligations$4,413

Income to pass 39% housing ratio

$123,485

Income to pass 44% total debt ratio

$120,361

Have my numbers checked

Illustration only, not a mortgage approval or advice. Figures use standard Canadian lending ratios (gross debt service 39%, total debt service 44%), the federal stress test qualifying rate (the greater of your rate plus 2% or 5.25%), typical default insurance premiums for less than 20% down, and half of any condo fee. Real approvals depend on credit, income verification, the lender's own policies and current program rules. Confirm every figure with a Trico Homes sales representative and Spark Financial Group's mortgage specialists.

How it works

Five steps from renting to a new Trico home

Frequently asked questions

Common questions, straight answers

The RRSP & Down Payment

Buying a New Build

Mortgage Approval & Finances

The Tax Refund & GST Rebate

Other Programs & Stacking Benefits

Working With Our Team

Answers are general information only, based on federal programs current at the time of writing. Eligibility, amounts, and program rules can change. Confirm your own situation with a mortgage professional and a tax professional before making decisions.

Run my numbers

Talk to the Trico team.See what fits your numbers.

Tell us a little about yourself and a Trico Homes sales representative will reach out to walk you through the homes and communities that fit. Whenever you are ready, Spark Financial Group's mortgage specialists are available to map out the numbers. No pressure, no obligation.

Your information is private and will never be sold. By submitting, you consent to be contacted by Trico Homes about this program, and by Spark Financial Group if you ask for mortgage help. You can withdraw your consent at any time.