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Is there a maximum account balance for a First-Time Home Buyer Savings Account?
Is there a maximum account balance for a First-Time Home Buyer Savings Account?
Yes, there is a maximum account balance of $50,000, and no more contributions may be made into a first-time home buyer savings account once it reaches the maximum account balance of $50,000. However, accounts may continue to accrue interest if the total balance has reached the maximum account balance.