The Canada Revenue Agency headquarters' Connaught Building in Ottawa. Photo by Sean Kilpatrick/The Canadian Press files

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If you or a family member are thinking of buying your first home, there are three tax-advantaged savings programs that can help you come up with that initial down payment, reducing the amount you will need to borrow as a mortgage and potentially saving you thousands of dollars in interest costs. The three sources of tax-free down payment cash are, in my order of preference, the first home savings account ( FHSA ), the tax-free savings account ( TFSA ) and your registered retirement savings acco

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