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Estimate your mortgage payment, CMHC insurance and the cash you need to close in Saskatchewan, starting from the Saskatoon benchmark of $444,700. Saskatchewan has no land transfer tax, gives first-time buyers a provincial tax credit of up to $1,575, and charges 6% PST on the CMHC premium.
Benchmark prices August 2026 · Rules checked October 16, 2026
Mortgage calculator for Saskatchewan
It opens on the Saskatoon benchmark price of $444,700 (August 2026). Pick another Saskatchewan market or type your own price, then set your down payment, rate and amortization. The rate starts at 4.5%, our rounded assumption from Bank of Canada data, not a quote.
$1,969.04monthly mortgage payment
Down payment
$88,940 (20.0%)
CMHC insurance premiumNot needed with 20% or more down
$0
Mortgage amount
$355,760
Cash you need on closing day
Down payment
$88,940
Title transfer feeNot estimated: we couldn’t confirm the current fee schedule. See the official fees
Not included
Total cash to close
$88,940
Saskatchewan has no first-time buyer rebate on its title fees. See the programs below for the help that does apply.
CMHC says closing costs usually run 1.5% to 4% of the price: $6,671 to $17,788 on this home.
Prices: CREA MLS® Home Price Index, composite benchmark, August 2026. Payments use semi-annual compounding, as Canadian fixed-rate mortgages do. CMHC premiums and the minimum down payment follow CMHC’s published rules. Your own estimates stay in your browser.
Saskatchewan at a glance
CREA MLS® Home Price Index composite benchmark for Saskatoon, August 2026, not seasonally adjusted.
A typical home in the market, not an average sale price.
Saskatchewan has no land transfer tax. ISC charges a title fee we couldn’t confirm from a live official page.
Saskatchewan has no first-time buyer rebate on its title fees.
See the first-time buyer programs below for the help that does apply.
5.0% of the benchmark price: 5% of the first $500,000 and 10% of the rest.
With 20% down it’s $88,940.
At 4.5% over 25 years, our default rate assumption, with semi-annual compounding.
Paid in cash at closing. With the minimum down payment on this home: $1,014.
CMHC: Ontario, Quebec and Saskatchewan tax the premium.
FIRST-TIME BUYERS
First-time buyer programs in Saskatchewan
Saskatchewan’s help for first-time buyers comes at tax time rather than at closing: a provincial credit on top of the federal home buyers’ amount, which the province says adds up to a $3,075 cut in income tax. New homes priced under $550,000, not counting the land, also get part of their PST back.
Provincial
First-time Homebuyers’ Tax Credit
Up to $1,575provincial income tax credit: 10.5% of $15,000
WHO QUALIFIES Buyers who didn’t live in a home they owned in the year of purchase or the previous four years, buying a new or existing home in Saskatchewan they’ll live in within a year.
Claim it on Form SK428 with your Saskatchewan return for the year you buy. It was $1,050 for purchases made by December 31, 2024.
It’s non-refundable, so it only helps if you owe Saskatchewan income tax, but you can share it with a spouse.
Not available if you got a Graduate Retention Program First Home Plan loan.
WHO QUALIFIES Anyone buying a new, never-occupied home in Saskatchewan with a total price under $550,000 before taxes, not counting land, furniture, furnishings and appliances.
The 2025-26 Budget made the program permanent.
First-time buyers can add the federal GST rebates on new homes on top.
Federal programs for first-time buyers in Saskatchewan
These work the same in every province. Many first-time buyers can use several together: the FHSA and the Home Buyers’ Plan for the down payment, the home buyers’ amount at tax time, and the GST rebates on a newly built home.
Federal
First Home Savings Account (FHSA)
$8,000 a year$40,000 lifetime: deductible going in, tax-free coming out
WHO QUALIFIES Canadian residents aged 18 to 71 who haven’t lived in a home they or their spouse owned in the current year or the previous four calendar years.
Contributions are deductible like RRSP contributions, and a qualifying withdrawal to buy your first home is tax-free and never repaid.
Unused room carries forward up to $8,000, so the most room you can have in one year is $16,000. Room only starts once you open the account.
The account has to close by the end of the year of the 15th anniversary of opening it, the year you turn 71, or the year after your first qualifying withdrawal.
$60,000per person from your RRSP, with no tax withheld
WHO QUALIFIES First-time buyers (the same four-year test) with a written agreement to buy or build a qualifying home in Canada that they’ll live in within a year.
You repay it to your RRSP over up to 15 years. For a first withdrawal between January 1, 2026 and December 31, 2028, repayments start in the fifth year after the withdrawal.
Any year you repay less than the minimum, the shortfall is added to your income.
You can use the HBP and an FHSA withdrawal for the same home, and the home must be bought or built before October 1 of the year after your first withdrawal.
Home buyers’ amount (first-time home buyers’ tax credit)
$10,000claimed on line 31270 as a non-refundable federal credit
WHO QUALIFIES First-time buyers (no home owned and lived in by you or your spouse in the year of purchase or the four years before), and buyers eligible for the disability tax credit.
It lowers the federal tax you owe; there’s no refund if you owe no tax.
Two eligible buyers can split it, but not above the $10,000 total for the home.
You must plan to live in the home within one year of buying it.
Up to $50,000all the GST, or the federal part of the HST, on a new home up to $1 million
WHO QUALIFIES First-time buyers 18 or older, citizens or permanent residents, who haven’t lived in a home they or their spouse owned this year or the previous four, buying or building a new home to live in.
Full rebate at $1 million or less, shrinking to nothing at $1.5 million. CRA’s example: a $1.25 million home gets $25,000.
Bought from a builder: the agreement must be signed on or after March 20, 2025 and before 2031, with construction starting before 2031.
It tops up the regular GST/HST new housing rebate, and applies only to newly built or substantially renovated homes.
Saskatchewan has no land transfer tax. Information Services Corporation (ISC), which runs the land registry, charges a fee to transfer the title based on the property’s value, plus a fee to register your mortgage.
We couldn’t read ISC’s current fee schedule on a live official page, and ISC raised selected Land Registry fees on April 15, 2026, so the calculator doesn’t estimate the title fee. Ask your lawyer for the amount on your purchase.
CMHC puts closing costs at 1.5% to 4% of the price. In Saskatchewan they’re the ISC title and mortgage registration fees, legal fees, a home inspection, title insurance and adjustments.
One cost specific to Saskatchewan is PST on the CMHC premium: 6%, paid in cash because it can’t be added to the mortgage. With the minimum down payment on the $444,700 Saskatoon benchmark, it’s about $1,014.
On the $444,700 Saskatoon benchmark
Cost
Amount
Notes
Title transfer fee
Not estimated
Set by ISC; see the official fee schedule
Sales tax on the CMHC premium
$1,014
6% of a $16,899 premium at the minimum down payment
Legal fees and disbursements
Get a quote
Your lawyer also registers the transfer and mortgage
Home inspection
Get a quote
Optional; you can make your offer conditional on one
Title insurance
Get a quote
Optional; often arranged by your lawyer or notary
Property tax and utility adjustments
Varies
Repaying the seller for anything they prepaid past closing
CMHC’s rule of thumb
$6,671 to $17,788
1.5% to 4% of the price for all closing costs together
THE GUIDE
Buying a home in Saskatchewan: what else to know
PST on mortgage insurance in Saskatchewan
Saskatchewan applies its 6% PST to insurance premiums, and its PST bulletin lists mortgage default insurance as taxable. CMHC confirms Saskatchewan is one of three provinces, with Ontario and Quebec, that tax the premium, and that the tax can’t be added to the loan.
With 20% or more down you don’t need mortgage insurance, so there’s no premium and no PST on it.
Down payment rules in Saskatchewan
The minimum is 5% of the first $500,000 of the price and 10% of the part above. Saskatoon’s and Regina’s benchmarks are both under $500,000, so the minimum is a flat 5%: $22,235 in Saskatoon and $17,445 in Regina.
With less than 20% down the mortgage must be insured, and the CMHC premium (4.00% of the loan with under 10% down) is added to the mortgage. First-time buyers can choose a 30-year insured amortization through CMHC Home Start.
Saskatoon and Regina prices
Saskatoon’s benchmark is $444,700 and Regina’s is $348,900 (August 2026). With 20% down at 4.5% over 25 years, that’s about $1,969 a month in Saskatoon and $1,545 in Regina.
Using your FHSA and RRSP in Saskatchewan
Each first-time buyer can withdraw everything in their FHSA tax-free and up to $60,000 from an RRSP under the Home Buyers’ Plan for the same home. FHSA withdrawals are never repaid; the Home Buyers’ Plan goes back into your RRSP over up to 15 years.
Mortgage lenders in Saskatchewan
The big banks lend across Canada, including in Saskatchewan. Listed for convenience, not ranked here. See every lender’s current rates on mortgage rates in Canada.
How do I use this Saskatchewan mortgage calculator?
Pick Saskatoon or Regina to start from its benchmark price, or type your own. Set your down payment, rate and a 25 or 30 year amortization. You get the monthly payment, the CMHC premium and the 6% PST on it, and the cash you need on closing day.
What is the monthly mortgage payment on a typical Saskatoon home?
On the Saskatoon benchmark of $444,700 (August 2026), with 20% down at 4.5% over 25 years, about $1,969 a month.
What is the monthly mortgage payment on a Regina home?
On the Regina benchmark of $348,900 (August 2026), with 20% down at 4.5% over 25 years, about $1,545 a month.
Does Saskatchewan have a land transfer tax?
No. ISC charges a title transfer fee based on value and a fee to register the mortgage. We don’t estimate them because we couldn’t confirm ISC’s current schedule on an official page.
How much is the Saskatchewan First-time Homebuyers’ Tax Credit?
Up to $1,575: 10.5% of the first $15,000 of an eligible purchase, for homes bought since January 1, 2025. It’s non-refundable, so it reduces Saskatchewan income tax you owe. Claim it on Form SK428.
Is PST charged on CMHC insurance in Saskatchewan?
Yes, 6% of the premium. It’s due at closing and can’t be added to the mortgage. On the Saskatoon benchmark with the minimum down payment, it’s about $1,014.
How much down payment do I need in Saskatchewan?
5% of the first $500,000 and 10% of the rest, or 20% at $1.5 million or more. On the Saskatoon benchmark that’s $22,235.
Is there a rebate on new homes in Saskatchewan?
Yes. The PST Rebate for New Home Construction returns up to 42% of the PST paid on a new home priced under $550,000 before taxes, not counting land. First-time buyers can also get up to $50,000 of GST back through the federal FTHB rebate.
Can I use the FHSA and Home Buyers’ Plan together in Saskatchewan?
Yes. Both are federal, and you can make a qualifying FHSA withdrawal and an HBP withdrawal for the same home if you meet the conditions for each.
General information, not financial or legal advice. Programs have conditions on residency, past ownership and price; your lawyer or notary and the program will confirm what you qualify for. Rules checked October 16, 2026. See our methodology.
