First-Time Home Buyer Guide Saskatchewan: Programs, Rebates, and Tips (2026)
Updated
Saskatchewan is one of the most affordable provinces in Canada for first-time home buyers. There is no land transfer tax, home prices are well below the national average, and the Saskatchewan Graduate Retention Program offers up to $20,000 in tax credits for recent post-secondary graduates — a significant advantage for young buyers entering the market. The main trade-off: Saskatchewan charges 6% PST on CMHC insurance premiums, adding several hundred dollars to closing costs for buyers with less than 20% down.
First-Time Home Buyer Benefits in Saskatchewan
Benefit
Maximum Value
Who Provides It
No land transfer tax
$0 LTT (savings vs other provinces)
Provincial
Graduate Retention Program
$20,000 tax credit
Provincial
Federal First-Time Home Buyers’ Tax Credit
$1,500
Federal
FHSA
$40,000 tax-deductible savings
Federal
Home Buyers’ Plan (HBP)
$60,000/person RRSP withdrawal
Federal
GST New Housing Rebate
Up to $6,300
Federal
Saskatchewan Title Registration Fees
Instead of a land transfer tax, Saskatchewan charges ISC (Information Services Corporation) registration fees:
Fee
Calculation
Title transfer fee
$0 on first $500 + percentage on remainder (tiered)
Mortgage registration fee
$0 on first $500 + percentage on remainder (tiered)
Simplified Fee Estimates
Purchase Price
Approximate Title Transfer Fee
Approximate Mortgage Fee
Total
$250,000
$375
$350
$725
$350,000
$450
$400
$850
$400,000
$525
$475
$1,000
$500,000
$600
$550
$1,150
Compare to Ontario: A $400,000 home in Ontario incurs $4,475 in provincial LTT. In Saskatchewan, the total registration fee is approximately $1,000.
Saskatchewan Graduate Retention Program (GRP)
This is Saskatchewan’s most valuable incentive for young first-time buyers:
Feature
Details
Credit amount
Up to $20,000
Duration
Claimed over up to 10 years after graduation
Annual claim
Up to $2,000/year as non-refundable tax credit
Eligible graduates
Completed a post-secondary certificate, diploma, or degree at an eligible Saskatchewan institution (or some out-of-province programs)
Residency
Must file Saskatchewan tax return
How it helps buyers
Use the annual $2,000 tax savings toward mortgage payments, savings, or to offset PST on CMHC insurance
The GRP is not directly a homeownership program, but a $2,000/year tax reduction for up to 10 years meaningfully improves affordability for graduates buying their first home.
Deduction reduces both federal and Saskatchewan provincial tax
Home Buyers’ Plan (HBP)
Feature
Details
Maximum withdrawal
$60,000 per person ($120,000 couple)
RRSP seasoning
Funds must be in RRSP for 90+ days
Repayment period
15 years
Annual repayment
1/15 of withdrawn amount
Closing Costs in Saskatchewan
Cost
Estimated Amount
ISC title transfer fee
$375–$600
Mortgage registration fee
$350–$550
Legal fees + disbursements
$1,200–$2,000
Title insurance
$250–$500
Home inspection
$350–$500
Appraisal (if required)
$300–$500
PST on CMHC insurance (6%)
$0–$1,600 (if less than 20% down)
Property tax adjustment
Varies (pro-rated)
Moving costs
$500–$2,000
Total closing costs
$4,000–$8,000
PST on CMHC Insurance
Saskatchewan charges 6% PST on mortgage default insurance premiums. This is paid in cash at closing. See PST on mortgage default insurance for full details.
Purchase Price (5% Down)
Mortgage
CMHC Premium (4.00%)
SK PST (6%)
$250,000
$237,500
$9,500
$570
$350,000
$332,500
$13,300
$798
$400,000
$380,000
$15,200
$912
$500,000
$475,000
$19,000
$1,140
GST on New Homes
Situation
Tax
Resale home
No GST
New construction
5% GST (Saskatchewan has no PST on new homes)
GST New Housing Rebate
36% rebate if home ≤ $350,000
Saskatchewan does not charge PST on the purchase price of new residential homes — only on CMHC insurance premiums.
Saskatchewan-Specific Considerations
Property Tax Rates
City
Approximate Residential Rate
Annual Tax on $350K Home
Regina
~1.20%
~$4,200
Saskatoon
~1.15%
~$4,025
Prince Albert
~1.35%
~$4,725
Moose Jaw
~1.25%
~$4,375
Saskatchewan Housing Affordability
Metric
Saskatchewan
National Average
Average home price (2025)
~$340,000
~$700,000+
% of households who own
~72%
~66%
Median household income
~$75,000
~$70,000
Saskatchewan has one of the best income-to-home-price ratios in Canada, making homeownership more accessible than in most provinces.
Homestead Protection
Saskatchewan’s Homesteads Act provides protection for the family home:
Protection
Details
Spousal consent
Both spouses must consent to sell or mortgage the homestead
Cannot be seized
The homestead is partially protected from creditors (with exceptions for mortgage default)
Applies to
Primary residence on 160 acres or less (rural) or a city lot
Power of Sale
Saskatchewan uses a judicial process for mortgage enforcement. The lender must apply to court and the borrower has a right of redemption period.
Step-by-Step Process
Step
Timeline
Action
1
1–5 years before
Open FHSA, contribute to RRSP
2
6–12 months before
Get mortgage pre-approval
3
3–6 months before
Research neighbourhoods, set budget
4
When ready
Find a real estate agent
5
House hunting
View properties, make offers
6
Offer accepted
Conditions: inspection, financing (7–10 days)
7
30–60 days
Closing preparation with lawyer
8
Closing day
Sign documents, get keys
The Bottom Line
Saskatchewan’s combination of no land transfer tax, affordable home prices, and the Graduate Retention Program makes it one of the most accessible provinces for first-time buyers. A typical starter home in Regina or Saskatoon ($300,000–$400,000) requires a minimum down payment of $15,000–$20,000, and closing costs are among the lowest in Canada. The only notable extra cost is 6% PST on CMHC insurance if putting less than 20% down.