Programs that reduce how much fresh cash a buyer needs are available, though: a Home Buyers' Plan withdrawal of up to $60,000 from an RRSP, or a First Home Savings Account with contributions up to $8,000 a year to a $40,000 lifetime limit, both count toward the required minimum rather than replacing it.
Below 20 percent down, mortgage default insurance through CMHC, Sagen or Canada Guaranty is mandatory, added to the loan, and Saskatchewan charges provincial sales tax on that premium in cash at possession, a cost separate from the down payment itself.
At the Saskatoon benchmark of $444,700, the minimum down payment is smaller than most buyers assume, but it is never zero. Get your hand-reviewed valuation from Joel Dyck.