Permit status is what separates a suite a lender will underwrite from one it will not. The City of Saskatoon inspects for a separate entrance in many cases, proper egress, ceiling height and fire separation, and a lender treats an unpermitted basement apartment as unfinished living space rather than income.
Beyond legality, the amount counted depends on the lender's own policy and where your file lands against a 39 percent gross debt service ratio and a 44 percent total debt service ratio, with a minimum credit score of 600 required on an insured mortgage. Confirm the specifics with a mortgage broker before you write an offer.
Public listings and online tools describe square footage, not permit status, which is exactly where a hand-reviewed look at the property earns its keep. Get your hand-reviewed valuation from Joel Dyck.