On a home at Saskatoon's benchmark price of $444,700, your total housing costs, mortgage payment, property tax and heat, are the number to run against that 39 percent line first, since it is usually the tighter of the two ratios for a typical buyer.
The minimum down payment in Canada is 5 percent on the first $500,000 of the purchase price and 10 percent on any portion above that, which changes the size of the mortgage you are qualifying for in the first place. $22,235 is the minimum down payment on a home at Saskatoon's benchmark price today.
Joel Dyck can connect you with a mortgage broker to run these numbers precisely before you start looking, so you are shopping with a real budget rather than a guess. Get your hand-reviewed valuation from Joel Dyck.