That means qualifying around 39 percent of gross income on housing costs, 44 percent on total debt, and a minimum credit score of 600 for an insured mortgage. Joel Dyck can point you toward lenders who are comfortable underwriting a secondary suite addition specifically. A construction draw mortgage releases funds in stages tied to inspection milestones rather than all at once, which fits a secondary suite or garden suite build better than a lump-sum loan does, since the lender is financing work that is not finished yet.
Once the suite is built and permitted, some lenders will count documented, legal rental income from it toward qualifying for the mortgage itself, though that depends on the specific lender's policy and on the suite being fully legal under City of Saskatoon rules, not just built.
The financing path is available; which specific product fits depends on your existing mortgage and equity position. Get your hand-reviewed valuation from Joel Dyck.