Anything below 20 percent down means the mortgage must be insured through CMHC, Sagen or Canada Guaranty, and Saskatchewan charges PST on that insurance premium at closing, which is a real cost first-time buyers often forget to budget for on top of the down payment itself.
The Home Buyers' Plan lets you pull up to $60,000 from an RRSP toward that down payment, and a First Home Savings Account shelters up to $8,000 a year to a $40,000 lifetime limit for the same purpose, both administered by the Canada Revenue Agency and both usable on a Martensville purchase exactly as they would be in Saskatoon.
Get your hand-reviewed valuation from Joel Dyck.