None of these is a cheque handed over at possession. The Home Buyers' Plan allows a withdrawal of up to $60,000 per person from an RRSP, repaid over 15 years, while the First Home Savings Account lets a buyer contribute up to $8,000 a year to a $40,000 lifetime limit with the withdrawal tax free. The two tax credits arrive as a refund the following spring, not as cash at closing.
Saskatchewan's own credit is a non-refundable provincial tax credit worth a modest but real amount against provincial tax owing, and it can be combined with the federal programs since they are administered separately by the Canada Revenue Agency and the province.
For a seller, this matters because a meaningful share of Saskatoon buyers are financing a purchase with this exact stack of programs, which is part of what supports demand at the current benchmark of $444,700.
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