Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

What loan programs help first-time buyers earning $100K in Saskatoon?

A first-time buyer earning $100K in Saskatoon can combine the Home Buyers' Plan, an RRSP withdrawal of up to $60,000 repaid over 15 years, with a First Home Savings Account, up to $8,000 a year to a $40,000 lifetime limit, plus the standard minimum down payment of 5 percent on the first $500,000. The Canada Revenue Agency administers both accounts.

There is no dedicated municipal grant program for first-time buyers in Saskatoon, so the real leverage at this income comes from stacking the two federal accounts correctly rather than searching for a program that does not exist here.

New construction adds one more option some buyers miss: the GST new housing rebate can reduce the tax on a newly built or substantially renovated home, which a resale purchase does not qualify for.

Joel Dyck coordinates the timing of these accounts with your mortgage broker so nothing is left on the table. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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