Incentives for First Time Home Buyers in Saskatchewan:
Hello Readers, Millennials, Gen Z and all first-time homebuyers!
WELCOME to Mortgages with Jade. Here is a quick and easy to read guide of some of the incentives offered in Saskatchewan for first time home buyers. I have provided direct links for all the programs’ websites if you are looking for some more detailed information on any of these programs. Feel free to reach out to me via email at jaderegier@outlook.com if you have any questions at all about these programs and how we can use these incentives to your advantage in your mortgage application with me.
| Program / Incentive | What it is / Benefit | Key Conditions / Things to Know |
| Saskatchewan First-Time Homebuyers’ Tax Credit |
A provincial non-refundable income tax credit. As of Jan 1, 2025, the base amount you can use to calculate the credit increased (so your maximum benefit has increased).
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You must not have owned a home in the current year or in the previous 4 years. You must occupy the home as your principal residence within one year. |
| Federal supports you can combine
Home Buyers’ Plan Link: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan.html |
Things like the Home Buyers’ Plan (HBP) allowing you to withdraw RRSP funds, First Home Savings Account, etc. These help with down payment and early costs.
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Watch repayment terms (for HBP). Ensure you meet eligibility; using multiple programs may have overlapping or conflicting requirements. |
| PST Rebate on New Home Construction |
For certain new homes, there may be rebates on the provincial sales tax (PST) component, reducing upfront costs.
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Only applies to new construction; check the specific builder and whether they pass the rebate to you. Not all new builds will qualify. |
| Métis Nation – Saskatchewan First-Time Home Buyers Program
https://metisnationsk.com/housing/mns-fthb/
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Helps with down payment & closing costs (for eligible Métis citizens). |
Must check Métis status eligibility, income or asset thresholds, and whether the program funds are available in the location you’re buying. |
Let me make your mortgage journey stress-free and simple. Call or email me today!
306-241-6656 (leave a message with your name, number OR email and what program/incentive you’d like to take advantage of for your mortgage application)
