A 2026 Guide for First-Time Buyers:

How Much Should You Budget?

In Saskatchewan, closing costs typically sit around that 1.5%-4% of the purchase price.

Example: On a $350,000 home, expect to pay roughly $5000-$12,000 in closing costs.

*Of course these are just estimates and homebuyers can often close with closing costs a bit lower or higher than projected. There is a closing cost calcualtor on my mortgage toolbox app. Find the link here:

https://www.dlcapp.ca/app/jade-regier?lang=en

Most first time buyers underestimate this number.

What Are Closing Costs Anyways?

Closing costs are the extra expenses you pay when purchasing a home OUTSIDE of your down payment.

They are usually paid on or close to possession day.

To reiterate: Down payment ≠ closing costs

Breakdown of Closing Costs in Saskatchewan:

A. Lawyer Fees ($1,200-$2,400)

• Required in Saskatchewan
• Covers title transfer, mortgage registration & legal paperwork
• Slightly higher if you’re refinancing or buying privately

B. Land Titles & Registration Fees (Variable)

• Saskatchewan charges a percentage-based registration fee
• Roughly 0.3% of the home price for mortgage and title registration

Example: $350,000 home = approximately $1,050

C. Home Inspection ($400-$700)

• Strongly recommended for first time buyers
• Not mandatory, but protects you from surprises

D. Property Tax Adjustments (Variable)

• If the seller prepard their property taxes, you may have to reimburse them for the months they were still living in the home
• This can be a few hundred to a few thousand dollars, depending on the time of year.

E. CMHC Mortgage Insurance (If Putting Less Than 20% Down)

• Required if down payment is under 20%
• Added to the mortgage (not paid upfront)

*This is not a closing cost you bring in cash – it is rolled into your mortgage payment*

F. Moving Costs and Utility Hookups

• Movers
• Truck Rental
• SaskPower/SaskEnergy deposits
• Internet Setup

These aren’t technically legal closing costs, but they still need to be paid on/around possession day.

Example Scenarios:

1. $300,000 home with 5% down

   • Lawyer: $1,500

   • Land Titles: $900

   • Inspection: $500

   • Tax Adjustment: $800

   • Total: ~$3,700–$4,000

2. $450,000 home with 20% down

   • Lawyer: $1,700

   • Land Titles: $1,350

   • Inspection: $600

   • Tax Adjustment: $1,500

   • Total: ~$5,000+

When do closing costs get paid? Here’s a simple timeline after the offer is put in on the home you want to purchase:

Step 1 – home offer accepted

Step 2 – conditions removed

Step 3 – Lawyer contacts buyers 1-2 weeks before posession

Step 4 – You bring certified funds or wire transfer

Can You Add Closing Costs to Your Mortgage?

No, they must be paid in cash. There are some exceptions if you increase the purchase price. For example: property tax reimbursement, etc.

Tips for First Time Buyers in Saskatchewan:

• Start saving 3–6 months before shopping

• Ask your mortgage broker for a closing cost estimate early

• Don’t drain your entire bank account on down payment

• Leave a small emergency buffer in case of surprises that arise

Common Mistakes First Time Buyers Make:

• Thinking the down payment is the only upfront cost
• Forgetting about tax adjustments
• Spending all (and I mean ALL) their savings on the down payment
• Spending all their savings on furniture before possession day
• Not budgeting for the first mortgage payment timing (may be slightly more or slightly less than the projected scheduled payment)

What I Tell My First-Time Buyers:

If you’re buying in Saskatoon or anywhere in Saskatchewan, I always estimate closing costs early so there are no surprises on possession day.

Message me anytime for a personalized closing cost estimate.

Thanks for being here 🙂

Jade Regier | Licensed Mortgage Professional

One of the most common questions I get asked is “Can I get a mortgage while on maternity leave?”

The short answer: Yes.

You can can get a mortgage while on maternity leave in Canada, but lenders are going to look at your situation a little differently than if you were working full-time or even part-time. It’s all about proving your return-to-work income and overall financial stability.

If you’re applying for a mortgage with a parter or spouse, even better. Their income provides stability as well – which works in your favour. It’s all about what your income (or dual income) totals will be after you’re done maternity leave.

Let’s break it down:

• Maternity leave income (EI + top up) is temporary
• Lenders want to know what you’ll earn once you return to work
• In Canada, an employer legally has to “hold” your job position, or have a position available at your return to work date that provides you with the same income as when you left. In simple terms: they have to guarantee you have a job to go back to, with the same wage.
• Lenders will typically base your mortgage approval on your return-to-work salary, not just your EI.

What you need to qualify?

• A letter of employment (LOE) confirming your return to work date + salary
• Pay stubs from before you started mat leave
• Proof of mat leave income (EI statements or employer top -up)
• Proof of down payment and closing costs (lender wants to know you have the money for these costs now).

This is why working with a broker (It’s me, Hi!) helps, because I know exactly how to package this to lenders unlike a traditional bank.

“Can I still get a mortgage with a major bank or mono-line? (Scotiabank, BMO, RBC etc.)

Of course. I work with most major banks (the big 6), credit unions, mono-line lenders and alternative lenders. You can still get the most competitive rates possible while on mat leave!

Timing: When should you apply?

• You can apply while on mat leave
• You don’t need to wait until you are back at work

Important consideration: “What if I’m switching jobs?”

• This situation can be a little nuanced, but still workable in certain situations. You just need the right lender and strategy (B-lenders would be our go-to for situations like this).

Tips to Make the Process Easier:

1. Keep your credit strong during mat leave
2. Avoid taking on new debt (don’t buy that mom-minivan just yet, ok?)
3. Save for your down payment early
4. Get pre-approved before you go on mat leave (if possible)

Why working with a broker (ME) matters:

• Unlike a bank, I have access to multiple lenders and underwriters willing to consider loans for nuanced and more unique scenarios
• Brokers like me have more experience with mat leave files + trickier lending situations
• I have the ability to structure a deal creatively, the bank does not. The bank also does not have relationships or access to alternative lending solutions.

Being on maternity leave shouldn’t stop you from buying a home. There are many options out there, and I can help you find the one that works – all while keeping your stress down so you can focus on what matters during mat leave, your little one.

Picture this: You’re getting ready to purchase a home – you’re looking a listings online, maybe you’re contacting your realtor… a lot. You want to be prepared when you find your dream home – so here’s a list of my biggest NO-NO’s when entering the buyer’s market (in no particular order):

Making Big Purchases

Avoid buying cars, furniture, or electronics while house hunting.

New debt can impact what you qualify for.

Changing Jobs or Income

Switching jobs, becoming self-employed, or changing pay structure can delay or affect approval.

Missing or Late Payments

Even one missed payment can hurt your mortgage application.

Stay consistent with bills during this time.

Opening New Credit

New credit cards or lines of credit can lower your borrowing power.

Moving Money Without a Paper Trail

Large deposits or transfers need to be explained.

Always check with me before moving funds.

Skipping the Pre-Approval

House hunting without a pre-approval can lead to disappointment or lost opportunities.

Assuming Online Calculators Are Accurate

Online tools don’t reflect lender rules or your full financial picture.

Not Asking Questions

There are no bad questions.

Clear answers now prevent stress later.

How I Help

✔ Review your situation before you shop

✔ Flag issues early

✔ Coordinate with your realtor

✔ Guide you all the way to possession day

Personal guidance. No cost to you. No pressure.

📞 306.241.6656

📧 jade.regier@dominonlending.ca

Documents You’ll Need for a Mortgage Pre-Approval in Saskatchewan – by Mortgages With Jade 

Whether you’re a first time homebuyer in Saskatchewan or you’ve owned a home before, getting a mortgage pre-approval is one of the best first steps you can take. A pre-approval helps you understand what you need for pre-approval, how much you’re comfortable spending, and what your mortgage options actually look like…before you fall in love with a house.

I get asked all the time about pre-approval requirements in Saskatchewan, so below is a clear, no-jargon breakdown of the documents typically needed for a pre-approval Saskatchewan lenders will accept – and why each one matters.

1. Proof of Identification

What you’ll need:

• One or two pieces of valid government-issued ID (driver’s licence, passport, or permanent resident card)

Why it’s needed:

This one’s straightforward. Lenders need to confirm who you are for regulatory reasons and to make sure the mortgage is being set up correctly from the start.

2. Proof of Income

The exact documents here depend on how you earn your income.

If you’re employed (salary or hourly):

• Recent pay stubs (usually your last 2–3)

• A letter of employment confirming your role, income, and how long you’ve been with your employer

Why it’s needed:

This shows the lender that your income is reliable and ongoing, which is a key part of meeting pre-approval requirements.

If you’re self-employed:

• Your last 2 years of personal tax returns (T1 Generals)

• Notices of Assessment (NOAs)

• In some cases, basic business financials

Why it’s needed:

Self-employed income can vary year to year, so lenders look at a longer history to get a clear, realistic picture.

3. Proof of Down Payment

What you’ll need:

• Recent bank or investment statements (typically showing the last 90 days)

• A signed gift letter if part of the down payment is coming from immediate family

  • I can provide you with a template for this with the exact required wording most underwriters are looking for. Then you have whomever is gifting you the funds for your down payment revise and sign it.

Why it’s needed:

Lenders must verify that your down payment is your own money (or an eligible gift) and not borrowed. Where the funds come from is just as important as how much you have.

4. Credit Information

What you’ll need:

• Your consent to run a credit check (no paperwork required from you)

Why it’s needed:

Your credit history helps determine your interest rate and mortgage options. It shows how you’ve handled debt in the past, not just what you earn today.

5. Current Debt Details

What you’ll need:

• Details on any existing debts like car loans, student loans, lines of credit, or credit cards

Why it’s needed:

Pre-approval isn’t just about income. Lenders look at your full financial picture to make sure your future mortgage payment fits comfortably with everything else.

6. Proof of Residency or Status (If Applicable)

What you’ll need:

• Permanent resident card or valid work permit, if you’re not a Canadian citizen

Why it’s needed:

Your residency status can affect which lenders and mortgage programs are available when applying for a pre-approval in Saskatchewan.

7. Separation or Divorce Documents (If Applicable)

What you’ll need:

• Separation agreement or divorce decree

• Details of any child or spousal support payments

Why it’s needed:

These documents help clarify ongoing financial obligations so there are no surprises during the pre-approval process.

A Few Helpful Things to Know

• You don’t need everything perfectly organized before reaching out. I can help you figure out exactly what applies to your situation.

• A pre-approval is not a final approval. Final approval happens once you’ve found a home and have an accepted offer.

• Even if you’ve owned before, pre-approval requirements change, and each application is reviewed fresh.

Final Thoughts

A mortgage pre-approval is really about clarity. It helps you shop with confidence, avoid overextending yourself, and make informed decisions,  whether you’re a first time homebuyer in Saskatchewan or a seasoned one.

If you’re unsure what you need for pre-approval, or you just want a second opinion before moving forward, a quick conversation can make the whole process feel a lot easier.

Clear answers. No pressure. Just good information.

🏡 January 2026 Mortgage Newsletter | Mortgages with Jade

Happy New Year!

Hi everyone,

I hope you had a wonderful holiday season and are feeling refreshed heading into 2026. Whether you’re a homeowner, future buyer, REALTOR®, or just someone who likes to stay informed about the market,  I wanted to kick off the year by sharing a quick mortgage and housing update.

Inside you’ll find:

• A snapshot of current mortgage rates

• Key Bank of Canada insights & rate announcement dates

• What’s happening in the Saskatchewan housing market

• A quick note on referrals & incentives

📊 Current Mortgage Rate Snapshot

(Rates change frequently — these are for reference only)

• 5-Year Fixed: 3.94% – 3.99%

• 3-Year Fixed: 3.94%-4.04%

• Variable Rate: 3.70%-3.75%

• Prime Rate: 4.45% – from ratehub.ca

If you’re planning to buy, renew, or refinance this year, getting a personalized quote and strategy matters far more than just chasing the lowest posted rate.

Bank of Canada: What to Know Right Now

The Bank of Canada (BoC) controls the policy interest rate, which directly influences the prime rate set by lenders. Changes to this rate mainly affect variable and adjustable-rate mortgages, but they also influence fixed rates indirectly through market expectations.

Why this matters to you:

• Variable-rate mortgages move when prime changes

• Payment amounts or amortizations can shift on adjustable mortgages

• Fixed rates are impacted by bond markets reacting to BoC guidance

• Timing purchases, renewals, or refinances around these decisions can save (or cost) real money

Even when rates don’t change, the messaging from the Bank often moves the market.

Bank of Canada Rate Announcement Dates – 2026

Here are the scheduled dates when the Bank of Canada will announce potential rate changes this year:

• January 28

• March 18

• April 29

• June 10

• July 15

• September 2

• October 28

• December 9

Tip: The announcements in January, April, July, and October also include a Monetary Policy Report, which provides deeper insight into inflation, economic outlook, and future rate direction.

• Mortgages with variable rates, adjustable mortgages, or upcoming renewals — these dates matter.

📍 Saskatchewan Housing Market Insights

Here’s what I’m seeing and what’s being reported locally as we head into 2026:

1. Continued demand across Saskatchewan

   Our market has remained relatively resilient compared to many larger Canadian cities, with steady buyer interest.

2. Affordability still attracts buyers

   Saskatchewan continues to offer comparatively accessible price points, especially for first-time buyers and relocations.

3. Balanced conditions in many areas

   While some pockets remain competitive, we’re seeing more thoughtful decision-making from buyers — strategy matters more than ever.

🤝 Referrals & Realtor Incentives

I’m currently offering great referral incentives for REALTORS® and anyone in my network who refers a friend, family member, or client that successfully funds a mortgage with me.

If you’re in real estate, finance, or simply know someone who needs mortgage advice this year feel free to reach out and ask how it works.

📞 Let’s Chat

Have questions about rates, renewals, buying, refinancing, or what 2026 might look like for you?

When I was 19, I stepped into the home-buying process completely naïve about how mortgages actually worked. I had no real understanding of what applying for a mortgage involved, what lenders looked for, or what to expect along the way. What I wasn’t prepared for was how overwhelming it felt. The uncertainty made everything more stressful than it needed to be, and the process felt long and exhausting simply because I didn’t know what was coming next.

Fast forward a few years, and now as a mortgage broker myself — that experience is exactly why I do what I do. My goal is to take the stress out of the mortgage process by being a steady source of support: emotionally, educationally, and every step in between. I never want my clients to feel confused, left in the dark, or anxious about what’s happening behind the scenes. Buying a home is a big deal, and it can come with a lot of emotions — but it doesn’t have to feel overwhelming.

If I could go back and share a few things with my younger self : the things I wish I had known before applying for a mortgage in Saskatchewan… these would be at the top of the list:

1. Applying for a mortgage can feel invasive – my job is to ease this feeling and support you along the way.

   It can feel like you’re being asked for every document imaginable. That’s completely normal. You’re not alone! Canadian lenders are getting increasingly more specific about what they need to ensure you’re a good fit as a borrower.

   ---

2. The process might not feel smooth. It may take longer than you may have expected to gather documents, confirm banking information or secure where your down-payment is coming from. It is important that if these steps take longer than expected or feel frustrating along the way – not to get discouraged. It will be worth it. My job is to assist in making this step SPECIFICALLY feel less stressful. That’s the advantage of a mortgage broker. I provide updates along the way so you never feel like you’re in the dark about what step of the process we’re in, and what the next steps are.
   

   ---

3. Sometimes lenders say no – and that’s okay. My job as a mortgage broker is to find you a lender that fits your mortgage needs and future goals – all at a great rate. Not every lender will be a good fit. Just like jeans. Sometimes you have to shop around until you find the perfect fit. That’s my job.

4. ---

   The down payment isn’t the only up-front expense. You need to also have a little bit of cash set aside for things like home inspection, appraisal, closing costs and lawyer fees. These things can be a bit of a surprise to people – especially first time homebuyers if you are not aware of them before hand

   • • Side Note: My Mortgage Toolbox App has a feature where you can calculate and add in these additional costs into your payment and mortgage scenario builder – to break down exactly all the expenses one can expect. From the mortgage payment to property taxes to closing costs – you can add them all up and even compare plans in the built-in scenario builder for all types of Canadian mortgage scenarios.
     • Link: Mortgage Toolbox

5. ---

   It really is the best idea to get pre-approved before you start home-hunting. There are so many upsides to getting approved :

   • Know your budget before you even start scrolling listings

   • Sellers will take you more seriously. A pre-approval is financial credibility – sellers love this.

   • Catch any credit stuff early so it doesn’t slow you down

   • Focus only on homes you can actually afford

   • Get an idea of your monthly payments and rates

   • Make your offer smoother when you find the one

Here’s the basics of what I’m trying to say: Buying a home sometimes doesn’t always go smoothly or according to plan. That’s okay. My job is to tackle things behind the scenes, providing you with consistent support and updates – all while considering your goals, needs and feelings surrounding the mortgage application and submission process.

Being a first time homebuyer in Saskatchewan can be daunting, especially when you don’t know where to start or what to expect when applying for a mortgage.

I’ll be your trusted Saskatchewan mortgage application guide. Let’s make your mortgage happen.

Your trusted Saskatchewan Mortgage Associate,

– Jade

5 Things to Know Before Buying a Home in Saskatoon

Buying a home in Saskatoon is exciting, but it can feel overwhelming if you’re not sure where to start. Whether you’re a first-time homebuyer or moving within the city, understanding the Saskatoon housing market and your mortgage options can make the process way smoother. Here are five important things to know before you start your home search.

1. Saskatoon Neighbourhoods All Feel Different: Explore Them Early

Saskatoon is full of unique neighbourhoods, from family-focused suburbs like Evergreen and Rosewood to established areas like Nutana, Varsity View, and Lakeview. Before you start booking showings, figure out what fits your lifestyle and budget.

Think about: commute, nearby schools, shopping, parks, and how close you want to be to the river.

Knowing your neighbourhood preferences upfront helps you shop with confidence.

2. Get Pre-Approved Before You Fall in Love With a Home

A pre-approval is your foundation. It tells you exactly what you can afford in the current Saskatoon market and protects you from surprises when rates fluctuate.

Getting pre-approved also shows sellers you’re serious — which is huge in competitive price ranges.

Plus, it saves you hours of looking at homes outside your budget.

3. Understand What Homes Really Cost in Saskatoon

Home price is one thing — but make sure you budget for all the extras:

• Property taxes (this can depend on what area you buy in)

• Home insurance

• Utilities (Saskatoon winters can make these higher!)

• Condo fees, if applicable

• Closing costs and legal fees

Having a clear picture of your total monthly costs helps you choose a home that fits your long-term budget, not just your pre-approval amount.

4. The Saskatoon Market Moves — Don’t Wait for “Perfect” Conditions

The truth? The market is never perfectly stable.

Prices shift, rates change, inventory rises and falls — but waiting for ideal conditions often means missing great opportunities.

If you’re financially ready and have a solid pre-approval, the best time to buy is when the right home appears, not when the market is “perfect.”

5. Work With a Mortgage Broker Who Knows Saskatoon

Local knowledge matters.

A Saskatoon-based mortgage broker can compare multiple lenders, explain the pros and cons of fixed vs. variable rates, and help you navigate Saskatchewan-specific details like incentives, down payment rules, and lender differences.

Working with someone who understands the local market, like me — and answers their phone — keeps the process clear, calm, and organized from start to finish.

Final Thoughts

Buying a home in Saskatoon doesn’t have to feel stressful. With the right prep work, a strong pre-approval, and a mortgage expert in your corner, you can move forward with confidence.

If you’re thinking about buying, refinancing, or just want to explore your options, I’m here to help.

💛 Let’s make your mortgage happen.

Worries and Fears:

If the thought of applying for a mortgage makes your stomach drop then you’re not alone. Most first-time buyers worry they’ll hear “no” before they even try.

But here’s the truth: approval isn’t all-or-nothing. There are options. There are solutions. And there’s usually a way forward.

Common worries amongst prospective first-time homebuyers:

• “My income isn’t stable enough.”

• “I’m coming off mat leave.”

• “My credit isn’t perfect.”

• “I don’t have a huge down payment.”

• “I have student loans.”

Good news: none of these automatically disqualify you.

Lenders look at the full picture: income, credit, debt, savings, goals.

If one area is weaker, we adjust the others. Some examples:

• Using a co-signer

• Paying off key debt

• Flexible lenders

• Government programs + first-time buyer perks

Small changes can turn a “not yet” into a “yes.”

Quick question: What’s a mortgage lender?

A “lender” is just whoever gives you the money to buy a home.

There are 3 main kinds in Canada:

1. 1. ‘A’ Lenders (Big Banks & Credit Unions)

The big names you already know. Good rates. Stricter rules.

Best for: Borrowers with strong income, solid credit and low debt

Pro: Great Rates

Con: Stricter rules for approval

2.  ‘B’ lenders (Alternative Lenders)

Offers mortgages to people outside traditional guidelines

Great for: new-to-credit borrowers, self-employed persons, past credit issues, higher debt loads

Pro: way more flexible approval

Con: slightly higher rates (sometimes) and fees

3. Private Lenders

Individuals lending their own money

Best for: tougher credit situations, short-term financing, unique properties

Pro: fast approvals, flexible

Con: higher rates, shorter terms

Why this matters:

Working with a mortgage broker means you get access to all of them, not just one. More choices = a better chance of getting approved.

The best first step? Pre-approval.

It gives you:

✔ What you can afford

✔ Where you stand today

✔ A roadmap if you need time to get ready

No guessing. No surprises.

What if you can’t get approved right now?

Sometimes the answer isn’t no — it’s just not yet.

And that’s okay. Here’s what we do next:

Review your full financial picture

We look at what’s helping or hurting your approval today.

Create a step-by-step game plan

Clear actions you can take — things like improving credit, paying down a specific debt, or building savings.

 Set a realistic timeline

30 days? 6 months? A year? We’ll map it out.

Check in along the way

I’ll guide you — not disappear until you come back.

Re-apply with confidence

When you’re ready, you’ll know exactly what to expect.

Bottom line:

A pause isn’t a failure.

If your homebuyer journey takes time — you’ll have me walking through it with you.

Let’s make this way less scary

My job isn’t to judge your situation — it’s to help you build a strategy that works.

Even if buying feels far away, let’s talk.

Today’s fear can turn into tomorrow’s keys.

📩 Message me anytime to get started.

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.

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)

jaderegier@outlook.com