Equity Building Program

If you’re currently renting in Saskatoon and you haven’t been able to save enough for a down payment, buying a home can seem like an unreachable goal. Luckily, you might be closer to home ownership than you think!

Through the Equity Building Program, we’re helping you step into home ownership by lending you the 5% you need for a down payment on a house within your budget in any area of Saskatoon.

Ready to stop renting and start owning?

  • Purchase a home anywhere in Saskatoon.
  • Receive a down payment loan of 5%.
  • Pay off the down payment loan in 5 years, or if your circumstances change, pay it off early with no penalty.

What you need to get started

  • Currently renting in Saskatoon for a minimum of 6 months.
  • Have not owned a property in the past 5 years.
  • Earn an annual household income of less than $84,000.
  • Qualify for a mortgage under our guidelines and the Canada Mortgage and Housing Corporation (CMHC) or Genworth.
  • We take care of the application process so there’s no additional paperwork for you.
Young couple painting room

Buying a house is a big life decision and we want to make it easier. If you aren’t sure if buying a home makes sense for you right now, check out our advice article Buy or rent – it’s your choice. Or, if you’re ready to buy but aren’t sure where to start, read our Steps to buying your home article for some great tips.

If this sounds like the perfect opportunity for you, get in touch with one of our Mobile Mortgage Specialists at 1.866.863.6237 or visit an advice centre for more information.

Looking to learn more? Find it here:

  • Is there a price maximum for the home I want to purchase?

  • Do I apply for the Equity Building Program at the same time as my mortgage?

  • Should I have a house in mind to purchase before I apply for my mortgage and the Equity Building Program?

  • How much can I afford?

  • What happens if I find a house but don’t end up qualifying for the Equity Building Program? Are there other options?

  • Can this down payment be combine with another down payment option? Ex. A gift, or combined with personal savings, etc.

  • Is it considered renting if I live with my family?