The City of Saskatoon is a partner in three different housing programs that have been created to make purchasing a home more attainable. The Mortgage Flexibilities Support Program, Pleasant Hill Village and the Equity Building Program are designed to assist homebuyers in the affordable housing market by providing down payment grants or loans. The three programs assist families in several stages of affordable housing and differ in their application requirements and financial incentives. Detailed information for all three programs, including instructions on how to apply, is available below. For those interested in renting, the contact information for affordable rental housing providers in Saskatoon is also available.
Mortgage Flexibilities Support Program
The City of Saskatoon, Canada Mortgage and Housing Corporation (CMHC) and the Saskatchewan Housing Corporation have created the Mortgage Flexibilities Support Program to increase affordable homeownership opportunities in Saskatoon. Click here for the program brochure.
With a 5% down payment grant from the City of Saskatoon and mortgage loan insurance from CMHC or Genworth Financial, qualified homebuyers will have the means to finance the purchase of a new home.
Private home builders provide new units that can be sold at prices that households with incomes below the Maximum Income Limits can afford.
Total household income of the buyer must meet the provincial Maximum Income Limits:
Singles and Couples - $59,000
Households with Dependents - $66,500
Only homes in designated projects qualify for this program.
Click here for frequently asked questions about the Mortgage Flexibilities Support Program.
Jastek Group of Companies: Ginger Lofts (1015 Patrick Crescent) - Located in the Willowgrove Neighbourhood, Ginger Lofts offers attractive, spacious 2 bedroom townhouse units. Eligible buyers earning less than the Maximum Income Limits receive 5% down payment assistance. Show suite and sales centre to open in April 2012. Visit www.jastek.com/projects/now-selling/ginger-lofts/ for more information or call 291-3111.
Innovative Residential: T(306) own Square Villas (115 Dalgliesh Link). Located in Evergreen, the Town Square Villas community offers 2 and 3 bedroom units. Units are between 760 sq. ft. and 1254 sq. ft. Eligible buyers earning less than the Maximum Income Limits receive 5% down payment assistance, while buyers over these income limits may be eligible for 3% down payment assistance provided through the National Affordable Housing Corporation. Buyers may also be eligible to receive 8 year property tax or mortgage support. Visit www.innovativeresidential.ca/community.html or call (306) 270-5032 to apply.
Innovative Residential: Poplar Grove (1303 Richardson Road). Located in Hampton Village, the Poplar Grove community offers 2 and 3 bedroom units. Units are between 760 sq. ft. and 1254 sq. ft. Eligible buyers earning less than the Maximum Income Limits receive 5% down payment assistance, while buyers over these income limits may be eligible for 3% down payment assistance provided through the National Affordable Housing Corporation. Buyers may also be eligible to receive 8 year property tax or mortgage support. Barrier-free and Barrier-Free Plus units are also available in this community. Visit www.innovativeresidential.ca/community.html or call (306) 270-5032 to apply.
SOLD OUT - New Rock Developments: Stonebridge Villas (125 Willis Crescent) - Located in the Stonebridge Neighbourhood, Stonebridge Villas offers affordable 2 and 3 bedroom units with a variety of floorplans and layouts. Eligible buyers earning less than the Maximum Income Limits receive 5% down payment assistance plus an additional $25,000 in down payment assistance and $45,840 in Monthly Payment Assistance over 12 years from the Developer. Buyers over these income limits may also be eligible for Down Payment Assistance and Monthly Payment Assistance through the CCL Mortgage Assistance Plan offered through New Rock Developments.
Visit www.stonebridgevillas.ca or call (306) 974-1501 - SOLD OUT
Steps for Interested Homebuyers
- Interested homebuyers contact the builders of designated projects and arrange to view the show homes.
Homebuyers apply for mortgage pre-approval with the lender (bank, credit union or mortgage broker) of their choice.
The City of Saskatoon screens the homebuyer's income and provides homeownership training.
The City approves a down payment grant once steps 1 to 3 are complete
The homebuyer obtains final mortgage approval.
The homebuyer’s lawyer completes the purchase.
Pleasant Hill Village
Pleasant Hill Village has undergone an amazing transformation to become an inviting, safe and welcoming community for families. Developed by both the City of Saskatoon and Greater Saskatoon Catholic School Division, the plan for Pleasant Hill Village includes the new St. Mary’s Education and Wellness Centre. This will be Saskatoon’s newest and largest Catholic elementary school complete with a walking track that will be open to the public.
The new homes are affordably priced from $189,922 to $241,034 (price is non-negotiable) and the City of Saskatoon is now offering a NEW special 9.99% cash grant towards the purchase of a condominium in Parkview Green or Pleasant Hill Solar Village. This special grant amounts to a savings of between $18,931 and $24,037 that will never have to be paid back. There is no income limit or conditions required to qualify for this grant, and it may be used towards your down payment or to buy new appliances for your home, it is up to you!
In addition, to make home ownership even more affordable, you will receive property tax discounts for 5 years, as follows:
Year 1 – 100%
Year 2 – 80%
Year 3 – 60%
Year 4 – 40%
Year 5 – 20%
To view the available units and learn more about this amazing home-ownership opportunity, please contact:
Kimberlee Matheson (306) 717-1663
Jennifer Allen (306) 241-2229
The Equity Building Program assists households with incomes up to $80,000 with the purchase of an entry level home. Eligible households receive a down payment loan for 5% of the purchase price which must be re-paid over a five year period. Homebuyers must be currently renting in Saskatoon and can purchase any home in the city.
The Equity Building Program is offered in partnership with Affinity Credit Union. For more information on the Equity Building Program please contact Affinity Credit Union at (306) 934-4000 or 1-866-863-6237