Home Purchase Mortgages
Saskatoon, Warman, Martensville & Saskatchewan Mortgages
Home Purchase Mortgages Made Easy!
We specialize in Home Purchase Mortgages in Saskatoon, Warman, Regina and across Saskatchewan
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Ready to Buy Your Dream Home? Let Me Find the Perfect Mortgage for You!
As a professional mortgage broker in Saskatoon, Saskatchewan I understand that purchasing a home is one of the most significant financial decisions you'll ever make. Navigating the world of home purchase mortgages can feel overwhelming, but that’s where I come in. Whether you're a first-time buyer or looking to upgrade, I’ll guide you through the entire mortgage process, helping you secure the best rates and terms tailored to your unique financial situation.
From choosing between fixed or variable rates to understanding down payment requirements, I’ll ensure you’re fully informed and confident in every decision you make.
In the very competitive Saskatchewan housing market, timing and preparation are everything. That’s why I focus on helping you get pre-approved, so you can make offers quickly and with confidence. Beyond the mortgage itself, I’ll also assist you in budgeting for additional costs like closing fees, inspections, and property taxes, so there are no surprises along the way. With my expertise, you’ll be positioned to secure the right mortgage and turn your dream of homeownership into a reality, all while feeling supported every step of the way.
Inquire TodayAnswers to Your Questions...
What’s the difference between a fixed-rate and a variable-rate mortgage?
A fixed-rate mortgage offers you the security of having the same interest rate throughout the entire term of your loan, which means your monthly payments will remain consistent. This is ideal if you prefer stability and predictability in your budgeting. On the other hand, a variable-rate mortgage has an interest rate that fluctuates based on the prime rate. While your payments may increase or decrease over time, a variable rate can offer lower initial rates and potential savings if rates drop. As your mortgage broker, I can help you assess your financial goals and risk tolerance to determine which option suits you best.
How much of a down payment do I need to buy a home in Saskatchewan?
In Saskatchewan (as in the rest of Canada), the minimum down payment requirements are generally set at the federal level. Here’s how it typically breaks down:
- Homes Under $500,000
- Minimum down payment: 5% of the purchase price.
- Example: If the home costs $400,000, you need at least $20,000 as a down payment.
- Homes $500,000 to $999,999
- Minimum down payment: 5% on the first $500,000, then 10% on the remaining amount.
- Example: If the home costs $600,000, you need 5% of $500,000 ($25,000) plus 10% of the remaining $100,000 ($10,000), for a total down payment of $35,000.
- Homes $1 Million or More
- Minimum down payment: 20% of the purchase price.
- Investment Properties or Non-Owner-Occupied Homes
- Often require a larger down payment, typically 20% or more.
Keep in mind:
- If your down payment is less than 20%, you’ll be required to pay for mortgage default insurance (often called CMHC insurance).
- Lenders will also look at your credit score, debt-to-income ratio, and employment history when deciding on final approval.
This is a general guideline—specific mortgage lenders or mortgage insurers may have slightly different rules or conditions. Always check with a mortgage professional for advice tailored to your unique situation.
What other costs should I be prepared for when buying a home?
In addition to your down payment, there are several other costs to consider when purchasing a home in Saskatchewan. These include closing costs such as legal fees, home inspections, and property transfer taxes. It's also important to budget for moving expenses, utility setup, and any immediate renovations or repairs. As your mortgage broker, I can help you create a full financial picture of what to expect so that you’re well-prepared and avoid any surprises. Planning ahead ensures that you’re confident throughout the home buying process.
My Saskatoon & Saskatchewan Ecstatic Client Testimonials
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Excellent customer service, great product knowledge, easy to talk to-Lisa is a professional who enjoys her work and cares for her clients!
Trevor and Debbie
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Lisa's kindness, professionalism and hard work made our purchase stress free. Thanks for everything and we cannot say how grateful we are as new residents to Saskatoon for all the help you have pro...
David and Mary
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I have the opportunity to work with Lisa on a couple of occasions. She is professional and proficient in her job. I've appreciated her willingness to go above and beyond and explain all options av...
Bonnie C - Saskatoon
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Lisa has a very strong, clear knowledge in her field. I've worked with several others in the past, and Lisa has trumped them all. She has answered all my questions, made me feel very comfortable an...
Fraser Hiebert
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Lisa was amazing and really went the extra mile for us when we got our first mortgage, we could not recommend her more!
Chad magee
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