For an average Saskatoon home (about $400,000), the minimum down payment is roughly $20,000, or $80,000 to put 20% down and skip mortgage insurance.
The minimum down payment for an average Saskatoon home ($400,000) is about $20,000 in 2026 — 5% on the first $500,000 and 10% on the portion above. Putting 20% down ($80,000) avoids CMHC insurance. Illustrative, not advice.
| Scenario | Down payment |
|---|---|
| Minimum (insured) | $20,000 (5.0%) |
| 10% down | $40,000 |
| 20% down (no insurance) | $80,000 |
Under 20%% down you also pay CMHC mortgage-default insurance (about 4.00%% of the mortgage at 5%% down). Learn more on the CMHC insurance calculator and down payment guide.
A prairie market with steady prices and strong affordability relative to national averages. Remember the down payment is only part of the upfront cost — budget for land transfer tax and legal fees too. See land transfer tax by province.
About $20,000 on an average Saskatoon home — 5% on the first $500k, 10% above (illustrative).
No — you can buy with as little as 5%%, but under 20%% you pay CMHC mortgage-default insurance.