Found 1 blog entry tagged as first-time home buyer incentive Martensville.

Young couple standing on the front walkway of their first Martensville starter home on a bright spring morning with keys in hand

Martensville is one of the most popular first-time buyer markets in Saskatchewan. Home prices are more attainable than most of Saskatoon, new construction is active, and the city has strong schools, a swimming pool and parks aimed at young families.

How Much Do You Need to Buy Your First Home in Martensville?

Most first-time buyer homes in Martensville fall between $325,000 and $525,000. Here is what that means in practice:

  • Minimum down payment: 5% on the first $500,000 of purchase price, 10% on the portion above $500,000 up to the CMHC insurance limit.
  • On a $425,000 home: that is $21,250 minimum down.
  • Default mortgage insurance: required on down payments under 20%, added to your mortgage balance.
  • Closing costs: budget 1.5% to 2%…

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