Welcome to KANETIX! We offer a one-of-a-kind service in Canada where you can browse, and secure mortgage rates in the province of Saskatchewan, from the comfort of your own home. Our free mortgage rate comparison tool gives you access to some of the most competitive Canadian mortgage rates right at your fingertips. You have the freedom to browse offers from the top brokers and lenders in Saskatchewan to find the best mortgage rate. If you decide that you are interested in a particular rate, our service enables you to secure the rate and receive a rate guarantee certificate with all of the details. We are Canada's only online one-stop shop for your entire mortgage product needs.

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KANETIX has partnered with a variety of mortgage brokers to give residents of Saskatchewan the low mortgage rate they've been searching for! Compare the best mortgage rates in your province today.

KANETIX offers open mortgages, closed mortgages, fixed rate mortgages and variable rate mortgages. All mortgage quotes are free, fast and secure! You can filter your results by amortization period, term, rate type and payment type while browsing through the selection of both bank lender and broker loans.

Looking for the perfect mortgage calculator? Our Saskatchewan mortgage calculator is specifically designed to help you with the home purchase, as well as refinance decision-making process. Using our calculator will provide you the insights about how certain factors such as the amortization period and payment frequency could affect your mortgage payment. It can also help you save by showing you the amount of interest saved throughout the life of your mortgage when choosing accelerated payment frequencies (i.e. rapid bi-weekly). Use our calculator to experiment and find out which Saskatchewan mortgage product is right for you.

Read more about Saskatchewan mortgages >>

The process of finding the best mortgage rate in Saskatchewan

Choosing the right mortgage is often perceived as a daunting task as most people are overwhelmed by the dozens of different mortgage products available by various lenders and brokers. However, shopping around for the best mortgage is very important as the number of mortgage product options increases. Don't fret; our mortgage comparison tool is here to save you time, stress, and money! You will soon discover that the once painful task of shopping around for a mortgage is available at KANETIX with a fast, intuitive and rewarding experience. Through our broker partnerships, we are able to offer special discounted rates, to make sure you start your journey to home ownership on a positive note.

We've worked hard to create meaningful partnerships with some of the best brokers in Saskatchewan; that allows us to feature great mortgage rates to our customers. These partnerships have put us in touch with experienced mortgage agents who will be available to you when you are ready to secure your rate. When you find your best rate using our comparison service tool, go through our simple application process or give us a call to speak with one of our partnered mortgage agents.

Kanetix is also a useful information resource for Saskatchewan residents who want to expand and update their knowledge on mortgage related topics. Our mortgage information centre provides mortgage news, updates and tips for customers who like to learn and keep informed. If you feel the need to brush up on your financial vocabulary, we have an extensive mortgage glossary with a vast collection of financial terms.

Information about Saskatchewan Mortgages

With its mix of culture and natural beauty, it is no surprise that owning a home in Saskatchewan would make many Canadians very happy. Homes in Saskatchewan, like most other provinces in Canada, tend to appreciate in value over time and most often require a mortgage to finance the purchase. The reason for obtaining a mortgage is to cover the difference between the property value and the amount of your down payment. You can also take out additional equity out of your home to pay off debts or do some renovations. See our article: Information For First Time Home Buyers In Canada: A Guide, Tips to pay off your mortgage sooner and New mortgage rules for Canada's housing market.

A mortgage rate is the interest rate charged on a mortgage loan. For each mortgage payment that you make, part of it goes to cover the mortgage principal to reduce your balance, while the rest is applied toward the accumulating interest.

The Kanetix advantage

  • Quick quotes from a secure and user friendly comparison tool
  • Variety of mortgage lenders and brokers to choose from
  • Friendly mortgage agents ready to guide you along the approval process
  • The best mortgage rates in Saskatchewan
  • It's safe, efficient and completely free!
  • Go from securing a rate to securing a mortgage online in a few simple steps

Mortgage loans in Saskatchewan

There are a few important factors to consider, aside from low interest rates, when looking for your ideal mortgage:

  • Rate hold period- This is the period over which you are guaranteed your mortgage rate by your lender. Generally speaking, a longer rate hold period is perceived as more beneficial due to the fact that it provides longer protection from rate increases.
  • Amortization period- The length of the period is usually chosen depending on your own personal circumstances. The amortization period will outline the period of time over which the mortgage loan will be repaid. Amortization periods options can vary across different lenders.
  • Pre-payment limitations (for closed mortgages)- Closed mortgages give you the flexibility to increase monthly payments by a certain percentage or make lump sum payments up to a capped percentage of the total mortgage amount. As the percentages of the pre-payment limitations increase, so does your flexibility.

Other occurrences affecting the lowest mortgage in Saskatchewan

While using our mortgage comparison tool, you will notice that the quoted rates will vary among various brokers and lenders, as well as mortgage products. Certain lenders take additional factors into account when setting rates that are worth knowing about.

  • Credit score- Your credit score might affect the mortgage rate, depending on the lender. For instance, a lender might offer a higher rate to someone with a poor credit history.
  • Mortgage timing- Sometimes lenders will offer discounts to customers based on obtaining a mortgage within a certain time period (within 30 days, etc.)

Knowledge about factors that influence your best rate possible (this sentence doesn't make sense). With that said, it is equally important to be completely transparent and honest with the information provided to the lenders to guarantee a successful approval process.

Fixed, Variable, Closed and Open Mortgages- What type do you need?

When buying a home you are faced with the option of a fixed rate or variable rate mortgage. A variable mortgage rate will fluctuate with the prime-lending rate throughout the duration of the mortgage term. Alternatively, a fixed mortgage rate will stay constant for the duration of your mortgage term. Your choice between the two will most likely depend on the current level of mortgage rates, your appetite for risk and the changes in mortgage rates that are expected to occur.

The other option you are faced with is to choose between an open or a closed mortgage. In an open mortgage, you are free to make lump sum payments and increase your monthly payments with no limit. Fortunately, you can still retain some of this flexibility with a closed mortgage. However, monthly payment increases are restricted to a percentage maximum and lump sum payments are restricted by a percentage of your mortgage amount in a giver year. If you surpass the maximum percentages in a closed mortgage, you are likely to incur penalties. The choice between an open or a closed mortgage will depend on your cash flow and repayment plans. An open mortgage is generally acquired when the customer is certain about pre-payment instances and is planning to make future prepayments beyond the allowable limits in a closed mortgage.

Conventional and High Ratio Mortgages in Saskatchewan

The difference between high ratio and conventional mortgages in Saskatchewan is dictated solely by the amount of your down payment. If your down payment is less than 20 percent of the total property value, you will be required to go with a high ratio mortgage. A high ratio mortgage would require you to get mortgage default insurance to protect the lender from borrowers default and is usually acquired at 1.75 - 2.75 percent of the mortgage amount.

Mortgage Brokers in Saskatchewan

Kanetix developed partnerships with Saskatchewan's top mortgage brokers.  As a result, when you're ready to follow through on one of our offered rates, our partners' accredited mortgage agents are ready on standby to meet all of your mortgage product needs and answer any questions you may have. Our partnered mortgage brokers will help put your mind at ease and relieve the unnecessary stress that can come with the home-buying process.

In addition, the KANETIX mortgage comparison service can be used in Ontario, New Brunswick, Manitoba, Nova Scotia, Prince Edward Island, Newfoundland and Alberta.

Looking for Regina mortgage rates or perhaps a Saskatoon mortgage rate? Compare, find and lock-in your best Saskatchewan mortgage rate today!

Province of Saskatchewan General Information

  • Population (2011): 1.03 million (3.07per cent of Canada)
  • Population Makeup (2006): 95 per cent Canadian born; 5 per cent foreign born
  • Average annual population growth (2001 - 2011): 1.62 per cent
  • Projected population growth: 20 per cent, or almost 256,000 over the next 25 years
  • Median family income (2010): $ 72,650
  • GDP (August 2012): $75 billion (4.2 per cent of Canada)
  • Unemployment rate (August 2012): 5.0 per cent
  • CPI Inflation (August 2012): 2.8 per cen

Sources: Stats Canada .

Province of Saskatchewan Real Estate Market

  • Housing starts (2011): 7,031
    • Year-over-year change: 19.0 per cent
  • Average Residential resale price (Q4 2012 YTD): $274,268
    • Year-over-year change: 5.7 per cent

Sources: CMHC

This summary is for informational purposes only and should not be relied upon without verification by contacting a mortgage professional.

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Kanetix Mortgage App

Buying a home? The KANETIX Mortgage App helps you tally the numbers that count when it comes to home ownership.
  • Affordability calculator: work out how much of a mortgage you can carry.
  • Mortgage calculator: easily calculate your mortgage payments.
  • Mortgage rates: compare and call to secure fixed and variable mortgage rates.

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