Helping Temporary Residents Own a Home in Saskatchewan
Bradley understands that buying a home in Canada as a temporary resident — whether on a work permit, visitor visa, or study permit — can be complex due to federal and provincial regulations. Bradley is here to walk you through your mortgage options, help you overcome restrictions, and achieve your financial goals safely and efficiently.
Overview of Options for Temporary Residents
As a temporary resident in Saskatchewan, you may still be able to purchase a home and obtain a mortgage, but you must comply with strict regulations from the Canadian government, particularly the Prohibition on the Purchase of Residential Property by Non-Canadians Act (in effect until 2027). Bradley will help assess your personal eligibility, connect you with the right lenders, and prepare your application to maximize approval chances.
Work Permit Holders
With a valid work permit (at least 183 days remaining at the time of purchase), you may be eligible to buy a home if:
- You have not previously purchased a residential property in Canada (this must be your first property)
Benefits and Mortgage Options
Some major banks such as TD or RBC offer mortgages to work permit holders, with down payments ranging from 10-35% depending on your credit profile. Bradley will help build your mortgage application, including proof of income from employment and business (if applicable), to improve your chances of approval.
Visitor Visa Holders
With a visitor visa, you typically do not qualify to purchase a home or obtain a mortgage, as you lack the right to work or study formally, making it difficult to demonstrate stable income. However, if you transition to a work or study permit, the regulations above may apply.
Study Permit Holders
If you are studying full-time at a designated institution in Saskatchewan (such as the University of Saskatchewan or Saskatchewan Polytechnic), you may qualify to purchase a home with the following requirements:
- You have filed income tax returns for the full 5 years prior to the year of purchase
- You are studying full-time and your permit is still valid
- The home price does not exceed $500,000
- You have not previously purchased any other property in Canada
Benefits and Mortgage Options
Bradley can help arrange a mortgage with a minimum down payment of 5-10%, though interest rates may be higher due to risk factors. You will not qualify for CMHC mortgage insurance if your down payment is less than 20%, so a larger capital reserve is recommended.
Bradley’s Support Services
Bradley will assess your immigration status, compare mortgage packages from multiple lenders, and help prepare your application to maximize approval chances. Whether you’re buying your first home or making an investment, Bradley is committed to transparency and focused on your long-term benefit.
Ready to explore your options? Contact Bradley today to discuss your specific situation and build a mortgage plan that works for you.