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Graduate Retention Program - First Home Plan

Through the First Home Plan, individuals in the Graduate Retention Program (GRP) may be eligible for an interest-free loan of up to $10,000 to use towards the down payment on the first home they purchase in Saskatchewan.

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1. Benefits

Eligible individuals may receive an interest-free loan for up to $10,000, depending on the amount of GRP tax credits they have available.

Individuals pay back this loan based on the amount of GRP tax credits allowed each year.

Program  Maximum GRP Tax Credits   
Maximum First Home Plan Amount
1 year certificate, diploma, or journeypersons  $ 3,000
 $ 3,000
2 or 3 year certificate or diploma  $ 6,400
 $ 6,400
3 year undergraduate degree
 $15,000  $10,000
4 year undergraduate degree  $20,000  $10,000
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2. Eligibility

Individuals are eligible for the First Home Plan if they:

  • are (or will be) a resident of Saskatchewan;
  • have GRP tax credits available;
  • are a first-time homebuyer; and
  • purchase a single-family house, semi-detached house, townhouse, mobile home, or condominium unit as their primary residence in Saskatchewan.
Individuals must receive First Home Plan loan approval before taking possession of their first home.
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3. How to Apply

In order to apply to the First Home Plan you must:

  1. Download the Graduate Retention Program - First Home Plan Application Form.
  2. Complete the Application Form.
  3. Email or mail the application form and required documents to: 

Saskatchewan Housing Corporation
11th Floor, 1920 Broad Street
REGINA SK  S4P 3V6

Email -GraduateRetentionProgramFirstHomePlan@gov.sk.ca

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5. Further Information

  • Individuals receiving the First Home Plan loan are not eligible to claim the Saskatchewan First-Time Homebuyer’s Tax Credit.
  • Two or more individuals may combine their First Home Plan loans to put towards the down payment of one home.
  • Individuals will continue to claim their GRP tax credits through the Canada Revenue Agency.
  • Individuals may be eligible for other home owner programs. Contact Saskatchewan Housing Corporation (SHC) for more information.

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