SASKATOON -- The phone calls and emails are pouring in according to Saskatoon mortgage associate Chris Kolinski.

He says many are asking about options for payment deferrals.

"Some of the questions that I'm asking have you lost your job because of COVID-19? Or did your child care close and now you have to be at home with your kids?”

According to the Canadian Bankers Association, there are over 100,000 residential mortgages in the province.

Kolinski says lenders are evaluating deferral requests on a case-by-case basis.

"Some lenders are asking questions like how much money do you have in your savings? Do you have a line of credit that might be able to help you out with these mortgage payments? Or is there another source of income that you have coming in?”

A number of major banks say customers may qualify for various options, but a 6-month deferral isn't always necessary.

RBC says some may want to go from bi-weekly to monthly payments. Or choose to skip just one or two payments until they have a better understanding of what the future holds.

However, a mortgage deferral, whether it's for one month or six, is not a mortgage vacation, meaning you will have to pay it back. And it could incur interest or fees.

And the ability to defer payments could hinge on things like whether it's your principal residence or a rental property.

"The lender is going to look at you know, if you are still receiving rental income you know, that’s going to help out with making that mortgage payment. Some lenders are not allowing you to defer the payment on that rental property anyways.”

Kolinski suggests if you are going to miss a payment, to call your lender to avoid hurting your credit profile.

"If you don't go through the right channels and defer that mortgage payment property and you just skip your payment by not paying it, That's when it's going to have a big impact on your credit score.”