Manitoba Mortgage Calculator
Our mortgage calculator contains Manitoba current mortgage rates, so you can determine your monthly payments. Our calculator also includes mortgage default insurance (CMHC insurance), land transfer tax and property taxes.
Manitoba mortgage calculator
Ratehub’s Manitoba mortgage calculator takes into account all taxes and regulations required to calculate your monthly payments and mortgage amounts. While most regulations are the same Canada-wide, there are taxes and fees specific to Manitoba.
Canada-wide taxes, fees, and regulations
The regulations for mortgage lending in Canada are set by finance minister Jim Flaherty. These regulations help to protect home owners and lenders by setting requirements on minimum down payments, maximum amortization periods, and buying mortgage default insurance or CMHC insurance. Ratehub’s Manitoba mortgage calculator automatically uses the following guidelines in its calculations:
- 5% minimum down payment for homes valued under $1,000,000 or 20% minimum down payment otherwise.
- 25 year maximum amortization periods for down payments less than 20% or 35 maximum amortization periods otherwise.
- Mortgage default insurance or CMHC insurance must be purchased for down payments between 5% and less than 20%. Visit RateHub’s CMHC insurance page for more details.
Taxes, regulations, and fees in Manitoba
Looking specifically at Manitoba, home buyers must be aware of Manitoba’s land transfer taxes and Manitoba mortgage rates.
Manitoba’s mortgage rates
Lenders and brokers often charge different mortgage rates in different parts of the country. Ratehub’s Manitoba mortgage calculator presents the lowest mortgage rates specific to Manitoba. These mortgage rates can also be found on the Manitoba mortgage rates page .
Taxes and fees in Manitoba
Manitoba charges a land transfer tax that varies from 0% to 2.0%, depending on the value of the property purchased. This tax is calculated as a percent of the home’s value estimated using its selling price. In addition, there is a $70 registration fee for the land transfer tax. For more information on tax rates and regulations, see our Manitoba land transfer tax page .