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Manitoba Mortgage Payment Calculator

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Manitoba mortgage guide

Manitoba mortgage calculator

If you're in the process of getting a mortgage in Canada, a mortgage calculator is one of the best tools you have available. However, it needs to be tailored to your province. If you're specifically searching for a mortgage in Manitoba, you'll need to make sure your mortgage calculator factors in both federal mortgage regulations that apply across the country as well as rules, fees and levies specific to Manitoba.

Ratehub.ca’s Manitoba mortgage calculator takes all of these factors into account automatically. Read on for a summary of the mortgage regulations that will be considered when you use this helpful tool.

Canada-wide taxes, fees, and regulations

The regulations for mortgage lending in Canada are set by the federal finance minister. These regulations aim to protect home owners and lenders by setting requirements on minimum down payments, maximum amortization periods, and buying mortgage default insurance (also called CMHC insurance). Ratehub.ca’s Manitoba mortgage calculator automatically uses the following guidelines in its calculations:

  • Minimum down payments: For homes valued less than $1 million, minimum down payments are 5% of the first $500,000, then 10% of any value between $500,000 and $1 million. For homes valued over $1 million, a flat 20% minimum down payment is required.
  • Amortization Period: Canada sets a 25-year maximum amortization periods for mortgages with down payments of less than 20%, and 35-year maximum amortization periods for other mortgages.
  • Mortgage default insurance: Also called CMHC insurance, mortgage default insurance must be purchased for down payments of less than 20%. Visit Ratehub.ca’s CMHC insurance page for more details.

Manitoba mortgage taxes, regulations, and fees

Looking specifically at Manitoba, home buyers must be aware of Manitoba’s land transfer taxes and its mortgage rates.

Manitoba’s mortgage rates

Lenders and brokers often charge different mortgage rates in different parts of the country. Ratehub.ca’s Manitoba mortgage calculator presents the lowest mortgage rates specific to Manitoba at the time of your search. These mortgage rates can also be found on the Manitoba mortgage rates page .

By population, Manitoba is the fourth largest province in Canada, after Ontario, Quebec, British Columbia and Alberta. This results in relatively high levels of competition between mortgage lenders, which typically results in lower mortgages rates for you. 

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. These rates are listed in the table below.

Purchase price of home Marginal tax rate First-time home buyer rebate
First $30,000 0.0% There is no land transfer tax rebate in Manitoba.
$30,001 - $90,000 0.5%
$90,001 - $150,000 1.0%
$150,001 - $200,000 1.5%
Over $200,000 2.0%

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 .

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