Manitoba Mortgages
Manitoba Rates
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Term | Lowest Fixed Rate | Lowest Variable Rate | ||
1-Year | ![]() |
3.09% | ||
3-Year | ![]() |
3.69% | ![]() |
2.05% |
5-Year | ![]() |
3.94% | ![]() |
1.90% |
10-Year | ![]() |
4.33% |
Manitoba has a land transfer tax based on the purchase price of the home and the following marginal tax rates:
Purchase Price of Home | Marginal Tax Rate |
First $30,000 | 0.0% |
$30,000 to $90,000 | 0.5% |
$90,000 to $150,000 | 1.0% |
$150,000 to $200,000 | 1.5% |
Over $200,000 | 2.0% |
Mortgage default insurance or CMHC insurance is required in Canada for down payments of less than 20%.
Down payment (% of home) | ||||
5%-9.99% | 10%-14.99% | 15-19.99% | 20% or higher | |
CMHC insurance premium | 2.75% | 2.00% | 1.75% | 0.00% |
Additional criteria as of July 9th, 2012:
- The maximum amortization available on an insured mortgage (less than 20% down) is 25 years.
- Homes sold for more than $1,000,000 do not qualify for CMHC insurance and, therefore, require a down payment of at least 20%.
Manitoba Mortgage Calculators
Manitoba First Time Home Buyer Freebies
-
First time home buyer Tax Credit Get $750 dollars back on your personal tax return.
Learn more -
RRSP Home buyers Plan Access up to $25,000 from
Learn more
your RRSP tax-free.
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