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
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your RRSP tax-free.
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