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Estimate your mortgage payment, CMHC insurance and Manitoba land transfer tax, starting from the Winnipeg benchmark of $392,900. Manitoba has no first-time buyer exemption from land transfer tax, so this page also covers the federal programs first-time buyers can use and the Homeowners Affordability Tax Credit.
Benchmark prices August 2026 · Rules checked October 16, 2026
Mortgage calculator for Manitoba
It opens on the Winnipeg benchmark price of $392,900 (August 2026). Pick another Manitoba market or type your own price, then set your down payment, rate and amortization. The rate starts at 4.5%, our rounded assumption from Bank of Canada data, not a quote.
$1,739.68monthly mortgage payment
Down payment
$78,580 (20.0%)
CMHC insurance premiumNot needed with 20% or more down
$0
Mortgage amount
$314,320
Cash you need on closing day
Down payment
$78,580
Manitoba land transfer tax
$5,508
Total cash to close
$84,088
Manitoba has no first-time buyer rebate on its land transfer tax. See the programs below for the help that does apply.
CMHC says closing costs usually run 1.5% to 4% of the price: $5,894 to $15,716 on this home.
Prices: CREA MLS® Home Price Index, composite benchmark, August 2026. Payments use semi-annual compounding, as Canadian fixed-rate mortgages do. CMHC premiums and the minimum down payment follow CMHC’s published rules. Your own estimates stay in your browser.
Manitoba at a glance
CREA MLS® Home Price Index composite benchmark for Winnipeg, August 2026, not seasonally adjusted.
A typical home in the market, not an average sale price.
Before any first-time buyer relief.
Manitoba has no first-time buyer rebate on its land transfer tax.
See the first-time buyer programs below for the help that does apply.
5.0% of the benchmark price: 5% of the first $500,000 and 10% of the rest.
With 20% down it’s $78,580.
At 4.5% over 25 years, our default rate assumption, with semi-annual compounding.
CMHC lists only Ontario, Quebec and Saskatchewan as taxing the premium.
FIRST-TIME BUYERS
First-time buyer programs in Manitoba
Manitoba’s land transfer tax page lists no first-time buyer exemption, so first-time buyers pay the same tax as everyone else: $5,508 on the $392,900 Winnipeg benchmark. Once you own, the Homeowners Affordability Tax Credit reduces the school taxes on your principal residence every year.
Provincial
Homeowners Affordability Tax Credit
Up to $1,600off the school taxes on your home for 2026
WHO QUALIFIES Owners of a principal residence in Manitoba, including condo owners whose units are individually assessed. Not a first-time buyer program, but it applies from your first year as an owner.
For 2026 it’s the lesser of $1,600 and the gross school taxes on your principal residence; it rises to $1,700 for 2027.
From 2027 it’s reduced for homes assessed over $1,000,000.
It replaced the Education Property Tax Credit in 2025.
Federal programs for first-time buyers in Manitoba
These work the same in every province. Many first-time buyers can use several together: the FHSA and the Home Buyers’ Plan for the down payment, the home buyers’ amount at tax time, and the GST rebates on a newly built home.
Federal
First Home Savings Account (FHSA)
$8,000 a year$40,000 lifetime: deductible going in, tax-free coming out
WHO QUALIFIES Canadian residents aged 18 to 71 who haven’t lived in a home they or their spouse owned in the current year or the previous four calendar years.
Contributions are deductible like RRSP contributions, and a qualifying withdrawal to buy your first home is tax-free and never repaid.
Unused room carries forward up to $8,000, so the most room you can have in one year is $16,000. Room only starts once you open the account.
The account has to close by the end of the year of the 15th anniversary of opening it, the year you turn 71, or the year after your first qualifying withdrawal.
$60,000per person from your RRSP, with no tax withheld
WHO QUALIFIES First-time buyers (the same four-year test) with a written agreement to buy or build a qualifying home in Canada that they’ll live in within a year.
You repay it to your RRSP over up to 15 years. For a first withdrawal between January 1, 2026 and December 31, 2028, repayments start in the fifth year after the withdrawal.
Any year you repay less than the minimum, the shortfall is added to your income.
You can use the HBP and an FHSA withdrawal for the same home, and the home must be bought or built before October 1 of the year after your first withdrawal.
Home buyers’ amount (first-time home buyers’ tax credit)
$10,000claimed on line 31270 as a non-refundable federal credit
WHO QUALIFIES First-time buyers (no home owned and lived in by you or your spouse in the year of purchase or the four years before), and buyers eligible for the disability tax credit.
It lowers the federal tax you owe; there’s no refund if you owe no tax.
Two eligible buyers can split it, but not above the $10,000 total for the home.
You must plan to live in the home within one year of buying it.
Up to $50,000all the GST, or the federal part of the HST, on a new home up to $1 million
WHO QUALIFIES First-time buyers 18 or older, citizens or permanent residents, who haven’t lived in a home they or their spouse owned this year or the previous four, buying or building a new home to live in.
Full rebate at $1 million or less, shrinking to nothing at $1.5 million. CRA’s example: a $1.25 million home gets $25,000.
Bought from a builder: the agreement must be signed on or after March 20, 2025 and before 2031, with construction starting before 2031.
It tops up the regular GST/HST new housing rebate, and applies only to newly built or substantially renovated homes.
Manitoba charges land transfer tax on the fair market value on the date the transfer is registered: nothing on the first $30,000, 0.5% to $90,000, 1% to $150,000, 1.5% to $200,000 and 2% above that. On the $392,900 Winnipeg benchmark that’s $5,508; a $400,000 home pays $5,650.
The buyer pays it at registration, together with a separate Land Titles registration fee.
CMHC puts closing costs at 1.5% to 4% of the price. In Manitoba they’re land transfer tax, the registration fees, legal fees, a home inspection, title insurance and adjustments for property tax the seller prepaid.
Manitoba doesn’t charge sales tax on the CMHC premium, so with less than 20% down the whole premium can go on the mortgage.
On the $392,900 Winnipeg benchmark
Cost
Amount
Notes
Land transfer tax
$5,508
Paid at registration
Legal fees and disbursements
Get a quote
Your lawyer also registers the transfer and mortgage
Home inspection
Get a quote
Optional; you can make your offer conditional on one
Title insurance
Get a quote
Optional; often arranged by your lawyer or notary
Property tax and utility adjustments
Varies
Repaying the seller for anything they prepaid past closing
CMHC’s rule of thumb
$5,894 to $15,716
1.5% to 4% of the price for all closing costs together
THE GUIDE
Buying a home in Manitoba: what else to know
Why Manitoba’s tax climbs with the price
Above $200,000, every extra dollar of price is taxed at 2%, so a home that costs $100,000 more pays $2,000 more in land transfer tax. There’s no first-time buyer exemption to offset it, so budget for the full amount in cash. The tax is worked out on the fair market value on the date the transfer is registered.
Down payment rules in Manitoba
The minimum is 5% of the first $500,000 of the price and 10% of the part above. The Winnipeg benchmark is under $500,000, so the minimum there is a flat 5%: $19,645.
With less than 20% down the mortgage must be insured. The CMHC premium is 4.00% of the loan with under 10% down, 3.10% with 10% to 14.99% and 2.80% with 15% to 19.99%, and it’s added to the mortgage.
Using your FHSA and RRSP in Manitoba
Each first-time buyer can withdraw everything in their FHSA tax-free and up to $60,000 from an RRSP under the Home Buyers’ Plan for the same home. FHSA withdrawals are never repaid; the Home Buyers’ Plan goes back into your RRSP over up to 15 years.
The federal $10,000 home buyers’ amount, claimed on line 31270, also lowers your federal tax the year you buy.
Mortgage lenders in Manitoba
The big banks lend across Canada, including in Manitoba. Listed for convenience, not ranked here. See every lender’s current rates on mortgage rates in Canada.
It starts from the Winnipeg benchmark price; type your own price to change it. Set your down payment, rate and a 25 or 30 year amortization. You get the monthly payment, the CMHC premium if you put less than 20% down, Manitoba land transfer tax and the cash you need on closing day.
What is the monthly mortgage payment on a typical Winnipeg home?
On the Winnipeg benchmark of $392,900 (August 2026), with 20% down at 4.5% over 25 years, about $1,740 a month.
How much is land transfer tax in Manitoba?
Nothing on the first $30,000, then 0.5% to $90,000, 1% to $150,000, 1.5% to $200,000 and 2% above. A $400,000 home pays $5,650; the $392,900 Winnipeg benchmark pays $5,508.
How is Manitoba land transfer tax calculated?
Like income tax brackets: each rate applies only to the part of the fair market value inside its band, and the amounts are added up. The table on this page shows the tax in each band for the Winnipeg benchmark.
Is there a first-time buyer land transfer tax rebate in Manitoba?
No. The province’s land transfer tax page lists no first-time buyer exemption. First-time buyers can still use the federal FHSA, Home Buyers’ Plan, home buyers’ amount and the GST rebate on new homes.
How much down payment do I need in Manitoba?
5% of the first $500,000 and 10% of the rest, or 20% at $1.5 million or more. On the Winnipeg benchmark that’s $19,645.
What closing costs should I budget for in Manitoba?
Land transfer tax, the Land Titles registration fees, legal fees, a home inspection, title insurance and adjustments. CMHC’s rule of thumb is 1.5% to 4% of the price.
What is Manitoba’s Homeowners Affordability Tax Credit?
A credit against the school taxes on your principal residence: the lesser of $1,600 and your gross school taxes for 2026, and up to $1,700 for 2027. It replaced the Education Property Tax Credit in 2025.
What federal help is there for first-time buyers in Manitoba?
The FHSA, up to $60,000 from an RRSP through the Home Buyers’ Plan, the $10,000 home buyers’ amount, up to $50,000 of GST back on a new home and a 30-year insured amortization through CMHC Home Start.
Can I use my FHSA and RRSP together to buy in Manitoba?
Yes. Both are federal. Each first-time buyer can make a qualifying FHSA withdrawal and take up to $60,000 from an RRSP through the Home Buyers’ Plan for the same home, as long as they meet the conditions for each at the time.
General information, not financial or legal advice. Programs have conditions on residency, past ownership and price; your lawyer or notary and the program will confirm what you qualify for. Rules checked October 16, 2026. See our methodology.
