Manulife Mortgage Review 2025 – Forbes Advisor Canada

Manulife offers a good range of mortgage terms as well as unmatched flexibility on how you can structure your mortgage.

Loan Types

Manulife offers the following mortgage options:

• New mortgage
• Renewals
• Refinance
• Mortgage transfers/switches
• Investment properties (non-owner-occupied) in select communities across Canada

Manulife does not offer financing options on:

• Leased land
• Mobile homes
• Vacant land

Or, if you have declared bankruptcy in the past six years.

Manulife offers two innovative mortgage programs:

Manulife One is an all-in-one mortgage that combines your mortgage with your bank accounts, short-term savings, income and other debts. This readvanceable loan allows you to pay down your mortgage more quickly or access your home’s equity when required. You need at least a 20% down payment when purchasing a home, or at least 20% equity for a refinance or transfer into Manulife. You can purchase optional mortgage protection insurance with a Mortgage One account.

Manulife Bank Select is a traditional mortgage that allows you to divide your loan into different portions, each with its own dollar amount, interest rate, term and payment schedule. You’ll need a Manulife high-interest chequing account along with your mortgage. When you maintain a minimum balance of $5,000, you’ll have free banking, unlimited transactions and a high interest rate; otherwise, you can choose a monthly fee or pay-as-you-go account. This mortgage may be a good option if you have at least a 5% down payment or want to switch, refinance or renew your mortgage with Manulife.

Manulife currently offers these mortgage terms and types:

Manulife One

• 1-year fixed closed
• 2-year fixed closed
• 3-year fixed closed
• 4-year fixed closed
• 5-year fixed closed
• 5-year variable open
• 7-year fixed closed
• 10-year fixed closed

Manulife Bank Select

• 1-year fixed closed
• 2-year fixed closed
• 3-year fixed closed
• 4-year fixed closed
• 5-year fixed closed
• 5-year variable closed
• 5-year variable open
• 7-year fixed closed
• 10-year fixed closed

Related: Manulife Mortgage Rates

Loan Minimum

Manulife does not specify a minimum amount required for a mortgage loan.

Loan Maximum

Manulife does not specify a maximum amount required for a mortgage loan.

Loan Servicing

Manulife Bank underwrites and administers its own loans. You will arrange a mortgage through a local mortgage specialist or affiliated broker.

Current Mortgage Rates