Lower your monthly payment
A lower rate or a longer amortization can bring the payment down. We'll show the total cost too, because a longer amortization means paying interest for longer.
Start with this: lower my monthly paymentMortgage refinancing Winnipeg, Manitoba
Winnipeg mortgage refinancing, with the math done first
Lower your payment, pay off higher-interest debt or free up money for a renovation. Before you break anything, a licensed CENTUM® mortgage professional works out your penalty, your costs and your new payment, then compares lenders to see whether refinancing is worth it.
- Licensed mortgage professionals
- Access to over 50 lenders
- A reply the same business day
- 25+ years serving Canadians
What do you want refinancing to do?
Most people who refinance want one of these four things. Pick yours and we'll start the form there.
Pay off higher-interest debt
Rolling credit cards or a car loan into your mortgage can turn several payments into one, at a mortgage rate. It works best with a plan so the cards don't fill back up.
Start with this: pay off higher-interest debtRenovate or add a suite
You can usually borrow up to 80% of your home's value. Adding a self-contained secondary suite? Federal rules allow insured refinancing up to 90% of the value including the suite, for homes under $2 million once it's built.
Start with this: borrow for a renovation or suiteNot sure yet
Maybe your renewal is coming up, or your income has changed. Tell us where things stand and we'll lay out the options, including leaving your mortgage as it is.
Start with this: not sure yetBefore you break your mortgage
The math we do before you sign anything
A refinance only makes sense if what you gain is bigger than what it costs to get there. This is what your CENTUM® mortgage professional works out with you, line by line, using quotes from more than one lender.
Get my numbersYour refinance worksheet
Worked out with you, before any decision
- Penalty to break your current mortgageTypically the larger of 3 months' interest or the interest rate differential (IRD). Your lender's payout statement has the exact figure.
- Closing costsAppraisal, legal fees, title search and title insurance, plus registering the new mortgage at Manitoba Land Titles.
- How much you can borrowUsually up to 80% of your home's appraised value, minus what you still owe.
- Whether you qualifyFederally regulated lenders test you at the higher of your rate plus 2% or 5.25%.
- Your new payment and total costThe monthly payment, the interest over the term, and what a longer amortization adds overall.
Bottom line: is it worth it?
The savings or cash you free up, minus the penalty and costs. Sometimes the better answer is to wait for your renewal, when there's usually no penalty to pay.
Refinancing in Winnipeg: the Manitoba details
Most refinancing rules are federal. A few things work differently in Manitoba and Winnipeg, and they're worth knowing before you meet the lawyer.
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Your spouse may need to sign
Under Manitoba's Homesteads Act, if only one spouse or common-law partner owns the home, the other has to consent in writing before it can be mortgaged. A refinance registers a new mortgage, so plan for both of you to sign.
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No land transfer tax if the owners stay the same
Manitoba charges land transfer tax when a transfer of title is registered. A straight refinance registers a mortgage, not a transfer. If you're adding or removing someone from the title at the same time, ask your lawyer how the tax applies.
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Check who pays your property tax
Some lenders collect property tax with your mortgage payment. If your new lender won't, the City of Winnipeg's TIPP plan spreads the tax over 7 to 12 monthly withdrawals. Joining after January 1 adds a one-time 2% fee on the instalments you missed.
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Your home may be worth more than you think
Winnipeg detached homes and condos set record July prices in 2026, with the average detached home at about $454,000. Your own home's value comes from the appraisal, and that sets how much equity you can use.
Sources: Manitoba Family Law, Manitoba Finance, land transfer tax, City of Winnipeg, TIPP, CTV News Winnipeg, August 6, 2026.
What happens after you send the form
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Tell us your goal
Pick what refinancing should do and where to send your options. No documents yet.
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A reply the same business day
A licensed mortgage professional replies by email, or by phone if you add one.
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Compare your numbers
Your penalty, costs and new payment from more than one lender. No obligation.
What CENTUM® clients say
Adrian helped us in so many ways with our mortgage. … Adrian's guidance was incredibly knowledgeable and he was remarkably fast in his communications and dedication in guiding us through all of the steps and hurdles required. We would highly recommend him for anyone seeking financial assistance.
I've been self employed for most of my life and being as such getting a loan or a mortgage is always tricky (at least for me). Even when I tried other brokers and banks she was able to offer a much better deal and terms and get the deal approved.
Extremely responsive and followed up the day after closing to make sure everything was ok. … Would recommend to anyone needing a mortgage.
We have used them twice and they have done everything to make our experience as painless as possible. … They know the business end to get you the best, but will treat you like family.
Years serving Canadians
25+
Canadians choose CENTUM® each year
15,000+
Lenders our brokers can access
50+
Winnipeg refinancing questions
Still wondering about something? Ask it when your mortgage professional gets in touch.
Get my refinance optionsHow much can I borrow when I refinance in Winnipeg?
Usually up to 80% of your home's appraised value, minus what you still owe. For example, on a home appraised at $450,000 with $250,000 left on the mortgage, the most you could typically access is about $110,000 before costs. The exception is the federal secondary suite program, which allows insured refinancing up to 90% when you're adding a self-contained unit.
What does it cost to break my mortgage early?
Lenders typically charge the larger of 3 months' interest or the interest rate differential (IRD). The IRD usually applies when your rate is higher than today's rate and you signed less than five years ago. Each lender calculates it its own way, so ask yours for a payout statement. Then add appraisal, legal and title costs to see the full cost of refinancing.
Should I refinance now or wait until my renewal?
If your renewal is close, waiting often makes sense, because the penalty applies when you break the mortgage before the end of the term. If you need the money now, or the penalty is small next to what you'd save, refinancing mid-term can still come out ahead. That comparison is what we work out with you.
Do I have to pass the stress test to refinance?
Usually, yes. Federally regulated lenders qualify you at the higher of your contract rate plus 2% or 5.25%. The exemption that OSFI allows is for a straight switch at renewal with no extra money and no longer amortization, and a refinance that adds money isn't one.
Does my spouse have to sign if they're not on the title?
Yes, if it's your family home. Under Manitoba's Homesteads Act, when only one spouse or common-law partner owns the home, the other must consent in writing before it can be mortgaged. Your lawyer will arrange the consent when the new mortgage is signed.
Will I pay land transfer tax on a refinance in Manitoba?
Not normally. Manitoba's land transfer tax is charged when a transfer of title is registered, and a refinance with the same owners registers a mortgage instead. If you're changing who's on the title at the same time, check with your lawyer.
Who will contact me, and when?
A licensed CENTUM® mortgage professional replies the same business day. Your request goes to our team and is passed to a professional who handles Manitoba mortgages.
What will I need to get exact numbers?
Usually a recent mortgage statement, proof of income and your property tax statement, and the lender will order an appraisal. You don't need any of it to send the form.
Find out what refinancing would actually do for you
Two short steps, a reply the same business day, and the numbers before you decide anything.
Get my refinance options