New Mobile Home Model / Source: Best Buy Homes A Guide to Buying a Mobile Home in Winnipeg Overview As an affordable housing option for buyers in Winnipeg, mobile homes are growing in demand for first-time buyers, families, and downsizers alike. While the price point is often comparable to an apartment or townhome, mobile homes offer benefits like more square footage, a private yard, and the flexibility of a detached home. A mobile home (or manufactured home) is built entirely in a factory and transported to a desired location, rather than constructed onsite. Though typically semi-permanent once installed, they retain some mobility.  These types of home's have specific considerations unique to their structure, location, and financing, all of which are important to understand before making a purchase. Benefits of Buying a Mobile Home in Winnipeg Affordability: Mobile homes are often more affordable than single-family homes and offer a lower entry point into homeownership in Winnipeg’s competitive market. Flexible Living Arrangements: Mobile homes can be placed on rented land in parks or on purchased lots, giving buyers flexibility in where they choose to settle. Quick Setup: Mobile homes are built and transported quickly, offering a much shorter timeline than custom-built homes. Private Yard Space: Unlike apartments or some townhomes, mobile homes come with private outdoor space, giving you flexibility for gardening, outdoor relaxation, or pets. Lease Fees:  If part of a mobile home park the lot is often leased with a monthly fee. This fee covers essentials like snow removal, garbage, and water services. Municipal fees or taxes paid by the park, will be included to reflect the portion owed by that individual lot. Detached Property with Larger Square Footage: Mobile homes offer the benefit of more space without shared walls, providing greater privacy than most apartments or townhomes. Community: Many mobile home parks provide play structures and encourage pedestrian use with trails and a vehicle speed limit. Some parks may also have a community centre or pool for it's occupants.  Park Rules: Most mobile home parks have policies and a management that ensures fairness amongst the tenants that the rules are followed. 5 Key Considerations for Mobile Home Buyers 1. Financing and Depreciation Depreciation and Economic Life: Mobile homes generally have a shorter economic lifespan than conventional homes, typically around 50 years. Depreciation can affect both property value and financing options, especially if the home is older or less maintained. Lenders may be more cautious, particularly if the mobile home has less remaining economic life. The economic life of a mobile home refers to the period during which it is considered to have value and utility for its intended purpose. While the economic life defines its practical lifespan, mobile homes can remain usable beyond this period with significant maintenance, repairs or upgrades, though their market value may decline. Effective Age and Maintenance: A well-maintained mobile home with regular updates can have a longer effective age, which improves financing options. For example, a 15-year-old mobile home with major upgrades may be assessed as having an effective age of only five years, positively impacting its appraised value. While improvements can enhance living comfort, they may not increase the home's resale value significantly. Financing Challenges: Given depreciation concerns, buyers may need to meet specific criteria to qualify for a mortgage, and certain lenders may limit financing options based on the age and remaining lifespan of the home. Mobile Home on a Foundation with Owned Land You may qualify for a traditional mortgage if the home is permanent and you own or are buying the land.  Mobile Home on Owned Land but Movable Traditional mortgages don’t typically apply. Instead, you might use a chattel mortgage, which secures the loan with the mobile home itself as personal property. Mobile Home in a Park (No Land Ownership) A personal loan is usually the best option. Be cautious of loan limits to ensure you can cover the full cost of the mobile home. Anchor Support System / Source: Groundhog Anchor 2. Anchoring Requirements Proper Anchoring for Financing: Lenders usually require mobile homes to be securely anchored to be classified as real property rather than chattel (movable property). In Manitoba, this can mean either steel piles or concrete foundations, as well as metal strapping or anchoring for stability. Types of Anchoring: Older mobile homes may be anchored with wooden blocks or piles, whereas newer homes are typically set on steel piles or concrete. Proper anchoring is crucial for both financing and safety, so it’s wise to verify the anchoring system before buying. 3. Location and Land Ownership Freehold vs. Leasehold: Mobile homes in Winnipeg may be freehold (owned land) or part of a leased-land park. With leased-land properties, buyers rent the land from a park owner, which typically involves a monthly fee. These fees can vary widely, and it’s essential to clarify what services (e.g., water, sewage, garbage removal) are included as well as the amount of municipal taxes. Owning the land can protect you from fluctuations in mobile park fees, and it may slightly appreciate over time. Zoning and Land Use Regulations: Check local zoning and land-use restrictions, as some areas have specific rules for mobile homes. This is especially important if you plan to add extensions or make modifications. 4. Condition and Required Maintenance Spec Sheet and Serial Number: Every mobile home has a spec sheet (often located on an inside cabinet) with key details about the home, such as the make, model, and serial number. This information is essential for financing and resale. Construction Quality: Mobile homes built after 1976 (when HUD construction standards were implemented in the U.S.) generally last longer because of improved materials and building codes. Homes with higher-quality materials and craftsmanship tend to have a longer economic life. In Manitoba, all mobile homes must have CSA certification. New mobile homes come certified, but older ones may not be. You can check for the certification sticker near the doorway or electrical panel. If the sticker is missing, the mobile home needs to be inspected. The Office of the Fire Commissioner no longer conducts these inspections, for more information contact Inspection & Technical Services Manitoba at (204) 945-3373 or email TechnicalServices@gov.mb.ca. Modular Housing Association Prarie Provinces (MHAPP) For a timeline of single section homes, comparing the differences in building code changes, size increases and feature improvements, it can be found here: https://mhaprairies.ca/history-of-factory-built-housing/ Proper Installation: Correct installation is crucial; approximately 80% of warranty issues stem from poor setup, which can lead to costly damage like leaks, warping, or structural weakness. Preparation of the site and foundation is mandatory and important to the safety of the home. A detailed manual can be found at the following: Municipality of Roblin - Mobile Homes   Rapid Wall Insulated Vinyl Skirting Panel / Source: Prairie Mobile Homes Maintenance: Regular upkeep, including skirting, anchoring, roofing, siding, and systems (e.g., plumbing, electrical), significantly extends the economic life. Options like sloped landscaping around the foundation prevent water buildup. Neglect can reduce the home's life expectancy. Weatherproofing and Winterization: Winnipeg’s cold winters can impact mobile homes. Ensuring proper insulation, particularly in the skirting (the area around the base of the mobile home), can help avoid issues with frozen pipes and heating efficiency. Some homes may also require heat-traced pipes for extra protection. Upgrades and Retrofits: Many mobile homes feature smaller door and window frames than site-built homes. Upgrading to standard-size doors and energy-efficient windows can improve comfort and reduce heating costs. Usage: Homes used as full-time residences may wear out faster than those used seasonally. 5. Resale Value and Market Demand Resale Considerations: Mobile homes depreciate faster than traditional homes, which may impact resale value. Buyers should be prepared for slower appreciation rates and consult a REALTOR® familiar with the mobile home market for guidance.  Market Demand: Mobile homes are growing in demand among cost-conscious buyers in Winnipeg, but their resale value can be more sensitive to the condition, location, and age of the home than conventional properties. This may also affect the number of potential buyers when it’s time to sell. Steps to Buying a Mobile Home in Winnipeg Budget and Financing: Contact local lenders to understand financing options for mobile homes, especially given the impact of depreciation and potential anchoring requirements. Inspection and Appraisal: Hire a certified inspector to assess the condition of the mobile home, especially if it’s older. An appraisal can also help determine its remaining economic life, which may affect mortgage eligibility. Verify Anchoring and Condition: Ensure that the mobile home is securely anchored, and review its spec sheet for essential information. Consider any weatherproofing upgrades that may be needed to withstand Winnipeg winters. Review Lot Lease Terms: If the mobile home is in a park or on leased land, review lease terms carefully to understand all associated fees and services provided. Mobile home parks have policies that must be adhered to and will most often require an application by the buyer. The offer to purchase a mobile home is conditional on the park approval of the buyer, where application is required. Mobile Home Licenses, Fees, and Taxes Licenses Definition: A permit issued by a municipality for a mobile home, with an associated fee paid by the owner. Mobile Home Park: A residential complex with two or more mobile homes located for 60+ days. Privately Owned Mobile Home Parks License Fees: Some municipalities require mobile home owners to pay a license fee. Landlords often collect these fees on behalf of the municipality and pass them along. License fees are not considered rent, so landlords can implement fee increases immediately upon notice from the municipality (no three months’ notice is required). License fees are excluded when landlords apply for rent increases above the guideline. Municipal Taxes: Municipalities may assess taxes on mobile homes and other structures like garages or sheds. The landlord pays the taxes to the municipality and divides the cost among tenants. On tenancy agreements, landlords must clearly list the rent and any separate tax charges. Municipally Owned Mobile Home Parks Municipalities that own mobile home parks: Are exempt from rent regulation and land taxation. Can assess and collect taxes directly from mobile home owners. Act as a taxing authority, not a landlord, when collecting taxes. Taxes are not considered rent, so municipalities can increase them without providing three months’ notice, following their bylaws. Rent Increases: Rent increases require three months’ notice and can only occur once every 12 months. Rent and tax increases don’t need to occur simultaneously. Interior Single-Wide Mobile Home / Source: Best Buy Homes Interior Double-Wide Mobile Home / Source: Best Buy Homes Types of Mobile Homes Single-Wide: Typically up to 90 ft. long and 16-18 ft. wide, single-wide mobile homes are economical and easier to move. They consist of a single unit, making transport simple. Double-Wide: Over 20 ft. wide, double-wide homes consist of two large sections joined at the site, creating more interior space but with greater complexity for transportation. Some manufacturers are now also offering triple-wide mobile homes, especially common in rural areas, allowing for more space without high urban land costs. Financial Considerations and Cost Benefits Comparative Costs: While the average cost of a single-family home in Winnipeg can exceed $350,000, mobile homes start around $150,000.  Energy Efficiency: Many mobile homes are built to be energy-efficient, with modern insulation and windows, which can result in long-term cost savings. Low Initial Investment: A lower purchase price means smaller mortgage payments or personal loans, providing a financial advantage to those unable to afford high down payments on traditional homes. Mobile Homes and The Homesteads Act A mobile home can qualify as a homestead under The Homesteads Act in Manitoba, but certain conditions must be met: When a Mobile Home is a Homestead Used as a Family Home: The mobile home must be occupied by the owner and their spouse or common-law partner as their primary residence. On Owned Land: The land on which the mobile home is situated must also be owned by the same person who owns the mobile home. When it Doesn’t Qualify If the mobile home is located in a mobile home park where the land is rented, it would not be considered a homestead under the Act. The protection under the Act applies to land and the residence, so without land ownership, homestead protections don’t apply. This means that mobile homes on privately owned land may be protected under The Homesteads Act, but those in rented parks are not. Changing Perceptions and Demand Rising costs in urban areas have increased the appeal of mobile homes, with many new builds incorporating high-quality materials and modern design elements. As a result, mobile home parks and communities are gaining popularity, particularly as they offer a sense of community along with cost savings. Conclusion Buying a mobile home in Winnipeg can be an affordable way to achieve homeownership while enjoying the perks of a detached home and a private yard. However, it’s crucial to fully understand financing nuances, depreciation, and the specific requirements for maintaining and selling a mobile home in Manitoba’s unique climate. With the right preparation, a mobile home can be an excellent option for homebuyers in Winnipeg looking for space and affordability. If you’re ready to explore mobile homes your REALTOR® can guide you through the process, from financing to finding the right lot or park to make your homeownership dreams a reality.

October 2024 Real Estate Market Report for Manitoba The Winnipeg real estate market showed strong performance in October 2024, with gains across All MLS® sales, average prices, and dollar volume compared to the previous month and October 2023. Winnipeg saw active demand, with notable increases in residential detached homes, condominiums, and residential attached properties, setting the stage for one of the most dynamic months of 2024.   October 2024 Key Metrics: All MLS® Sales: 1,337, a 7% increase over September and a 19% increase from October 2023. Total MLS® Dollar Volume: Over $508 million, marking a 28% increase from last October. Active Listings: 3,624, down 10% from October 2023 but still above the 5-year average. Residential Property Performance Residential Detached Homes: Sales: 927, up 19% from October 2023. Average Price: $427,237, representing a 7% increase year-over-year. Popular Price Range: The $600,000-$699,999 range was the most active, accounting for 10% of sales (90 homes). Condominiums: Sales: 212, a 24% increase from October 2023. Average Price: $265,083, an increase of 2% over last October. Top Sales Locations: Osborne Village and Waverley West recorded the highest condominium sales. Popular Price Range: $150,000-$174,999, representing 12% of total sales.  Residential Attached Homes: Sales Growth: Up 27% over October 2023, continuing to drive increased market activity and demand.  Year-to-Date (YTD) Metrics (January to October 2024) Total MLS® Sales: 12,822, up 12% from 2023. Total Listings: 20,692, up 2% from the previous year. Total Dollar Volume: Over $4.8 billion, up 18% year-over-year. Residential Detached: 8,848 sales YTD, with an average price of $423,217, up 6%. Condominiums: 1,923 sales YTD, with an average price of $275,777, up 6%. Residential Attached: 885 sales YTD, with an average price of $365,218, up 10%. Market Insights and Advocacy Efforts The Winnipeg Regional Real Estate Board has continued its advocacy work, joining other Canadian real estate boards at the Canadian Real Estate Association’s PAC Days Conference in Ottawa. The Winnipeg Regional Real Estate Board emphasized solutions to the current housing crisis, including recommendations for offsite construction, national housing initiatives, and extending tax relief to non-profit housing providers. Marina R. James, CEO of Winnipeg Regional Real Estate Board, reaffirmed the board's commitment to addressing housing affordability and supporting meaningful community solutions. Notable Neighborhoods in October Waverley West recorded the highest residential detached sales within Winnipeg, followed by Polo Park. Outside of Winnipeg, Steinbach and Morden/Winkler were the leading areas for detached home sales. Osborne Village led in condominium sales, with Waverley West close behind. Luxury Market There were 17 residential detached homes sold at or above $1 million in October, nearly doubling from 8 in October 2023. The highest sale reached just over $2.3 million. Summary October 2024 was one of the most active months on record, reflecting Winnipeg's strong market fundamentals and buyer interest across property types. Continued growth in both urban and suburban areas, coupled with proactive market support from Winnipeg Regional Real Estate Board, positions Winnipeg as a thriving and resilient market moving into the final months of 2024.

  Buying a home can be financially challenging and several programs have been built to ease the process for first-time buyers in Manitoba. These incentives and assistance options can help reduce costs, manage finances, and make homeownership more accessible. Below are some key programs available to support first-time home buyers in Manitoba. Home Buyers' Plan (HBP): Withdraw RRSP funds, tax-free, to put towards a first home purchase. First Home Savings Account (FHSA): Tax-free savings account for a first home down payment. First-Time Home Buyers’ Tax Credit (HBTC): Claim a tax credit to offset purchase costs. GST/HST New Housing Rebate: Recover part of GST or HST on a new home build. First Time Home Purchase Program (FTHPP): For Metis citizens who are first-time home buyers to assist with down payment and closing costs. Rural HomeOwnership Program (RHP): Provides affordable homeownership through Manitoba Housing in rural areas. Manitoba Tipi Matawa Program (MTM): A Manitoban First Nations, first-time homebuyers' program that is designed to help with down payment, while providing home-purchase education. 7 First-Time Home Buyer Programs Available in Manitoba When buying your first home, you might be surprised by the additional costs beyond your down payment. Expenses like moving fees, legal costs, inspections, and taxes can quickly add up, sometimes catching new buyers off guard. Fortunately, first-time homebuyers in Canada have access to programs designed to offset these costs, making homeownership more accessible. Here’s an overview of seven valuable programs available for first-time homebuyers in Manitoba: 1. Home Buyers’ Plan (HBP) Home Buyers' Plan / Source: Desjardins Overview The Home Buyers’ Plan (HBP) is a national program that allows you to withdraw up to $60,000 from your Registered Retirement Savings Plan (RRSP) to help buy or build a qualifying home. If you’re purchasing the property with a partner who is also a first-time homebuyer, they can withdraw an additional $60,000, bringing the combined maximum to $120,000. Keep in mind these funds must be repaid to the RRSP over 15 years to avoid penalties. Requirements Requirements include being a first-time buyer and intending to use the home as your principal residence within one year. You must repay the loan within 15 years to avoid penalties, starting the second year after withdrawal. 2. First Home Savings Account (FHSA) First Home Savings Account / Source: RBC The First Home Savings Account (FHSA) is a new registered savings plan in Canada designed to help Canadians save for their first home, combining the tax benefits of an RRSP and a TFSA. Here’s how it works and why it could be beneficial if you buy a home. Benefits of the FHSA Tax Deductible Contributions: Similar to an RRSP, your contributions to an FHSA are tax-deductible, which can lower your taxable income and reduce the tax you owe. Tax-Free Growth: Any investment income generated in the FHSA, like from mutual funds, stocks, ETFs, or savings accounts, is tax-free while it remains in the account. Tax-Free Withdrawals: When used for buying a qualifying home, withdrawals from the FHSA are tax-free, much like a TFSA. This makes it a highly efficient way to save for a down payment. Eligibility for Opening an FHSA To open an FHSA, you must: Be a Canadian resident who has reached the age of majority in your province or territory. Be a first-time homebuyer, which means you have not lived in a home you owned, individually or jointly, in the current year or the past four calendar years. Contribution and Withdrawal Limits Contribution Limits: Annual limit: $8,000, including any funds transferred from an RRSP Lifetime limit: $40,000 Any unused portion of the annual contribution can be carried forward, allowing you to contribute up to $8,000 in any one year Usage Period: You must use your FHSA contributions within 15 years of opening the account, or before age 71. After that, you can transfer the savings into an RRSP or RRIF without penalty, or make a taxable withdrawal. Qualifying Withdrawals: There’s no maximum on how much you can withdraw tax-free, provided you use the funds for a qualifying home. You may also be able to access your RRSP under the Home Buyers' Plan for the same home purchase. Who Qualifies as a First-Time Homebuyer? You qualify as a first-time homebuyer if you haven’t lived in a property you owned in the past 4 years or never purchased a home. Newcomers to Canada are eligible, too, provided they have a valid Social Insurance Number (SIN) and meet the residency and homebuyer requirements. How Does the FHSA Compare to Other Plans? The FHSA combines features of both the RRSP (tax-deductible contributions) and the TFSA (tax-free withdrawals), making it an appealing option to save for a down payment on your first home. It allows Canadians to save more effectively by taking advantage of tax-deferred growth and tax-free withdrawals, depending on how funds are used. With its unique blend of benefits, the FHSA could help first-time homebuyers reach their savings goals faster, making homeownership more accessible. 3. Home Buyers’ Tax Credit (HBTC) The HBTC is a federal, non-refundable tax credit encouraging Canadians to purchase their first home. This credit applies to properties in Canada that must be registered with the land registry office in your name or jointly with a spouse or common-law partner. This tax credit can help ease the costs associated with homeownership, by offering a valuable reduction in your income taxes for the year of your home purchase. For those new to the market, it's an easy-to-miss credit that could save you significantly during tax season. Who Qualifies as a First-Time Home Buyer? You may qualify if: You, your spouse, or common-law partner haven’t owned a home you lived in within the last 4 years. You’ve never owned a home before. You must occupy the home as a principal place of residence no later than one year after it is purchased. The four-year rule allows some individuals who’ve owned homes in the past to qualify if it’s been long enough since their last ownership. Disability Exception: If you or a relative claim the disability tax credit, you may qualify for the HBTC even if you’ve owned a home recently. This also applies if you’re helping a relative with a disability buy a home to live in. How Much Can You Claim? You can claim up to $10,000 individually or split the amount with your spouse or partner, which provides a tax reduction of up to $1,500 (at the 15% tax rate). For example, each of you can claim $5000 and get a credit to reduce your income tax payable by $750. The HBTC is non-refundable credit and will reduce the amount of taxes you owe by $750. It cannot be anymore then this amount— if you don't owe income tax, you won’t receive a benefit from the HBTC. What Properties Qualify? The HBTC covers a range of property types as long as they serve as your main residence: Single-family homes Semi-detached homes Townhouses Mobile homes Condos Units within apartment buildings, such as duplexes, triplexes, or fourplexes A share in a co-operative housing corporation that entitles you to own and provides an equity interest Homes under construction also qualify if you move in within one year after closing. 4. GST/HST New Housing Rebate The GST/HST New Housing Rebate is designed to help Canadian homebuyers recover a portion of the tax paid on new builds, substantially renovated homes, and certain other property types. Here’s how you can determine if you qualify and how to claim it. How to Qualify for the New Housing Rebate The New Housing Rebate is available for those buying or building a new home to serve as their primary residence in Canada. It applies to: New Construction or Preconstruction Homes: The home must be bought from a builder registered with the GST/HST New Housing Rebate program. The property should be your primary residence. Substantial Renovations: The rebate can apply to resale homes if they undergo substantial renovations, meaning at least 90% of the interior is removed or replaced. It’s available only if the home is your primary residence and located in Canada. Eligible Property Types: This includes newly constructed or preconstruction houses, condos, mobile homes, floating homes, bed and breakfasts, or duplexes. Claiming the New Housing Rebate Application Process: Submit the rebate form on the Canada Revenue Agency (CRA) website within 2 years of the construction or purchase date. Provide required documents like your sales contract, settlement statement, and any other applicable paperwork. Builder-Assisted Application: If you purchased a new home from a builder, they might be able to apply for the rebate on your behalf. CRA Review: Once the CRA processes your application, you’ll receive notification of the decision and, if approved, a cheque for the rebate amount. Rebate Amounts GST/HST Rebate Value: The rebate is 36% of the GST or the federal portion of the HST, capped at $6,300. Homes with a fair market value of up to $350,000 qualify for the maximum rebate amount. Homes valued over $350,000 may qualify for a partial federal rebate and provincial rebates, where applicable. 5. First Time Home Purchase Program (FTHPP)  First Time Home Purchase Program / Source: Louis Riel Capital Corporation The First Time Home Purchase Program (FTHPP), available to citizens of the Manitoba Metis Federation (MMF), was created to address the housing needs of its citizens in rural and urban areas. It is delivered through the Louis Riel Capital Corporation (LRCC) and meant to provide homeownership opportunities where citizens might not have otherwise had.  This program offers: 5% towards the down payment - this amount is based on the home purchase price and cannot exceed $18000.00 1.5% towards closing costs (legal, land transfer tax etc) - this amount is based on the home purchase price and cannot exceed $2500.00 For a list of full eligibility requirements and criteria for participants, the application can be found at the following, https://www.mmf.mb.ca/first-time-home-purchase-program  Eligibility Requirements Residency: Applicants must have lived in Manitoba for at least six months. Métis Citizenship: Proof of Métis citizenship, either through an MMF Métis Citizenship Card or an acknowledgment letter from MMF, is required. Age and Mortgage Qualification: Applicants must be 18 or older and eligible for a mortgage from a recognized financial institution. LRCC or MMF may review the terms of the mortgage. Priority Groups: Priority is given to applicants in social housing or those escaping abusive situations. Forgivable Loan Positioning: The forgivable loan must be registered as a second mortgage, with costs borne by the applicant. Primary Residence: The property must be the applicant's primary residence, and they must not have owned a home before. Real Estate Ownership Limits: Applicants must not own real estate valued over $30,000. Income and Asset Limits: Annual household income must be below $100,000, and combined liquid assets must not exceed $60,000. Eligible Home Types New Builds: Homes with a new home warranty purchased as turnkey (not under construction). Resale Homes: Single-family, duplexes, townhomes, condos, or multi-unit dwellings. Ready-to-Move Homes (RTMs): Must be on permanent foundations. Conversions: Non-residential buildings converted to residential use with a new home warranty. Mobile Homes: Only on owned land, with a permanent foundation acceptable for mortgage financing. Financial Guidelines for Home Purchases Maximum home purchase price: $600,000. Ineligible Home Types Life-Lease Communities: Homes within life-lease arrangements. Homes on Leased/Rented Land: Mobile homes in trailer parks. Self-Built or Progressive Build Projects: The program does not cover self-built or progress-draw homes. Important Note: Approval is required before making an offer, so applicants are advised to contact Louis Riel Capital Corporation (LRCC) for guidance before proceeding with a home purchase.This program’s support for down payment and other assistance aims to make homeownership more accessible for Métis people across Manitoba. 6. The Rural Homeownership Program The Rural Homeownerhsip Program / Source: Province of Manitoba The Affordable Homes Program or also known as The Rural Homeownership Program is designed to help eligible buyers purchase affordable homes through Manitoba Housing in select rural communities in Manitoba. This program provides financial support for down payments, legal fees, and other initial expenses, making homeownership more accessible. It is offered through two streams: Tenant Affordable Homes Stream: Allows qualifying Manitoba Housing tenants to buy the home they’re renting (subject to approval) or a vacant home in a rural area. Vacant Affordable Homes Stream: Allows qualifying applicants to purchase a vacant home owned by Manitoba Housing in designated rural communities. Eligibility Criteria Current Housing: You must currently rent from Manitoba Housing in selected rural communities or wish to purchase a vacant home owned by Manitoba Housing. Income Limits (Effective January 2024): Households without children: Maximum income of $67,900 Households with children or dependents: Maximum income of $90,500 For additional down payment assistance of 25%, maximum income is set at $46,500 Ownership: You must not currently own other property. Mortgage Qualification: Applicants must qualify for a mortgage from a financial institution. Primary Residence: The purchased home must be your primary residence. Financial Assistance Available Down Payment Assistance 10% of Purchase Price: Forgivable over five years, with one-fifth of the assistance forgiven each year you live in the home. 15% or 25% of Purchase Price: Forgivable after 15 years of continuous ownership and occupancy. The 25% level is for those with household incomes below $46,500. Example (for a $60,000 home): Purchase Price: $60,000 Down Payment Assistance: 10% = $6,000 (forgiven over five years) 15% = $9,000 (forgiven after 15 years) Total Assistance: $15,000 Required Mortgage Amount: $45,000 Additional Assistance Land Transfer Tax and Fees: Covered by Manitoba Housing. Non-repayable Grants: $1,500 Grant: To cover legal fees, second mortgage registration, and home inspection. $1,000 Moving Grant: Available for those purchasing a vacant Manitoba Housing property. Important Notes You are responsible for all mortgage payments to your financial institution. The level of financial assistance depends on the home’s purchase price. Information: Phone: 204-451-3960 or toll-free at 1-855-201-4624 Email: mbrealestateinquiries@gov.mb.ca https://www.gov.mb.ca/housing/progs/homeownership.html 7. Manitoba Tipi Mitawa (MTM) Homeownership Program Manitoba Tipi Mitawa Program / Source: Assembly of Manitoba Chiefs The Manitoba Tipi Mitawa program is a partnership initiative between the Assembly of Manitoba Chiefs and the Manitoba Real Estate Association (MREA). It offers homeowner education and financial support to Manitoba First Nations families who are first-time home buyers. Program Overview With its comprehensive support, including financial assistance, educational resources, and flexibility in neighborhood choice, the MTM program is a valuable pathway to homeownership for First Nations families in Manitoba. Guidance through essential steps include: Financial Education – Understanding budgeting, savings, and credit. Home Maintenance Training – Learning how to care for a home. Realtor Selection – Choosing a REALTOR® to help with the home search. Home Purchase Support – Assistance through the purchase process. Eligibility Requirements To qualify for the MTM program, applicants must meet the following basic criteria: First-Time Homebuyer: The applicant must be buying a home for the first time. Residency and Background: The primary applicant must be a member of a First Nation. Have lived in Manitoba for the past 10 years. Agree to undergo a voluntary credit report check. Employment and Income: Must have been continuously employed full-time for at least two years. Annual household income should range between $50,000 and $84,600, excluding social assistance. Household Dependents: The applicant must have dependents living in the household, such as a person under the age of 22, or a person under the age of 26 who is registered in full-time study, or a person of any age who is recognized as a dependent of someone in the household for income tax purposes Commitment to Education: Must attend approximately 40 hours of educational sessions on financial literacy, home maintenance, and home purchase orientation. Home Purchase Requirements: Be willing to buy a home (minimum two bedrooms) within Winnipeg or Brandon or another major urban center. Use a registered member of the Canadian Association of Home and Property Inspectors (CAHPI) for mandatory home inspection. Request a Property Disclosure Statement from the seller. Public Relations Participation: Willingness to participate in public relations for MTM. Minimum Deposit: Must have at least $5,000 available for the home deposit. Selection Process Eligibility is assessed based on creditworthiness, which includes: Income: Consistent income within the program’s specified range. Credit History: Positive credit score and manageable debt ratio. Program Financial Support Maximum House Price: Up to $250,000 for homes in Winnipeg and Brandon. Up to $225,000 for homes in other communities. Down Payment Assistance: The program provides a 15% down payment: 10% is funded by the Manitoba government. 5% is funded by Manitoba Tipi Mitawa. Legal and Closing Cost Assistance: The program offers up to $4,000 to cover legal fees and closing costs, helping reduce upfront costs for first-time homebuyers. Manitoba Tipi Mitawa  | Source: MREA Summary Navigating these programs can be easier with guidance from a REALTOR®, financial advisor, or mortgage broker. These professionals can provide insights into which options best suit your needs and help make the home-buying process as smooth as possible. For more details, visit Canada Mortage and Housing Corporation at CMHC's website for information and program links.