Manulife Bank

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Written By David Pipe
 

Review of Manulife Bank Mortgages

Manulife Bank is a wholly-owned subsidiary of The Manufacturers Life Insurance Company. Launched over 30 years ago, Manulife Bank was the first federally regulated bank opened by an insurance company in Canada and Canada’s first branchless bank.

Manulife Bank provides versatile mortgage solutions that cater to a wide range of clients, including first-time buyers, business owners, and self-employed individuals. With their rental program and a HELOC product, Manulife Bank offers clients customized financial tools to meet their unique needs.

 
Manulife Bank

Today’s Lowest Rates from Manulife Bank

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Ideal Client

Manulife Bank is best suited for first-time buyers, business owners, self-employed individuals, and investors who require flexible financing options.

 

Special Features:

Loan Services (HELOC)

 

Manulife Bank offers a range of flexible mortgage products designed to meet diverse needs. They provide Home Equity Lines of Credit (HELOC), allowing homeowners to access funds based on their property's equity, which can be great for renovations or unexpected expenses. Additionally, their rental program is tailored for property investors, making it easier to finance rental properties. As with any financial decision, it’s important to consider the benefits and potential drawbacks to ensure you choose the right option for your situation.

 

Downsides:

No Physical Branches

 

When considering this lender, it's important to note that they operate entirely online and do not have physical branches. This means you won't have the option for face-to-face consultations, which some clients may prefer for discussing their mortgage options. Additionally, online-only services can sometimes lead to longer wait times for responses or support. Being aware of these factors can help you decide if this lender fits your needs and comfort level.

 

Best Suited For:

 

First Time Buyers

Business Owners

Self-Employed

Investors

 
 

10 Things You Need to Know About Manulife Bank Mortgages

Manulife Bank takes a unique approach to mortgage lending by combining debt management, banking, and long-term financial strategy into one. If you’re looking for more than just a basic mortgage—and want smarter, more flexible tools—Manulife might surprise you.

Here are 10 reasons to consider a mortgage with Manulife Bank:

1. Manulife One: A Mortgage, Line of Credit, and Chequing Account in One

Manulife One is a revolutionary all-in-one account that blends your mortgage, line of credit, and chequing into a single, fully integrated solution. Every deposit reduces your debt automatically, helping you save interest and become debt-free faster.

2. Put Idle Money to Work Every Day

Instead of sitting in a chequing account earning nothing, your income and savings automatically reduce your daily interest costs. Even short-term balances help save interest until you spend them. That’s true financial efficiency.

3. Sub-Accounts for Stability and Strategy

With Manulife One, you can create up to 5 fixed-rate sub-accounts. These allow you to lock in a portion of your borrowing while keeping the rest flexible. It’s the perfect mix of stability and agility in one mortgage.

4. Prepay Any Amount, Any Time (on the Main Account)

The revolving credit portion of Manulife One is completely open—meaning you can pay it down anytime, in any amount, without penalty. For fixed-rate sub-accounts, you can prepay up to 20% per year penalty-free.

5. Borrow Up to 80% of Your Home’s Value

Eligible clients can borrow up to 80% of their property’s appraised value. Up to 65% can be placed in the fully open, re-advanceable main account, with the rest structured in fixed sub-accounts.

6. Equity Advantage Program for High-Net-Worth Clients

The Equity Advantage Program is designed for affluent clients who have strong assets but may not have traditional income documentation. It offers lending up to 50% LTV and is ideal for retirees, investors, or professionals with significant net worth.

7. Small Business Owner Program for Entrepreneurs

Tailored specifically for established business owners, this program recognizes the unique income profiles of self-employed individuals. It provides lending up to 65% LTV and accepts a mix of business income, dividends, and financial statements.

8. Healthcare Professional Program Using Projected Income

Manulife’s Healthcare Professional Program lets doctors, dentists, and veterinarians qualify based on projected earnings while still in residency or early in practice. It’s a powerful way to get approved for a mortgage before your full income kicks in.

9. High-Ratio Options Through Manulife Bank Select

For buyers with smaller down payments, Manulife Bank Select offers 5% down (up to 95% LTV), along with competitive fixed and variable rates—and a high-interest chequing account to help maximize savings.

10. Manulife’s Smart Lending Philosophy

Whether you’re a salaried professional, self-employed entrepreneur, or experienced investor, Manulife Bank brings a strategic, flexible approach to lending. With innovative tools and real-world underwriting, it’s a lender that works with your lifestyle—not against it.

Final Thoughts

If your goal is long-term flexibility, interest savings, and intelligent borrowing, Manulife Bank’s mortgage offerings—especially Manulife One—stand apart. Whether you’re a high-income earner, investor, or someone who simply wants to take control of your financial picture, it’s worth exploring how Manulife’s unique approach can work for you.

 
 
 
 
David Pipe

David Pipe helps business owners, investors, and first-time homebuyers build and protect family wealth with creative financing and tax-efficient life insurance solutions. He is an award-winning mortgage agent and life insurance agent in Ontario. David believes education in personal finance and seeking great advice is the best way to reach our financial goals, and he is focused on sharing his knowledge with others. He lives in Guelph, Ontario with his wife Kate Pipe and their triplets (and english bulldog Myrtle).

https://www.wealthtrack.ca/about#about-david-pipe
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