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How Manulife Bank Select Works
Manulife Bank Select combines a mortgage with a high interest, full feature chequing account to bring your clients’ banking together in one convenient product.
Manulife Bank Select – High Ratio program
Target market |
First-time homebuyers with less than 20% of the purchase price of the home for a down payment or home owners with less than 20% equity in their home looking to transfer their mortgage and bank smarter. |
Loan to value (LTV) |
New Purchases:
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Maximum borrowing limit |
New Purchases:
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Minimum borrowing limit |
$100,000 |
Preferred lending areas |
Across Canada, excluding the territories |
Acceptable properties |
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Mortgage portions
Terms |
5 year fixed rate (closed) and 5 year variable rate (closed) |
Maximum Amortization period |
25 years |
Repayment options |
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Prepayment privileges
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Bank Account
Access to funds |
Full feature chequing account that allows clients to make deposits, transfer funds, write cheques, pay bills, make debit purchases and withdraw funds. Manulife Bank is a member of THE EXCHANGE® Network. This is a network of more than 3,300 ABMs across Canada that do not charge convenience fees to Manulife Bank Select account holders. |
Interest Rate |
High rate of interest on every dollar in the account. Visit manulifebank.ca for current rates. |
More info
Questions about Manulife One? Please contact us at
1-855-518-7546, or by email at banksales@manulife.com.