Whistler Mortgage Broker-Eileen Craig

05/28/2025

Yesterday, May 27, the Federal Government issued a press release that is very important for first time home buyers of new homes (and co-ops): a full GST rebate on homes under $1 million, and a partial rebate on homes between $1 million and $1.5 million.
The Excise Tax Act will be amended to provide a rebate to first time home buyers. In basic terms, it means that First Time Home Buyers will still pay the GST on the closing of a purchase of a qualifying home but will be eligible for a rebate of the full amount (up to $50,000).
The rebate is phased out in a linear manner from $1-1.5 million. So for example, a home that is $1.4 million would lose 80% of the rebate – in other words, it would still be eligible for a 20% ($10,000) rebate!

12/23/2024

Happy Holidays! As 2024 wraps up, I want to thank everyone in my community for an incredible year.

Wishing you a joyful holiday season and a wonderful New Year! 🎉

12/16/2024

Big Changes Ahead for Homebuyers! 🏠

The Canadian government just made a big move to help make homeownership more accessible in cities like Toronto and Vancouver. Starting December 15, 2024, the insured mortgage cap is raised to $1.5 million—meaning more homebuyers can access affordable mortgage insurance for higher-priced homes.✨

This is a game-changer for those looking to enter the market without a huge down payment.

➡️ Buy a $1.5M home with just $125K down! (Previous requirement: $300K)
➡️ 5% down for the first $500K, and 10% down for the rest!

And there's more... 30-Year Amortization Now Available!

Starting December 15, 2024, first-time homebuyers and those purchasing new builds can access 30-year amortizations on insured mortgages. This means lower monthly payments and more flexibility as you step onto the property ladder. 💥

Who's eligible?
➡️ First-time homebuyers (haven't owned a home in the past 4 years)
➡️ Those buying newly constructed homes

This change is designed to help ease the burden of today’s high interest rates.
Pro Tip: A 30-year term can help you increase your buying power by up to 10%!

Let's get you qualified. E-mail me at [email protected].

09/16/2024

Big proposed changes in the Canadian mortgage market this week! The availability of 30-year amortizations have been extended, and the cap on insured mortgage products has been raised to 1.5 million. This means first time home buyers will be able to reduce their down payment, and have a lower monthly mortgage fee, putting home ownership within reach for many Canadians.

Finance Minister Chrystia Freeland announced proposals Monday to expand the availability of 30-year amortizations and to raise the price cap for insured mortgages.

03/08/2024

Happy International Women's Day! Here's to all the amazing women in my circle, friends, daughters, sisters, colleagues and the ones I have yet to meet!

03/06/2024

As predicted the Bank of Canada left it's overnight rate unchanged at 5.00% which leave prime rate at 7.20%. Markets did not expect a change in todays rate but are hopeful that we will see a rate reduction in the next either in April or June.

01/24/2024

As expected the Bank of Canada held it's overnight rate at 5.00% keeping our Prime rate at 7.20% for the 4th consecutive meeting. Expectations are for the Bank of Canada to start cutting rates by mid year. With over 2 million borrowers expected to renew their mortgage this year, it might be wise to contact me and see what options are out there for you.

01/19/2024

A pre-approval does 3 very specific things for you:

1️⃣ It gives you the maximum dollar amount of a mortgage you could qualify for
2️⃣ It helps to estimate your mortgage payments
3️⃣ It locks in an interest rate for 60 to 130 days, depending on the lender

The one thing it doesn’t do: secure your financing!

There are usually a few business days required to secure financing for a new home purchase, but having a pre-approval in place makes this faster and easier for the buyer.

Were you pre-approved for your first home?

01/17/2024

Are you new here to connecting with me? I would love to share a little bit about me and why I love helping homeowners get the best rates for their mortgages.

Hello, my name is Eileen Craig, and I’m passionate about helping individuals and families achieve their dreams of homeownership.

As a seasoned mortgage broker with 25 years of experience in the industry, I specialize in providing personalized financial solutions tailored to your unique needs. Whether you’re a first-time homebuyer, looking to refinance, or exploring investment opportunities, I am dedicated to guiding you through every step.

I firmly believe that communication is key, so I’m here to answer your questions, address concerns, and provide expert advice to empower you in making informed decisions.

Contact me today, and let’s discuss how I can help you secure the right mortgage solution for your future.

If you’re new here, say hi 👋 below!

12/07/2023

In their final announcement of 2023, the Bank of Canada has decided to hold it's rate at 5%. So while that means we won't yet see a dramatic dip in interest rates quite yet, it doesn't mean there isn't a product out there that might work for you!

If your mortgage is coming up for renewal or you are ready to get into the market, get in touch because nothing makes me happier than helping my clients save money.

[email protected]
604-698-8983