Whistler Real Estate Co Ltd, #137- 4370 Lorimer Road, Whistler, BC V0N 1B4

The Whistler Mortgage Company has been able to establish a secure source for financing Phase 2 properties in Whistler.  The details are as follows:

65% Maximum Loan-to-Value Ratio

One time 2.5% Fee payable to the lender, which is similar to a CMHC insurance fee

Interest rate will be in the range of 6.5% to 7% for a 3 year term  (this is close to the current posted rate for 3 year mortgages)

Square footage minimum is still 500 sq. ft. but the lender has given us every indication that they will approve the smaller units on an exception basis.

Available for Canadians, US Citizens and UK Residents.

We know that in the past that we have had an easier time of getting financing for Phase 2’s, but the times have changed.  We would suggest that you embrace these new rates and fees in your sales pitch to the prospective buyers.  This will make it easier on every one as they will not have the expectation of getting fully discounted rates from the major banks.  If both the realtors and the mortgage brokers treat the financing of Phase 2’s as “normal” at these rates and conditions, there will be less resistance by the consumer.  US and UK purchasers are used to paying fees, and if you explain it to Canadians as similar as CMHC fees, the resistance may drop.

Call us if you would like more information or if you have a client who is looking for this or any other type of financing!

Regards

Roger Stacey                                                                Wanda Chalk

BComm. LLb., AMP                                                       Licensed Mortgage Broker

Whistler Mortgage Company Ltd.                                Whistler Mortgage Company Ltd.

PO Box 1276, Whistler BC, V0N 1B0                              PO Box 1276, Whistler BC, V0N 1B0

Phone:  604-935-5600                                                    Phone:  604-932-8862

E-mail:  roger@whistlermortgage.com                              E-mail:  wanda@whistlermortgage.com