My husband and I found Bill very down to earth and easy to talk to. He explained the whole process of refinancing our home to us. He always made time to respond to our questions or concerns within a day. Even though there were a few hiccups along the way (he was not at fault) he remained professional and did everything in his power to ensure we were happy. I definitely will be recommending him to my friends and family.
VISLAND MORTGAGES
RATED NANAIMO'S
TOP MORTGAGE BROKER SINCE OPENING OUR DOORS
About VIsland Mortgages
Vancouver Island Mortgage is now in full swing with a highly skilled Team that has the capacity to grow the business to new heights.
Bill Fraser
Your Personal Mortgage Advisor
Bill has over 19 years working in the financial industry. Due to his extensive experience and knowledge he works efficiently with all lenders including: banks, credit unions, trust companies, financial institutions and mortgage investment companies. He is also able to offer his clients a variety of choices within his hundreds of products and services offered. These products include mortgages for purchasing new homes or investment properties, refinancing existing homes, debt consolidation, home equity line of credit, second homes, commercial as well as alternative or private lending. There is always an option when you deal with Bill Fraser!!
A 60 second introduction video to VISLAND Mortgages
VIsland Mortgages Receives Award
for
'3 Best Mortgage Brokers in Nanaimo, BC'
Bill Fraser & VIsland Mortgages is a proud to partner and support local organizations
Services
As a mortgage professional it's my job to be the go-between between you and a mortgage lender. I make sure that you know all the products available to you, and are equipped with the knowledge to make the best decisions for you and your family.
Flexible Mortgages
As your life can change at any time, I offer a wide range of flexible mortgage products.
Qualified Advice
As a licensed mortgage expert, I'll listen to your needs and answer your questions.
No Cost to You
There are no fees for my services, once you find the perfect product, the lender pays me a commission.
Advocacy
I commit to working on your behalf
to find you the best mortgage for your needs.
Download My Mortgage Toolbox
Access the calculators in 3 easy steps
- Add your phone number below
- Download the app
- Create an account
WHAT CAN YOU DO WITH MY APP
- Calculate your total cost of owning a home
- Estimate the minimum down payment you need
- Calculate Land transfer taxes and the available rebates
- Calculate the maximum loan you can borrow
- Stress test your mortgage
- Estimate your Closing costs
- Compare your options side by side
- Search for the best mortgage rates
- Email Summary reports (PDF)
- Use my app in English, French, Spanish, Hindi and Chinese
I'M A CERTIFIED REVERSE MORTGAGE SPECIALIST
Let's see if a reverse mortgage is right for you.
LEARN MORE
Lenders
I've developed excellent relationships with
over 90 lenders across the country.
Let's figure out which one has the best product for you.
Testimonials
Bill is an amazing mortgage broker! He turned what could have been a very confusing, stressful process into a seamless, informative and positive experience. As first time home buyers with unusual circumstances, Bill’s availability and accessibility answering our many questions, to keep our minds at ease, was immeasurable. His encouraging, honest, helpful nature mixed with his abundance of knowledge is what allows us to enjoy our immaculate view in our dream home. Thank you Bill for being a prevalent part of our dream come true!!
Shannon and Ashley Hughes
This morning we were able to go take a picture of the sold sign at our first home! We are so thankful for Bill Fraser at Dominion Lending Centres for everything he did to make our dream of buying our first home a reality. Bill, you have made this process so easy and enjoyable for us. You will surely be the first person we recommend to everyone we know that is looking to buy a home or renew their mortgage. We can’t thank you enough for everything you have done to make our dreams possible!
Sam and Nick
Not only did Bill get us the best rate, but his honesty and diligence with providing answers to our questions was exceptional.
Thank You Bill.
Thank You Bill.
Jamie and Vaughn
Hi Bill, I had to write you something to let you know how happy and excited I am that you got me approved for a bigger, more beautiful house than I already have! After getting turned away/almost laughed at by RBC, it was my son Brad who told me to try the “new way” of getting financing, a broker! Very happy I took his advice, as within 48hrs you notified me that it was APPROVED!! I couldn’t be happier with your service and am further understanding why so many people are getting away from their banks and using a much more affordable, and easier way of getting approved through the broker channel.
Thanks again.
Thanks again.
Shirley McMillan
To Bill Fraser – The Miracle Man!!
Bill, just wanted to send you a quick note of appreciation for your dedication to get me into my very first home! I did not think with my income and the little credit I have, that you would be able to pull this deal off. I have heard you are considered the “Miracle Man” around the island and it sure seems to be true!!!! Lol
Thanks so much, and I am proud to refer you to my family and friends all over BC!!!
Bill, just wanted to send you a quick note of appreciation for your dedication to get me into my very first home! I did not think with my income and the little credit I have, that you would be able to pull this deal off. I have heard you are considered the “Miracle Man” around the island and it sure seems to be true!!!! Lol
Thanks so much, and I am proud to refer you to my family and friends all over BC!!!
Juanita LeMarquand
Mortgage Blog
Did you know there’s a program that allows you to use your RRSP to help come up with your downpayment to buy a home? It’s called the Home Buyer’s Plan (or HBP for short), and it’s made possible by the government of Canada. While the program is pretty straightforward, there are a few things you need to know. Your first home (with some exceptions) To qualify, you need to be buying your first home. However, when you look into the fine print, you find that technically, you must not have owned a home in the last four years or have lived in a house that your spouse owned in the previous four years. Another exception is for those with a disability or those helping someone with a disability. In this case, you can withdraw from an RRSP for a home purchase at any time. You have to pay back the RRSP You have 15 years to pay back the RRSP, and you start the second year after the withdrawal. While you won’t pay any tax on this particular withdrawal, it does come with some conditions. You’ll have to pay back the total amount you withdrew over 15 years. The CRA will send you an HBP Statement of Account every year to advise how much you owe the RRSP that year. Your repayments will not count as contributions as you’ve already received the tax break from those funds. Access to funds The funds you withdraw from the RRSP must have been there for at least 90 days. You can still technically withdraw the money from your RRSP and use it for your down-payment, but it won’t be tax-deductible and won’t be part of the HBP. You can access up to $35,000 individually or $70,00 per couple through the HBP. Please connect anytime if you’d like to know more about the HBP and how it could work for you as you plan your downpayment. It would be a pleasure to work with you.
If you’ve been thinking about selling your existing property, for whatever reason, it would be in your best interest to connect with an independent mortgage professional before calling your real estate agent or listing it yourself. And while talking with your mortgage professional might not sound like the most logical place to start, here are a few scenarios that explain why it makes the most sense. If you’re buying a new property If you’re selling your property, chances are, you’ll have to move somewhere! So, if you plan on buying a new property using the equity from the sale of your existing property, chances are you’ll need a new mortgage. Don’t assume that just because you’ve secured mortgage financing before, that you’ll qualify again. Mortgage rules are constantly changing; make sure you have a pre-approval in place before you list your property. Also, by connecting with a mortgage professional first, you can look into your existing mortgage terms. You might be able to port your mortgage instead of getting a new one, which could save you some money. If you’re not buying a new property Even if you aren’t buying a new property and want to sell your existing property, it’s still a good idea to connect with a mortgage professional first, as we can look at the cost of breaking your mortgage together. Unless you have an open mortgage, or a line of credit, there will be a penalty to break your mortgage. The goal is to work on a plan to minimize your penalty. Because of how mortgage penalties work, sometimes it’s just a matter of waiting a few months to save thousands. You'll never know unless you take a look at the details. Marital breakdown The simple truth is that marriages break down. When that happens, often, people want closure, and unfortunately, they make decisions without really thinking them through or seeing the full picture. So, instead of simply selling the family home because that feels like the only option, please know that special programs exist that allow one party to buy out the former spouse. The key here is to have a legal separation agreement is in place. If you’d like to discuss the sale of your property and your plans for the future, connect anytime. It would be a pleasure to work with you!
In recent years, housing affordability has become a significant concern for many Canadians, particularly for first-time homebuyers facing soaring prices and strict mortgage qualification criteria. To address these challenges, the Canadian government has introduced several housing affordability measures. In this blog post, we'll examine these measures and their potential implications for homebuyers. Increased Home Buyer's Plan (HBP) Withdrawal Limit Effective April 16, the Home Buyer's Plan (HBP) withdrawal limit will be raised from $35,000 to $60,000. The HBP allows first-time homebuyers to withdraw funds from their Registered Retirement Savings Plan (RRSP) to use towards a down payment on a home. By increasing the withdrawal limit, the government aims to provide young Canadians with more flexibility in saving for their down payments, recognizing the growing challenges of entering the housing market. Extended Repayment Period for HBP Withdrawals In addition to increasing the withdrawal limit, the government has extended the repayment period for HBP withdrawals. Individuals who made withdrawals between January 1, 2022, and December 31, 2025, will now have five years instead of two to begin repayment. This extension provides borrowers with more time to manage their finances and repay the withdrawn amounts, alleviating some of the immediate financial pressures associated with using RRSP funds for a down payment. 30-Year Mortgage Amortizations for Newly Built Homes Starting August 1, 2024, first-time homebuyers purchasing newly built homes will be eligible for 30-year mortgage amortizations. This change extends the maximum mortgage repayment period from 25 years to 30 years, resulting in lower monthly mortgage payments. By offering longer amortization periods, the government aims to increase affordability and assist homebuyers in managing their housing expenses more effectively. Changes to the Canadian Mortgage Charter The government has also introduced changes to the Canadian Mortgage Charter to provide relief to homeowners facing financial challenges. These changes include early mortgage renewal notifications and permanent amortization relief for eligible homeowners. By implementing these measures, the government seeks to support homeowners in maintaining affordable mortgage payments and mitigating the risk of default during times of financial hardship. The recent housing affordability measures announced by the Canadian government are aimed at addressing the challenges faced by homebuyers in today's market. These measures include increasing withdrawal limits, extending repayment periods, and offering longer mortgage amortizations. The goal is to make homeownership more accessible and affordable for Canadians across the country. As these measures come into effect, it's crucial for homebuyers to stay informed about the changes and their implications. Consulting with a mortgage professional can help individuals explore their options and make informed decisions about their housing finances. If you're interested in learning more about these changes and how they may affect you, please don't hesitate to connect with us. We're here to walk you through the process and help you consider all your options and find the one that makes the most sense for you.
