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My Rates

6 Months 3.10%
1 Year 2.34%
2 Years 2.14%
3 Years 2.34%
4 Years 2.59%
5 Years 2.64%
7 Years 3.24%
10 Years 3.79%
*Rates subject to change and OAC
AGENT LICENSE ID
079650
Tom Shore Mortgage Consultant

Tom Shore

Mortgage Consultant


Phone:
Address:
103-3550 Saanich Rd, Victoria, British Columbia

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Many Canadian homeowners pay too much for their homes because they are not getting the best mortgage financing available in the market.

The mortgage process can be intimidating for homeowners, and some financial institutions don't make the process any easier.

I’m here to help!

I’m a Mortgage Depot consultant, an independent, unbiased, expert, here to help you move into a home you love.

I have access to mortgage products from over forty lenders at my fingertips and I work with you to determine the best product that will fit your immediate financial needs and future goals.

Mortgage Depot is partnered with Verico Financial Group.  We are specialists, Canada’s Trusted Experts who will be with you through the life of your mortgage.

I save you money by sourcing the best products at the best rates – not only on your first mortgage but through every subsequent renewal. So whether you're buying a home, renewing your mortgage, refinancing, renovating, investing, or consolidating your debts — I’m the VERICO Mortgage Consultant who can help you get the right financing, from the right lender, at the right rate.

BLOG / NEWS Updates

Canadian Household Debt and What it Means To Us

The latest reading by Statistics Canada puts Canadians' household debt-to-income level at a whopping 164.7%. That means on aggregate debts (short and long term) Canadians owe nearly $1.65 for every after-tax dollar they earn. Canadians may feel uneasy at the attention this number is receiving, but keep in mind that the majority of household debt comes from mortgages which are long term debts paid over the amortization period, not monthly. So, for example, a family with a $300,000 mortgage and after-tax income of $100,000 has a debt-to-income level of 300%. That's perfectly acceptable result in today's market because the entirety of the mortgage isn't owed all at once. Right now Canadians pay a little less than 8% of their after-tax income in interest charges. That's actually down from nearly 9% back in 2000. A major concern is that when interest rates rise will we be able to afford our debt payment that goes along with the increased rate. We can do two things to ensure our financial safety. First look at our household budget. How much you can afford in ongoing monthly payments? Those payments need to include items such as funds going to investment accounts, utilities, mortgages, loans, credit cards, lines of credit, monthly allocation for property and income tax, various insurances and of course, food, clothing and incidentals. Before making a large purchase decide how much is the maximum payment you are willing to carry. In all cases assume the interest rate is at least 3% higher than advertised. You will now have a solid base to work from when looking at your lifestyle, especially after rates go back up. The second part of the formula is to ensure all monies to be spent within the month that are not within the debt structure that has been budgeted for, if charged to a card or line of credit, are paid in full each and every month. None the less, the best debt is the one that has been paid-off. And the inevitable rise in interest rates that lies ahead makes the current, sustained period of low rates an excellent time to eliminate as much debt as possible.

Pedestrian Safety

Watching Canada's Worst Driver then reading the following suggestions made me think of my own driving and walking habits. We are now well into the dark days and evenings of winter. Our roads are more dangerous for pedestrians and drivers. Traffic is heavier because more people choose to drive rather than bike or walk now that our weather is colder and wetter. The poorer visibility makes it more difficult for drivers to see pedestrians, especially during morning and afternoon rush hours. The BCAA Road Safety Foundation offers suggestions to help drivers and pedestrians stay safe this fall. For Drivers Slow down. The faster you travel the longer it will take to stop. Give yourself more time to react to a situation by driving 10 km slower and allow more time to reach your destination. Reduce speed in rain. Heavy rains after a prolonged dry spell tend to bring oil to the surface of the road and create large pools making roads slick and making vehicles susceptible to hydroplaning. Stop. Come to a full stop at designated intersections then proceed slowly. Be careful of slippery road surfaces. Fallen leaves retain large amounts of water and can create a slippery surface that can be just as treacherous as patches of ice. Drive slowly through them and avoid hard or panic braking. Turn your headlights on. Most daytime-running light systems don’t automatically illuminate the taillights. Make sure your windows are clear. Wipe away snow or frost, defrost interior and change windshield wiper blades before their effectiveness is reduced. Watch for children. Reduce your speed in residential areas and around schools and parks. Children often dart out from between parked cars or into intersections. Avoid talking on your cell phone. It is against the law and it seriously impairs your reaction time. Do not drive while impaired. Fatigue is a form of impairment so get plenty of sleep and if you’ve consumed alcohol or drugs, find alternate transportation such as a designated driver, taxi or transit. For Pedestrians Wear light coloured clothing. Light or reflective clothing will make you more visible in dark conditions. Carrying a flashlight will also make you more visible and helps you see your way in the dark. Use intersections. Always cross at a designated intersection. Looking both ways and make eye contact with drivers so they know you are there before you cross. Never step out from between parked cars. Plan the walking portion of your commute along well-lit streets. If there is no sidewalk. Always walk facing traffic and as far off the road as possible. Avoid talking on your cell phone particularly when crossing the street.

MY LENDERS

TD Bank Scotia Bank First National B2B Bank Home Trust
MCAP Merix Industrial Alliance Optimum Canadiana Financial
Equitable Bank ICICI Bank Fisgard Capital  RMG Mortgages Street Capital