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My Rates

6 Months 2.09%
1 Year 1.49%
2 Years 1.64%
3 Years 1.69%
4 Years 1.74%
5 Years 1.35%
7 Years 2.74%
10 Years 2.95%
6 Months Open 5.75%
1 Year Open 3.45%
*Rates subject to change and OAC
AGENT LICENSE ID
10505
BROKERAGE LICENSE ID
10505
Lou Salvino President

Lou Salvino

President


Address:
7500 Martin Grove Road, Unit 7, 2nd Floor, Vaughan, Ontario

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     For the financial support and consulting solutions you can rely on, more of today’s smart consumers are choosing VERICO The Financial Forum Ltd. over any other financial services firm period. We are the only firm of our kind that works laterally with our clients every step of the way; if you want dedicated financial services designed to meet your mortgage lending and financing needs, trust VERICO The Financial Forum Ltd. To show you what we can do for you today.

visit our main website at www.thefinancialforum.ca

 

The Financial Solutions You Need

     Headquartered in Vaughan (Woodbridge), Ontario and serving consumers throughout Ontario and Canada, VERICO The Financial Forum Ltd. was founded under the principle of offering our clients real-world solutions to all of their mortgage lending needs. We are not affiliated directly with any lending institution which enables us to provide our clients with a completely unbiased opinion as to which company offers the best products, services and rates to suit their particular needs and wants. Partner with us today and experience the difference quality and service can make for you.

Our Philosophy

     Our team of experienced professionals strive to provide a higher level of service and support that our clients can’t get anywhere else. We have the ability to customize our financial consultancy services to offer as much support as needed to ensure our clients’ financial requirements are met and their expectations exceeded. VERICO The Financial Forum Ltd. offers the best value combined with the support of our creative minds to create a lending solution that will suit your needs. Contact us today for a free consultation and learn what we can do to help solve your mortgage lending needs.

     VERICO The Financial Forum Ltd. showcases the best value for the money mortgage lending solutions specializing in residential, investment property, recreational property, lines of credit as well as first and second mortgages. We have been helping consumers since 1984, let us help you today!

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     To learn more about VERICO The Financial Forum Ltd.  and our world-class financial services consultation, contact us today and let one of our experienced professionals assist you and answer any questions you might have.


BLOG / NEWS Updates

Mortgage Deferral Agreements and Their Impact

CMHCs Fall 2020 Residential Mortgage Industry Dashboard discusses mortgage deferral agreements and their impact. At the end of the second quarter, credit unions, mortgage finance companies (MFCs) and mortgage investment entities (MIEs) have allowed mortgage deferral agreements for about 6%, 7% and 7% of their respective residential mortgage portfolios. Chartered banks have allowed 16% of mortgages to go into deferral since the beginning of the pandemic. Of these, close to 2 out of 3 borrowers had resumed payments on their mortgages at the end of the third quarter of 2020. In the coming months, we could see higher delinquency rates if some borrowers are unable to resume their payments; these mortgages will have to be booked as arrears. These deferral agreements have affected financial institutions cash flows, with reductions of: 4% in scheduled mortgage payments 3% in non-scheduled payments (accelerated monthly payments and lump-sum payments) While remaining at low levels, mortgages in arrears (90 or more days delinquent) have increased slightly between the first and second quarters of 2020 from: 0.24% to 0.26%, on average, for chartered banks 0.23% to 0.25%, on average, for non-bank mortgage lenders We also observe an increase in early-stage delinquencies (31 to 59 days and 60 to 89 days), which suggests that arrears could continue on an upward trend. Source: CMHC

Bank of Canada will maintain current level of policy rate until inflation objective is achieved, continues its quantitative easing program

The Bank of Canada today maintained its target for the overnight rate at the effective lower bound of percent, with the Bank Rate at percent and the deposit rate at percent. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week. The rebound in the global and Canadian economies has unfolded largely as the Bank had anticipated in its October Monetary Policy Report (MPR). More recently, news on the development of effective vaccines is providing reassurance that the pandemic will end and more normal activities will resume, although the pace and breadth of the global rollout of vaccinations remain uncertain. Near term, new waves of infections are expected to set back recoveries in many parts of the world. Accommodative policy and financial conditions are continuing to provide support across most regions. Stronger demand is pushing up prices for most commodities, including oil. A broad-based decline in the US exchange rate has contributed to a further appreciation of the Canadian dollar.

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