My Rates

6 Months 3.10%
1 Year 2.64%
2 Years 2.54%
3 Years 2.84%
4 Years 2.94%
5 Years 2.99%
7 Years 3.69%
10 Years 4.09%
*Rates subject to change and OAC
Tom Shore Mortgage Consultant

Tom Shore

Mortgage Consultant

109-3550 Saanich Rd, Victoria, British Columbia








It PAYS to shop around.

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

4 Credit Score Myths Busted

Your credit score is a three-digit number ranging from 300-900 that tells future lenders how risky it is to lend you money based on your history of making debt payments. There are many misconceptions about what it takes to keep your score high. Henrietta Ross, the CEO of the Canadian Association of Credit (CACCS) to help us sort fact from fiction: Myth 1: You must use major credit cards to build a good score. Truth: If you're unable to obtain a major credit card, there are other ways to build your credit history. Making regular payments on installment loans such as a car lease can positively affect your score, as do department-store cards and secure credit cards, which require a cash deposit in the amount of the credit limit. Myth 2: You can't make up for mistakes such as late payments. Truth: It takes time, but your credit will become positive as you build consistency with timely payments, Ross says. How much time it will take depends on a number of factors, including how long the 'late payment' has been on your record and how long you've had the debt. Myth 3: Paying cash boosts your score. Truth: You need to use credit in order to demonstrate your ability to make payments. Using credit at least once every 30 days and making payments on time will keep you in good standing, says Ross. Myth 4: I will not qualify for a mortgage if I've had a poor credit score. Truth: Lenders look at your entire financial picture, including your assets, available cash flow, and debt-to-income ratio. They'll also review your housing expense-to-income ratio, which is a comparison of your expected monthly mortgage payment with your gross monthly income. For more information about how your credit score will affect your mortgage, please contact Tom! Source: News Canada

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.


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