Mortgage Products & Services

VERICO The Financial Forum Ltd.

Whether you are a first-time home buyer or an experienced real estate investor, our comprehensive services are designed to provide you with a complete spectrum of mortgage products and financing solutions. We guide you through the home buying and financing process with sound, knowledgeable advice to meet your specific financial and lifestyle needs and requirements. Our mortgage products and services include:

  • No Charge Mortgage Service**
  • First Time Home Buyers**
  • No Money Down Mortgage
  • Pre-Approvals
  • Home Buyer’s Plan (RRSP)
  • No Cost Mortgage Transfers for Existing Home Owners**
  • Unique Mortgage Requirements
  • Commercial and Industrial Mortgages
  • Prime Customer = Prime Rates
  • Best Rates, Best Terms
  • Second Mortgages
  • Debt Consolidation
  • Mortgages for Self-Employed
  • No Income Mortgage

Apply Now

Getting started with your mortgage application has never been easier at VERICO The Financial Forum Ltd. You can apply from the comfort of home using our secure online mortgage application at any time, or submit an application by fax, email, or in person. Once we receive your application, we will process your request immediately so you can start the house hunt right away or put in an offer if you’ve already found your dream home.

Though we specialize in home purchases and first-time home buyers, that is just the start. We arrange mortgages for existing homeowners, investment properties, second/vacation homes, industrial properties, and commercial properties.

Whether you wish to refinance, renew, break your mortgage, access equity to finance a home renovation, or consolidate your debt, we have the knowledge and network to secure the right financial solution for you. If your mortgage is coming due for renewal we offer a Free Mortgage Transfer** program. If you come from a non-traditional background and are seeking a self-employed mortgage or no-income mortgage, we can help you access financing. No matter your needs, you can apply online now!

**O.A.C. – To qualified applicants

No-Charge Mortgage Service

VERICO The Financial Forum Ltd. is a licensed mortgage brokerage firm. For qualified applicants, this allows us to negotiate mortgages on your behalf and be paid for doing so by any one of our mortgage lenders. On qualified mortgages, our services are completely paid for by our lenders, who will ultimately become your lender. We do not receive any compensation whatsoever until the transaction is complete. You must be satisfied with their mortgage offer and accept their rate, terms, and conditions, which we always provide to you in writing. If you don’t accept a mortgage offer from us, there is absolutely no charge to you. If you do accept a mortgage offer, there is still no charge to you. You receive the best rates, terms, and conditions at no cost, risk, or obligation.

Pre-Approvals

Before you start the search for a home, we can obtain a mortgage pre-approval on your behalf. Securing a mortgage pre-approval will lock in a mortgage at a fixed rate for a specified period of time should you choose to make an offer on a home. Now, you know your payments and options before you make an offer. With mortgage pre-approval in hand, you can concentrate your search on homes within your pre-approved price range. This will save you time from looking at homes beyond your mortgage limit, while also giving you additional purchasing advantages that other prospective buyers may not have should you choose to make an offer. Start your house hunt with a clear overall financial picture.

Home Buyer’s Plan

The Home Buyers’ Plan (HBP) is a Canada Revenue Agency program designed to make a first home purchase easier and more attainable for the average Canadian. The HBP enables home buyers to withdraw up to $25,000 from registered retirement savings plans (RRSPs) to facilitate the purchase or construction of a principal residence as a first-time home buyer for you or a relative who is disabled.

Qualifying properties include homes, townhomes, apartments, condos, mobile homes, or any other kind of new build or existing housing unit, as long as it is located in Canada. First-time home buyers are classified as those who have never owned a home; you are also considered a first-time home buyer if you have no occupied a home owned by you, your current spouse, or your common-law partner in the preceding four-year period.

You can make withdrawals from multiple RRSPs, but you must be the owner. Your RRSP issuer will not withhold tax on these amounts withdrawn. Generally, you will not be permitted to withdraw funds from a locked-in RRSP.

Your repayment period begins in the second year after withdrawal, and you have up to 15 years to repay the amount withdrawn from your RRSP. You do not have to include eligible withdrawals in your income when you withdraw funds from your RRSP under the HBP.

You must purchase or construct the home before October 1 of the year after the year of the withdrawal. For example, if you withdrew funds from your RRSP in February, you must purchase or construct the home prior to October 1st of the same year.

To participate in the program, you must meet both the HBP eligibility and RRSP withdrawal conditions as stipulated by the Canada Revenue Agency. VERICO The Financial Forum Ltd. can guide you through the qualification criteria to ensure you meet all of the conditions.  Certain conditions must be met before you can withdraw funds from your RRSP under the HBP.

Down Payments

You can purchase a home with zero or little money down. VERICO The Financial Forum offers various programs to allow easy entry into the GTA real estate market.

About Pre-Approvals

If you are thinking about buying a new home, you should obtain mortgage pre-approval to simplify the house hunting process. This provides at least three important advantages:

  • You can obtain a fixed rate for a specific period of time. We offer up to 120-day fixed rate guarantee. The fixed rate protects you against rate increases, but if the rate drops, you are given the lower rate.
  • Mortgage pre-approval provides you the opportunity to negotiate a better purchase. Whether sellers have just one offer on the table or a bidding war, they want to deal with individuals prepared with their mortgage financing. You will be a very attractive potential buyer with mortgage pre-approval secured.
  • The pre-approval process is when we identify what products, rates, and terms are available to you and which would be optimal for your needs We evaluate short and long-term goals and present you with a range of options that you can choose before entering into a purchase negotiation.

No-Cost Mortgage Transfers for Existing Home Owners**

When your mortgage is up for renewal, it’s time to explore your options and discover if there are better rates, terms, or conditions available to you by switching or transferring your mortgage to another lender. Avoid making a wrong decision at this critical juncture that could limit your financial flexibility and comfort.

In typical cases, your existing mortgage lender will send your renewal notice approximately 30 days before the maturity date of your mortgage. This renewal notice will offer you the opportunity to choose a different term, different payment frequency, and lock in your rate.

Most homeowners simply accept their renewal notices and return them to the mortgage lender instead of pursuing more favourable rates, terms, and conditions. This act alone can cost you an additional 1% on the interest rate alone, not to mention the missed opportunity in improved terms and conditions.

When your mortgage is up for renewal, don’t miss your chance to obtain the lowest mortgage rate on the market at the most favourable term with the best conditions. You will need to start this process about 120 days before the expiration of your mortgage. This is the best time period to obtain optimal rates, terms, and conditions.

Your existing lender may offer to renew your mortgage at a discounted rate, but you will never obtain the best rate unless you are prepared to shop around and explore your options. You will also never get the best rate if interest rates have already risen before your renewal notice arrived.

Many homeowners mistakenly believe that transferring their mortgage to a new lender will incur penalties or high fees. Many people also believe that if they switch to a new lender, they would incur fees for a lawyer, appraisal, and other associated costs.

In reality, you can transfer your existing mortgage at renewal without paying a cent in fees. That’s right – NO appraisal fee, NO legal fees, NO CHMC or G.E. Capital fees and NO brokerage fees to qualified applicants.

If your mortgage is coming due for renewal in the next 120 days, don’t wait for the renewal notice – take action. Give VERICO The Financial Forum Ltd. a call and let us handle this process on your behalf. We will guarantee you a new mortgage rate for 120 days prior to your mortgage renewal date. Should rates decrease during this period, you will still get the lowest rate available. If rates increase, we protect your rate.

Unique Mortgage Requirements

Day and in and day out, we help clients with unique requirements find the right mortgage solution. Declined for a mortgage by a lender? Can’t verify your income? Temporarily unemployed? We can help. Whether you are going through a separation or divorce, behind with mortgage payments or other creditor obligations, there are many unforeseen reasons that complicate financing. The mortgage experts at VERICO The Financial Forum Ltd. are able to assist many clients with non-traditional mortgage solutions, even when they could not obtain mortgage financing elsewhere. For the few individuals we could not assist, our mortgage specialists provided sound advice on how to better their position for mortgage qualification in the future. Upon following the advice, we were able to assist these individuals secure financing and take the next step toward homeownership.

There are many situations and lifestyles where you may need to look outside of tradition mortgage options. For instance, small business owners and self-employed Canadians often have difficulty obtaining mortgage financing. If you are a small business owner and have had credit problems in the past, you could have difficulty securing a mortgage. Small business owners may also have difficulty securing a mortgage to finance the purchase of a commercial property, industrial building, recreational property, rental property, vacant land, or to build a custom home.

Do you fall into any of these categories? Please get in touch with VERICO The Financial Forum Ltd. We can usually assist by leveraging our network of lenders to find the right fit for your unique situation. We also specialize in mortgage underwriting. We can tell your story to our lenders and negotiate on your behalf to achieve optimal results.

Investment Properties, Commercial and Industrial Mortgages, Vacant Land, Recreational Properties

Are you purchasing or refinancing a property aside from a primary residential home? VERICO The Financial Forum Ltd. can assist. We have arranged financial for a range of property types including:

Commercial buildings, restaurants, plazas, office buildings, retail stores with and without residential apartments attached, condominiums, garages, factories, warehouses, industrial properties, cottages, and more.

We have the expertise and mortgage products to assist you, whether you need prime or hard-to-place funds. Call or email us to discuss your needs.

Prime Customer = Prime Rates

It can be a challenge to obtain suitable mortgage financing. Save yourself the time and money shopping for a mortgage when we’re here to make the process easy and convenient. You can retain our services from the comfort of your home or office, while our mortgage professionals work tirelessly to negotiate on your behalf. We represent numerous lenders and are directly linked to them online. We deliver speedy, convenient, expert service with a small. We want to ease the stress and hassle as much as possible because we know what’s on the line. We give each application serious consideration and think outside the box to connect you with the right mortgage solution.

If you are a qualified applicant that meets our lenders’ basic lending criteria, we will lock in the best rate in the market at absolutely no cost to you. What is a qualified applicant? We cannot definitively answer this question as every applicant’s financial picture is different. Generally, qualified applicants have a reasonable credit rating and sufficient income to service the debt.

Best Rates, Best Terms

VERICO Financial Forum Ltd. is an independent, professional mortgage brokerage firm. We are licenced to act on your behalf and provide you with optimal consultation for your mortgage needs and financial picture. Our mortgage specialists are licenced, trained, and experienced. Day in and day out, we serve our clients with expert, personalized advice. We want you to be well-advised, and we want to save you money.

We will shop the mortgage market and offer you the best possible rates, terms, service, and mortgage options available. In addition to our services to finance home purchases, we also specialize in debt consolidation, mortgage refinancing and renewals, and no-money-down home loans.

Our mortgage services could save you thousands of dollars over the years on high interest charges and overpriced monthly payments. Best of all, many of our services are absolutely free to you. We find you the right mortgage and save you money.

Second Mortgages

Looking for a second mortgage for your home? We offer second mortgages up to 85% of your house value. We can assist with securing funds for rental properties, investments, renovations, or purchasing an additional home when GE Capital or CMHC high-ratio mortgage is not approved.

Debt Consolidation

Debt consolidation is a strategy to manage your cash flow, save on interest, and reduce debt more quickly and easily than otherwise properly. This refinancing strategy allows you to consolidate high-interest debts like credit card balances and car loans. You can also consolidate lines of credit and other loans into your mortgage. We will evaluate and discuss your options to find out if debt consolidation is right for you.

Obtaining a second mortgage is one option, but it is not necessarily the only option for you. An alternate option is to increase your existing mortgage to incorporate those debts and save on interest. This solution would offer great savings and simplify your financial picture.

Does debt consolidation sound right for you? Call VERICO The Financial Forum Ltd. to learn more about the terms, rates, and options best suited for your unique financial situation.

Mortgages for Self-Employed

Are you self-employed? It is a rewarding career choice, but it can present some unique financial challenges. VERICO The Financial Forum Ltd. understands the needs of the self-employed, and we believe you shouldn’t be punished for your entrepreneurial career choice. We understand your business financials and personal tax notice of assessments may not give the full picture. That’s why we look at your credit history, not your actual income.

We can find a mortgage product that works for you, whether you are looking to purchase a new property or refinance your existing mortgage for up to 95% of its appraised value.

Some restrictions apply. Please contact us for details.

No Income Mortgage

Neither your income nor your credit need to be perfect to qualify for a no-income mortgage. With at least 20% equity or 20% down, VERICO The Financial Forum Ltd. can obtain a mortgage for almost any credit situation or income level. You can arrange financial on a new property or refinance your existing home for up to 80% of its appraised value. The better your credit history, the better the rate you can secure.

Call 905-265-0246 or email mortgages@thefinancialforum.ca to learn more about our best home loans and mortgage solutions.


What people are saying

" Thank you so much for all of your help and expertise (and patience) over the past year. We’re finally moved into our new home and settling in. Without your help, this wouldn’t be..."

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