FSCO 13047
Valko Financial Ltd.

Honesty Integrity
Commitment Professionalism

Consumer Proposals – Too Good to be True?

From the desk of Matthew Shantz: While most of us are cooped up inside, one part of our bodies that is getting worked out more then ever are our thumbs. As we scroll through Facebook, Instagram and Twitter, mindlessly passing by ads for this and that. I have noticed a significant uptake in the number of ads on my personal accounts for “Debt Consolidation Products” and, interspaced evenly between Cooking Tutorials, DYI Face Masks, and Millionaires promising to give away their fortunes. Typically, I would pass these ads by, ignoring them as the unwanted, unsolicited, poor and misleading advice that they are. Except for today, today I decided to engage one to see what this was all about, and the realization hit me “People really are going to fall for this crap!” Most of them start off innocently enough “It Is Very Easy To Write Off The Complete Debt With …
Continue reading

Payday Loans – The First Step into Perpetual Debt

From the desk of Matthew Shantz: Many years ago, during a different time in my life, I found myself facing a cash shortfall. I literally had the change in my pockets to get me through to my next pay day. Credit Cards were maxed, Bank Account was in Overdraft and my cupboards had a few boxes of pasta and my fridge some nearly expired milk. I wasn’t sure how I was going to pay my rent – living in Toronto, that rent was not cheap – let alone how I was going to keep myself fed. So, I did what everyone does in that situation, and look for a quick source of money without having to share my plights and desperation with family or friends. I was ashamed and embarrassed and did not want to share that I had gotten myself into that situation. I worked full time and had …
Continue reading

Lock-In or Stay Variable?

Whether you already have a mortgage or are looking to get your first mortgage amid COVID-19, there are some things you should know regarding fixed and variable rate mortgages during this time. If you currently have a mortgage, you may have heard on the news about interest rates rising and you may be unsure of where you stand. It may seem confusing, but when it comes to mortgage rates and interest we are seeing things moving in both directions – rates are going up and going down simultaneously. Depending on the mortgage you currently have (fixed or variable) you may be experiencing different effects with regard to COVID-19 and may be unsure where you stand. Here are some things to know: Variable Mortgages Variable rate mortgages, which represent 1 in 4 mortgages in Canada, are driven by the Bank of Canada’s overnight lending rate. Having a low variable rate may …
Continue reading

To Defer or Not

To Defer or Not to Defer                   With Canada’s major Mortgage Finance Companies (MFC’s) and all six big banks offering mortgage deferrals of up to 6 months, as well as case-by-case options from credit unions, one of the major questions currently facing Canadians amid COVID-19 is do you defer your mortgage? To help you with this decision, we have gathered some important information on what it means to defer and the benefits (or side-effects) from doing so. For anyone who is unsure, a mortgage payment deferral means that customers are not required to make regular payments (principal, interest and property tax, if applicable) on their mortgage. In the case of COVID-19, this deferral period can be up to six months. As much as you may be keen on taking advantage of deferring your mortgage, it is essential to remember that this is …
Continue reading

COVID-19 Updates

COVID-19 UPDATES & WHAT HOMEOWNERS NEED TO KNOW At Dominion Lending Centres, we are deeply concerned about the Coronavirus – and we know you are too. Our thoughts and prayers go out to all the families and front line workers that are dealing with this around the world. We recognize that many homeowners may be looking for guidance around mortgage financing. We are committed to updating you – our customers – on the current climate and how the recent COVID-19 developments may impact your mortgage, now or in the future. We know that things may seem uncertain now, but we are working hard to gather all pertinent information and help you to understand your options during this difficult time. Please visit the DLC Information Centre for up-to-date information. Review our COVID-19 Resources under the COVID-19 dropdown. 

10 Things you CAN do right now – #COVID19

1. It is irresponsible for us to guess at how long the COVID-19 pandemic will be with us.  What we do know for certain is that until there is a vaccine developed it is going to be an issue and until there is an anti-viral treatment we will be in self-isolation. This is emotionally and mentally draining for people and it is ok, it is allowed to be. I truly feel it is important in order to ensure that a few things are taken care of while we are still able, in order to assist in reducing the stresses that you will feel: -Consolidate Debts to improve cashflow -Place a Secured Line of Credit on a property when available to help with any emergency situations that might come up -Take out equity if you feel you need some additional money set aside 2. If you have found your income negatively …
Continue reading

Recent Mortgage News

    CMHC commits additional $100bn to Insured Mortgage Purchase Program The agency expands its mortgage-buying program from the initial $50bn… Hundreds of thousands of homeowners seek mortgage payment deferral Canada’s big six banks report higher volumes of mortgage-related calls since relief plan was introduced…. A third of Canadians fear not meeting housing expenses due to COVID-19 Survey also says more than 40% lost their jobs or live with someone who has… Iqaluit condo owners see sharp rise in commercial insurance premiums Insurance companies being scared out of the city largely contributes to the increase…

Houses rising

Why Are Mortgage Rates Rising?

Over the past month, the Bank of Canada has lowered its overnight rate by a whopping 1.5 percentage points to a mere 0.25%. Many people expected mortgage rates to fall equivalently. The banks have reduced prime rates by the full 150 basis points (bps). But, since the second Bank of Canada rate cut on March 13, banks and other lenders have hiked mortgage rates for fixed- and variable-rate loans. That’s not what happens typically when the Bank cuts its overnight rate. But these are extraordinary times. The Covid-19 pandemic has disrupted everything, shutting down the entire global economy and damaging business and consumer confidence. No one knows when it will end. This degree of uncertainty and the risk to our health is profoundly unnerving.   Most businesses have ground to a halt, so unemployment has surged. Hourly workers and many of the self-employed have found themselves with no income for an …
Continue reading

We Are Here for You!

We can still be reached by email, phone, text and we are now utilizing video-conferencing to better serve you while we observe the order for social distancing. We are NOT shut down. We are doing everything we can to make sure that business continues to run smoothly and that your interests and concerns are made a priority. Stay home.  Be safe.  Let’s arrange a call or video chat. WE ARE HERE FOR YOU     We, as a team, are working responsibly and diligently setting up virtual appointments by phone and video call with those who have questions or concerns. Please feel free to contact us! We are #HereforYou Update from The Valko Team: With the current outbreak of COVID-19. we wanted to take this opportunity to let you know that The Valko Team is here to assist you with your mortgage needs and address any questions or concerns you may …
Continue reading

Why use a mortgage broker?

While the banks can only offer you their own mortgage products, we have access to hundreds of options from Canada’s largest banks, credit unions, trust companies, and financial institutions.

Plus countless other reasons, let us explain more.

Why a Broker?

We are highly recognized and awarded.

We take great pride in our commitment to our clients and we have been recognized for it! See why we are the leaders in the mortgage industry.

Learn More

Request a call

Please provide the best time to call so we can ensure that we schedule your call at a time when we can reach you.