Ramandeep Jassal - Mortgage Alliance

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Calgary, AB
Ramandeep Jassal - Mortgage Alliance

“Ramandeep Jassal, Mortgage Associate. Lending Advisors, an independently owned and operated franchise of Mortgage Alliance.

Franchise Address: 202-10114 156 Street NW, Edmonton, AB T5P 2P9”

12/18/2023

If your mortgage is coming up for renewal, you need to start preparing for higher rates. Two tips to help you get ready are:

1. Take advantage of your prepayment privileges and increase your payment amount. You will pay down more principal and be accustomed to paying a higher amount at renewal.

2. Watch your bad debt. Be cautious about any credit card or other high-interest debt.

It is not about panicking; it’s about being prudent. Reach out to determine your best strategies.

12/13/2023

Rather than purchasing an existing home, a construction loan allows you to borrow money to have your own home built for you. This allows you to construct your own home from the ground up.

Homebuilding loans differ from ordinary mortgages in terms of loan length and loan availability.

Here are a few quick tips on construction loans 🛠:

📌Construction loans enable you to fund the construction of unique residences.

📌You do not receive the entire mortgage amount straight front. Instead, four payments are made with each building milestone.

📌Construction loan rates are often higher than regular loan rates.

For more information on construction loans, reach out.

12/04/2023

With the higher interest rate environment we are currently in, a solution to lowering your monthly mortgage payment could be extending your amortization. Extending your amortization will stretch your mortgage repayment schedule out, which can potentially lower your monthly payment.

Reach out to see if this is a good solution for you.

11/27/2023

If you have an insured mortgage with CMHC, Sagen, or Canada Guaranty, you are exempt from the Stress Test when switching lenders. As a mortgage borrower, this gives you more choice vs. a ‘take it or leave it’ scenario.

Reach out to explore your options.

11/21/2023

Finding a co-signer for your mortgage is a great solution, but not everyone is comfortable taking on that responsibility. Below are three alternatives to having a co-signer on your mortgage:

1. Receiving a gifted down payment. Depending on the amount, a gifted down payment might be exactly what is needed to help qualify for a mortgage without needing a co-signer.

2. Getting a joint mortgage. Joint mortgages are popular with parents helping their children buy a first home. They give both parties equal responsibility to make payments. In return, all parties get equal ownership of the home.

3. Using buyer assistance programs like the First Time Home Buyers Incentive, the Home Buyers’ Plan, or the First Home Savings Account.

For more information, reach out for a free consultation.

11/15/2023

Purchase + Improvements is ideal for the person looking to purchase a home with great potential but needs a little extra work. It allows you to incorporate the renovation costs into your mortgage upon purchase.

Reach out to learn more and see if this product is right for you.

11/09/2023

You can improve your ability to qualify for a mortgage. To get an idea of what strategies will work best for you, reach out as early as possible in the process to start the conversation. Being as prepared as possible will reduce stress and possibly save you money.

Five ways to improve mortgage qualifying success👇

1. Help from parents – co-sign, gifted down payment
2. Pay off debt
3. Polish your credit
4. Put down a larger down payment
5. Get advice early

10/30/2023

If your mortgage is coming up for renewal this year, don’t panic. Reach out to explore your options. I have access to over 60 lenders and will be able to run your numbers to see what term is best for you. Plus, my services are free!

10/24/2023

If you currently have consumer debt on a line of credit or credit card, it may be beneficial for you to consider refinancing your mortgage to pay off this high-interest debt.

By consolidating your high-interest loans, you have the potential to save thousands of dollars and increase your available cash each month. It's worth exploring this option to improve your financial situation.

10/18/2023

It is a common misconception that you need to put down 20% of the home’s purchase price as a down payment. While 20% down allows you to avoid mortgage loan insurance, many lenders offer mortgage programs with lower down payment options.

If your home will be owner-occupied, then you need 5% down for the first $500,000 of the purchase price, and 10% for any amount over $500,000 up to $999,999. If the purchase price is $1,000,000 or more, the minimum down payment is 20%.

If you have any questions about the down payment options available to you and how to use them, reach out. I’m here to help, and my services are free.

10/11/2023

Reach out to discuss a rate hold. A rate hold is when you secure your interest rate for a period of time while you shop for a house or renegotiate your mortgage.

The next Bank of Canada interest rate announcement is October 25th. In the event rates rise, you can take advantage of the rate you locked in.

10/05/2023

If your mortgage is coming up for renewal, you must prepare for higher rates. It is not about panicking; it’s about being prudent. Here are three strategies you can implement to get ready:

1. Take advantage of your prepayment privileges and increase your payment amount. You’ll pay down more principal and be accustomed to paying a higher amount at renewal.

2. Watch your bad debt. Be cautious about any credit card or high-interest debt.

3. If you are considering moving to a new home, get a pre-approval to protect you while shopping around. Consider not borrowing the maximum amount your lender will allow.

The best thing to do is get advice early. Reach out, and let's determine your best personal strategies to prepare.

Address

202, 10114/156 Street NW
Calgary, AB
T5P2P9

Telephone

+14039783095

Website

https://www.mortgagealliance.com/en/RamandeepJassal

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