Iqbal Singh Mortgage Alliance

Iqbal Singh Mortgage Alliance Helping my customers get their dream mortgage to match their dream home! Saving mortgage consumers $$$$ is what I specialize in. Lic #10530

Data released from the Office of the Superintendent of Bankruptcies shows that Canadians are having a hard time staying ...
06/05/2023

Data released from the Office of the Superintendent of Bankruptcies shows that Canadians are having a hard time staying on top of their debt. Consumer insolvencies saw a 20% Year over Year increase and have risen to the highest level since 2019.

If you are a homeowner carrying a large amount of consumer debt, it may make sense for you to refinance your mortgage to pay down high-interest debt and potentially free up more cash each month. Send me a message to explore your options.

Every homeowner was once a first-time home buyer, and Canada offers many programs to help first-time home buyers. Rangin...
05/29/2023

Every homeowner was once a first-time home buyer, and Canada offers many programs to help first-time home buyers. Ranging from incentive programs to rebates and tax credits, even down payment assistance.

Send me a message, and we will review all the available programs.

A rate hold will allow you to secure your interest rate so you can take your time house shopping. In the event rates ris...
05/23/2023

A rate hold will allow you to secure your interest rate so you can take your time house shopping. In the event rates rise, you will be able to take advantage of the rates available today. If rates drop, you can still secure the lowest rate available for you when you are ready to buy.

If you are considering buying over the next few months, now is the time to secure your rate.

According to the 2022 CMHC Mortgage Consumer Survey, 1 in 3 buyers financed their home with a gifted down payment. When ...
05/17/2023

According to the 2022 CMHC Mortgage Consumer Survey, 1 in 3 buyers financed their home with a gifted down payment. When the down payment is gifted, the purchaser needs to provide the lender with the below information:

📌 Relationship to the individual giving the money
📌 The amount of money being gifted
📌 The property the money is gifted for
📌 A statement specifying the money is a gift and does not need to be repaid
📌 Contact information of the person giving the money
📌 The source the funds are coming from

Specific requirements may vary depending on the lender. Reach out for more information.

A good credit score in Canada can make life easier – especially when you’re looking to purchase a home. To help make sur...
05/09/2023

A good credit score in Canada can make life easier – especially when you’re looking to purchase a home. To help make sure you get a great mortgage rate, here are the top three tips to help improve your credit score quickly.

Tip 1: Pay your bills on time every time

Tip 2: Watch and understand your credit utilization ratio. It is recommended not to use more than 30% of the credit available to you. This includes all your credit cards and lines of credit.

Tip 3: Diversify your credit mix (credit cards, loans, mortgages)

Of the Canadians who bought homes in 2022, 62% reported needing outside help, like family, to make their down payment an...
05/03/2023

Of the Canadians who bought homes in 2022, 62% reported needing outside help, like family, to make their down payment and say they would not have been able to afford their home without it.

When the down payment is gifted, the purchaser needs to provide the lender with the below information:

📌 Relationship to the individual giving the money
📌 The amount of money being gifted
📌 The property the money is gifted for
📌 A statement specifying the money is a gift and does not need to be repaid
📌 Contact information of the person giving the money
📌 The source the funds are coming from

Specific requirements may vary depending on the lender. Reach out for more information.

For self-employed borrowers, I open doors, not build walls! I have access to lenders specializing in self-employed borro...
04/04/2023

For self-employed borrowers, I open doors, not build walls! I have access to lenders specializing in self-employed borrowers that will take your whole picture into account. Together we will assess your situation and advise how to present all the details best. In fact, helping self-employed borrowers is one of my specialties.

If your mortgage is coming up for renewal, it is essential to get in touch so we can explore your options. With the Stre...
03/29/2023

If your mortgage is coming up for renewal, it is essential to get in touch so we can explore your options. With the Stress Test and today’s higher rate environment, some homeowners have difficulty qualifying at renewal and feel “stuck” with their current lenders.

The best thing you can do is get advice early and explore your options.

Second mortgages are usually taken out to help with short-term cash requirements, pay off higher-interest debts or for i...
03/14/2023

Second mortgages are usually taken out to help with short-term cash requirements, pay off higher-interest debts or for investment opportunities. Depending on your qualifications, a second mortgage will allow you to access 80% - 95% of your home equity. One of the attractive things about second mortgages is the payment. In most cases, you are able to pay interest only or interest plus the amount of principal you select.

For more information about second mortgages, send me a message.

At renewal, you can renegotiate everything about your mortgage – with no penalties – which means this is an important mo...
02/08/2023

At renewal, you can renegotiate everything about your mortgage – with no penalties – which means this is an important moment of opportunity. You may also want to discuss refinancing your mortgage to pay off debt, complete renovations, or pay for a significant expense ahead.

Reach out to explore your options.

Address

1135A Derry Road East
Mississauga, ON
L5T1P3

Opening Hours

Monday 10am - 5pm
Tuesday 10am - 5pm
Wednesday 10am - 5pm
Thursday 10am - 5pm
Friday 10am - 5pm
Saturday 9am - 4pm

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