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Category Archives for "Mortgages"

Self Employed Mortgage Miracles – How Self Employed Individuals Can Qualify for a Mortgage.

Once upon a time, there was a princess and her name was Cinderella. Cinderella was self-employed and she sold shoes. Cinderella wanted to buy a big huge castle. She went to all her local banks and they said no. They said she just didn’t make enough money. Her tax returns showed only $20,000!

We all know… The $1: $4 rule. For every $1 earned, you qualify for a $4 mortgage. Hence, if you make $100k, this is equal to a $400k mortgage. Along came the fairy godmother and the fairy godmother was able to use projected income. Princess Cinderella was super happy and bought her big huge castle and lived happily ever after.

Who can I help?

  • Self-employed Canadians

  • Individuals showing low income but have side cash jobs

  • Must have a min. of 10% down payment

  • Must have excellent credit

  • Must be in the business for a min. of 1 year

Book a complimentary call today. My services are free!

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Should I Change My Mortgage When Rates are Dropping? – What to Do

Rates are dropping. They're going down fast due to the COVID - 19 outbreak. Right now, prices are changing every single day.

I'm getting a lot of emails and many calls from all my clients, and they're just asking, "Hey Sylvia, can I get a lower rate?" and that's a conversation that we should have. If you are wondering the same thing, it's going to all be dependent upon what your penalty will be.

How much mortgage you have outstanding if you have any debts? So, for example, I did a calculation yesterday for a client, and in the end, it was not worth it based on their penalty and their mortgage amount for them. I said, "No, stay where it is cause it's not worth it for you to break the mortgage."​

If you have any questions about building wealth through real estate connect with me for a free call.

She's Happy To Help

My Personal Story - Investing in Real Estate Almost All of My Life in Toronto

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CHANGE YOUR CAR AND HOUSE INSURANCE ANNUALLY!

New insurance companies are eager to get your business. It’s work to call around, but do it! Put the annual savings towards your mortgage.

I changed my insurance company last year and saved about $2k for my home, car and other rentals. Anything you can save can go directly to your mortgage that year.  

Action plan:

  1. Call your current insurance company and ask them if you can lower the pricing somehow.  
  2. Call around to other companies or insurance brokers. I have some recommendations. 
  3. Make sure you compare apples to apples with the same deductibilities, coverage, etc.  
  4. Put those annual savings to the mortgage right away! 

Disclaimer: I am not versed in insurance, but this worked for me and saved me money. So, make informed decisions and ask the professionals and experts in that field.

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Creating a Budget to Pay Off Your Mortgage Fast

Create a budget and spend less on Starbucks so you can pay off your mortgage faster. Put that $340 per month directly to your mortgage, so you pay less interest.

We all know we can be better at spending less money.

Let’s do some math…

Coffee costs around $5/day X 20 work days = $100. 

Lunches cost $12/day X 20 work days = $240. 

Put that $340 directly towards your mortgage instead.  

Cut out non-essentials, such as cable, or home landline or magazine subscriptions. 

Action items:

  • How many more years before your retirement?  
  • Take out your mortgage statement and see if you will be mortgage-free before you retire. Look for the work amortization.  
  • Take out last month’s credit card bills or interact statement and add up your non-essential spending. If you never look at your spending, you won’t change your habits.
  • Make a plan to cut down spending.  
  • Visualize your plan to pay off your mortgage.  

Call me today for a personalized plan! 
Let’s live a life free of debt, including your mortgage!

FREE YOURSELF FROM DEBT & EXPERIENCE FINANCIAL PEACE!

Want to Retire Debt Free?

In the Live Debt free program, I will teach you how to pay off your debts including your mortgage!

  • Get the best option for your family with Sylvia Ho’s mortgage expertise.
  • Accountability to keep you on track for your wealth building goals.
  • FREE VIDEO TRAINING - The 12 Concepts to Live Debt Free

Click the Button Below to Sign Up for FREE Today!

11 Reasons to use Sylvia Ho -Mortgage Agent Versus a Bank

Free service of actual value!  Banks pay me my commission.  I don’t charge you for my services.  It’s cheaper for the lender to pay me a commission than to pay a salaried individual with overhead costs.  

Lower rates!  I get you wholesale pricing as I work directly with the head offices of the lending institutions.  I receive emails EVERYDAY on different specials that are going on. I continue shopping around till your house closes.  

Education!  I help my client’s compare different mortgage products offered by different lenders.  This way you can make an educated decision on which mortgage product better suits your needs.  

Think outside the box!  I was talking to a client about upgrading their home.   As the conversation continued, it became a discussion about building a family safety net and having a proper ER fund and then buying real estate in the future.  As I know your financial goals, I can help you plan! 

Personal experience!  My mom taught me how to build a real estate empire.  I am a professional landlord. I want to teach you!   

Let me do all the hard work for you!  I will shop around to my 30 different lenders.  Some lenders only work with mortgage specialist, so, if you don’t work with a mortgage agent, you are missing out on potentially large savings!  If you go into a branch to get a mortgage, they have just 2-3 different mortgage options. But by going through me, you have over 30 different lenders!   

Mortgage coach!  Mortgages don’t pay off themselves.  What’s your magic number to pay off your mortgage?  Let me teach you 12 concepts to pay off your mortgage FAST!  Banks won’t teach you this! Financial planners won’t either!  Sign up for my free coaching program! 

Customization!  Mortgages aren’t one size fits all.  Everybody has different financial goals in life as this depends on the stage of life you are in. I will find a mortgage product that best suits your needs and financial goals. 

Convenience!  I have 2 kids who play competitive sports and are super busy.  Everyone is busy! The process of getting a mortgage through me is very easy as everything is done via email and phone calls.  

No surprises!  There are no surprises when you work with me.  For the last 20 years, my business has been based upon past clients referring other clients to me.  My client’s love the advice I give them. I listen and I serve. How can I serve you?

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Earn Extra Income to Pay Off Your Mortgage

Having a plan to pay off your mortgage is essential. If you fail to plan, you will plan to fail. I had a client who increased her payment by $20, and this made a $6k difference at the end.  

Be creative!  

I am a huge Marie Kondo fan. She promotes that art of surrounding your self with items that make you feel happy. I purged my home and sold my items. The things that didn’t sell went straight to Good Will, local shelters or Salvation Army. I also got the kids involved, and they loved it! 

I have a friend who is a police officer, and he picks up extra shifts on his days off. I had another client who worked after the kids were in bed bartending at a local pub. I just saw a family sell tomato plants and echinacea plants with the kids. Rent out your basement or garage or mow your neighbour’s lawn. Other ideas are renting out your basement or garage or parking spot if you aren’t using it during the daytime.   

Action Items:

  1. Have a goal in mind for the year. Do you want to earn $1200? Or $600? If it’s $600, that’s $50 a month.  
  2. Be Creative!
  3. Post on Facebook to offer your services. Make sure you offer a service or item that brings you joy and not just another side job. If it’s just another side job, you will quickly lose your motivation.  
  4. Track the money earned and put that extra income directly to your mortgage.
  5. Visualize your Live Debt Free Plan

Call me today for your personal Live Debt Free Program!

Pay Off Your Mortgage & Create Financial Peace

In the Live Debt free program, I will teach you how to pay off your debts including your mortgage!

  • Get the best option for your family with Sylvia Ho’s mortgage expertise.
  • Accountability to keep you on track for your wealth building goals.
  • FREE 5-MIN VIDEO TRAINING - The 12 Concepts to Live Debt Free

Click the Button Below to Sign Up for FREE Today!

Don’t Pay Property Taxes with Your Mortgage Payments

Many Canadians pay their property taxes with their mortgage payments. I agree that it sounds much easier, but you are leaving money on the table!

Depending on when you start your mortgage, you can be in a deficit or credit position with your lender. If you are in a deficit you will pay interest to your lender till you have caught up. If you are in a surplus, the interest earned is minimal.  

I recommend paying your property taxes directly to the city. By paying directly, you will never pay more than you owe. Many cities have preauthorized debit plans. 

Action plan:

  • Go to your local city’s website and look up the pre authorized property tax payment program.
  • Sign up!
  • In Toronto, you complete a form online, email it in with a VOID cheque.

It’s super easy!

FREE YOURSELF FROM DEBT & EXPERIENCE FINANCIAL PEACE!

Want to Retire Debt Free?

In the Live Debt free program, I will teach you how to pay off your debts including your mortgage!

  • Get the best option for your family with Sylvia Ho’s mortgage expertise.
  • Accountability to keep you on track for your wealth building goals.
  • FREE VIDEO TRAINING - The 12 Concepts to Live Debt Free

Click the Button Below to Sign Up for FREE Today!

Do You Have a Flexible Mortgage Contract?

Most lenders give you opportunities to pay down your mortgage.

Some lenders allow you to do this on EVERY payment date and hence, possibly 52 times a year!

Some lenders will only let you to do this one time per year.

However, if that one day happens to land on a Sunday or a holiday or you are sick or busy, you may have to wait till next year.

Understand your mortgage contract.

Life is busy, and we are juggling so many important things.

Find a lender that makes it easy for you and works with your lifestyle.

Find out the method to pay down your mortgage.

Some ask you to book an appointment and head into the branch.

Some lenders will ask you to snail mail a certified check or line up at the teller.

For me, with two kids and a busy hockey and cheer schedule, I prefer to have everything done online.

Know your options and do your research.

Make sure the process is easy, simple and works for you.

Chat with Sylvia

Click the Button to Book a Call

FREE YOURSELF FROM DEBT & EXPERIENCE FINANCIAL PEACE!

Want to Retire Debt Free?

In the Live Debt free program, I will teach you how to pay off your debts including your mortgage!

  • Get the best option for your family with Sylvia Ho’s mortgage expertise.
  • Accountability to keep you on track for your wealth building goals.
  • FREE VIDEO TRAINING - The 12 Concepts to Live Debt Free

Click the Button Below to Sign Up for FREE Today!