Mortgage Specialist

Term BEST RATES
Prime 2.85%
6 month 3.10%
1 year 2.79%
2 year 2.24%*
3 year 2.44%*
4 year 2.54%*
5 year 2.69%*
5 year Adjustable Prime Minus .70% (2.15%)
6 year 3.79%*
7 year 3.39%*
10 year 3.84%*
*rates are subject to change without notice

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Amy Frampton has been a Mortgage Specialist with The Mortgage Centre for the past fifteen years. She is knowledgable about all the different lender products and services available and looks forward to providing clients with their ideal mortgage rate and options. Her primary focus is providing timely top-notch customer service with a smile while helping clients secure the best mortgage available.

Amy has completed the Mortgage Agent course at Seneca College and recieved her Accredited Mortgage Professional (AMP) designation in 2004. She maintains this designation by completing a number of continuing education courses annually. Prior to joining The Mortgage Centre, Amy taught piano part-time while attending the University of Windsor. She attained a Bachelor of Arts degree and received the Board of Governor’s medal of academic excellence.  Amy has lived in the Chatham-Kent area all her life and she currently lives in Chatham with her husband, Ryan and daughter, Meghan. Amy invites you to come in and see her for all your residential mortgage needs. Whether you are looking for a new mortgage or to renew your current one, Amy will be happy to assist you in any way she can.

Click here to view Amy’s website

 

A Note from Amy about the NEW Mortgage Rules:

As part of the Government’s continuous efforts to strengthen Canada’s housing finance system, the Honourable Jim Flaherty, Minister of Finance, has announced further adjustments to the rules for government-backed insured mortgages (those mortgages with less than 20% equity).

The Government is announcing four measures for insured mortgages with loan-to-value ratios of more than 80 per cent:

* Reduce the maximum amortization period to 25 years from 30 years. The intent of this is to reduce the total interest payments Canadian families make on their mortgages, helping them build up equity in their homes more quickly and pay off their mortgages sooner. The maximum amortization period was set at 35 years in 2008 and further reduced to 30 years in 2011.

* Lower the maximum amount Canadians can borrow when refinancing to 80 per cent from 85 per cent of the value of their homes. The intent of this will promote saving through home ownership and encourage homeowners to prudently manage borrowings against their homes.

* Fix the maximum gross debt service ratio at 39 per cent and the maximum total debt service ratio at 44 per cent. This will better protect Canadian households that may be vulnerable to economic shocks or an increase in interest rates.

* Limit the availability of government-backed insured mortgages to homes with a purchase price of less than $1 million; this means to purchase a home in this price range, you will need a minimum of 20% down

“Investing in a home is a great way to save,” said Minister Flaherty. “That is the dream that mortgage insurance was intended to support. The measures we are taking today maintain that intended purpose.”

Minister Flaherty said the new rules will take effect on July 9, 2012.