Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:6 H4 k. E: b7 w& S* X u
' u2 E1 v& p# w1. Deal must close by August 28th 2009 & q& k" d( E% `: R# m4 H- n
2. New Deals Only, No pre-approvals. ( V% x+ k4 \$ z* j
3. Switches and transfers are not permitted. % C Q$ U4 b; V3 p, |- }* p4. The 18-month term is convertible at any time with no penalty to a 5 year fixed rate mortgage, at published rates available at time of conversion ( V {" t, v! @1 a5. Available on both conventional and high ratio (CMHC). - O5 ^" t8 \8 M5 T# q- [
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. ( j/ g3 E9 E1 T6 s c
7. Minimum amortization is 15 years.