Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 1 R @+ @! c% X! Y& u8 f" Y: N - U% o' n. u- X+ s1. Deal must close by August 28th 2009 9 R/ j& [+ d2 X2 G7 g& d( ]8 X4 ~
2. New Deals Only, No pre-approvals. 1 n- L# f7 X: B* h3. Switches and transfers are not permitted. % P4 S- X& j' e
4. 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 9 g3 r0 u' f. W. y( ~8 D8 m/ z& M+ z) S5. Available on both conventional and high ratio (CMHC). + `, f* D6 l& ?% H6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. + F# I& ]* k7 F
7. Minimum amortization is 15 years.