Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 2 O9 V( h; ]* A2 f1 ~3 r3 ]2 x$ x$ n, g8 f
1. Deal must close by August 28th 2009 2 s( u$ k2 ~% F% o& l- O( A) c0 M
2. New Deals Only, No pre-approvals. 9 m1 ]" ?9 ]( ^: `4 E1 ]5 G
3. Switches and transfers are not permitted. + ?( B. m# R' p, o% \) x6 e3 `
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 ; u; f s$ B G9 F2 k6 F8 v
5. Available on both conventional and high ratio (CMHC). $ c1 g$ S8 {; U4 X0 s
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. ( [5 h1 Z2 p% P' r4 I7. Minimum amortization is 15 years.