Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: V. d2 O% H1 O% w) u. S) N2 V& c$ z( _+ l" t8 U
1. Deal must close by August 28th 2009 7 z b+ `& L4 ]* q' ~: y/ V3 v2. New Deals Only, No pre-approvals. 7 T% K, {( v8 G6 H3. Switches and transfers are not permitted. $ o+ b* U# L8 Y& U% A. U0 a- l
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 3 L$ m; \$ B3 i+ y' y; _! L" a
5. Available on both conventional and high ratio (CMHC). * R, N; i9 Y3 ~4 n! s6 X% B
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. & t2 C* u. n4 I1 t! O( Q( u
7. Minimum amortization is 15 years.