Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:" L+ U7 _& w- J8 w. a
/ ^5 I6 U" N! ]1 K. N1. Deal must close by August 28th 2009 : |! g! Q% f) P3 h1 c7 @$ ]4 I( {% A2. New Deals Only, No pre-approvals. 9 ]# a7 P, I: I$ ^% f
3. Switches and transfers are not permitted. / Q' s& B- I* V7 Q8 @0 ~3 d4. 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 D/ }6 n: h+ q0 o) ^5 w+ Z% Z2 B5. Available on both conventional and high ratio (CMHC). 4 ^, l. Y! F" ?( {$ }: O& y6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 3 {1 t& m" R8 v0 d. E- w8 n
7. Minimum amortization is 15 years.