Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: # N8 W; h# l' ^2 v 7 M9 N$ d' l C* S; k1. Deal must close by August 28th 2009 & G B3 ?. P. j1 \2. New Deals Only, No pre-approvals. 7 U& P5 S! s5 L# }' R. F+ L3. Switches and transfers are not permitted. " r: m& J( J2 s' a* [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 ! y1 N5 ~" g7 l8 ], D# R) g
5. Available on both conventional and high ratio (CMHC). ^& s" ?5 _/ d* ?- c2 n6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. & N: Q9 C8 K6 j0 S5 N: {: |. `3 \+ U
7. Minimum amortization is 15 years.