Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 4 A0 q+ |& W) ~- _5 @1 {: N u ?! b. z1 G
1. Deal must close by August 28th 2009 ; ?/ \) N/ X6 D! Y) a3 Z. O
2. New Deals Only, No pre-approvals. 1 g( R. r5 T* S8 G# \' @, N
3. Switches and transfers are not permitted. # Z: U+ }( @1 R5 E3 H' T8 Y Q1 C
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 # x# y a: j: V' n5. Available on both conventional and high ratio (CMHC). & T) O8 t( H: Z" E2 p6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 3 a$ D* {5 `& X6 M# y
7. Minimum amortization is 15 years.