Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 3 C7 u# R1 ~' l$ k8 T+ J5 G, Y7 M% v3 S" a$ L: L
1. Deal must close by August 28th 2009 : M) p& f6 m6 l! \
2. New Deals Only, No pre-approvals. 5 C0 }- _" X! U! X' n: }' s# F
3. Switches and transfers are not permitted. 2 a9 j! k/ d1 A4. 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 1 @, G" y- l- [8 W3 R) o6 w5. Available on both conventional and high ratio (CMHC). ) A: X5 y$ e# p) ^9 q- \. ]. g6 t
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 8 f3 S j1 o: n' }
7. Minimum amortization is 15 years.