Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 8 _! j# ?+ k4 Q; s/ } * b0 Q! h# `( N& K4 {( p' d9 u# }1. Deal must close by August 28th 2009 ; q4 l n' E8 U2 ]& P( q9 G6 S
2. New Deals Only, No pre-approvals. 6 [, {4 r0 n6 N; S0 E% G- v2 ]) A
3. Switches and transfers are not permitted. : L$ ]: M t& {) H! i4 S9 G1 E 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 ! ?* }/ I: C4 K+ y5. Available on both conventional and high ratio (CMHC). ( x3 I! P }: C D5 ` k
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. + o# k2 [# c4 H7. Minimum amortization is 15 years.