Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: ! e- `" l+ S( b8 U8 @* d/ H& P
1. Deal must close by August 28th 2009 , C0 e7 }% v- O" X& X' P2. New Deals Only, No pre-approvals. ' |; H, D% c8 Z
3. Switches and transfers are not permitted. + v# ~5 S" V$ f/ Y1 ^
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 7 a/ g' \! V9 L# v; T: h
5. Available on both conventional and high ratio (CMHC). : n. |+ `& s( w: v" f; z2 e8 D# {6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 9 V! B7 t& F" j7 S7. Minimum amortization is 15 years.