Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:( P% x; G" M4 C6 r7 z* U9 d
3 j* K, n: g% l; ` z" _1. Deal must close by August 28th 2009 5 q+ U5 L0 V5 v
2. New Deals Only, No pre-approvals. ! I3 J( U) F& b3. Switches and transfers are not permitted. 3 D j8 ]& b3 L4. 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 8 H: p! K& o% J- O% |. g5. Available on both conventional and high ratio (CMHC). 1 |; \: V8 ^; w7 |
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 8 p* q- k( ?! ^1 g ~7. Minimum amortization is 15 years.