Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: ' U0 w$ [/ {: M9 F9 k7 s+ {% `9 R2 C b7 f; W# x
1. Deal must close by August 28th 2009 7 K5 a/ D& v* U: V1 ^" ]
2. New Deals Only, No pre-approvals. * u$ x6 ?' `5 d3. Switches and transfers are not permitted. ' N4 |3 f2 O, p9 p4. 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 # V2 P9 G1 M: K3 b5. Available on both conventional and high ratio (CMHC). : y& G) O- {; D% B4 j
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 4 `" b; l3 k2 m `, ?* u' z& E7. Minimum amortization is 15 years.