Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: / ~/ r3 S0 Q) ?7 Q: k l/ R" i3 m% S8 H A1. Deal must close by August 28th 2009 9 C9 s- f; h o- _3 g& x' D
2. New Deals Only, No pre-approvals. . b8 {+ B# e! U3 H6 K
3. Switches and transfers are not permitted. 1 ?/ x3 q5 v/ r8 Z8 r* w
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 . x) [0 R& z I
5. Available on both conventional and high ratio (CMHC). - u. d1 H1 Y1 v6 V0 \) H! R6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. ; o$ Z: `% Q: D% F. w2 c
7. Minimum amortization is 15 years.