Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: ( T! l) J) {8 g9 d9 p* x# K! ]; ]+ ?
1. Deal must close by August 28th 2009 4 L7 b4 V1 }$ {' I! A6 C% {2. New Deals Only, No pre-approvals. ' j3 h% G$ w' Q
3. Switches and transfers are not permitted. & V5 I" E8 z/ v
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 0 ]8 K" A9 M( a# I8 l2 S
5. Available on both conventional and high ratio (CMHC). ; K3 K8 Z0 R6 d: z1 o
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 4 E( _, z2 \) S
7. Minimum amortization is 15 years.