Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:1 V Q- t2 r' v3 M e! B a
' d; {: p3 v Q' x/ o5 m1. Deal must close by August 28th 2009 8 t* M+ h; M# p- S. u
2. New Deals Only, No pre-approvals. 5 i: @9 \* C1 X3. Switches and transfers are not permitted. 3 h- o% Q4 m D( f
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 , a% n( n. Y) P& U @& F! Y9 i5. Available on both conventional and high ratio (CMHC). 3 @- ]0 m( j" y( T
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 4 Y; i5 l* v- {
7. Minimum amortization is 15 years.