Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:) A/ E: [9 S8 v$ D& d
4 u" g% J2 d. C1 T8 L* @$ Z2 E1. Deal must close by August 28th 2009 3 y$ G8 N* {8 a4 G# x5 S2 E6 p1 A
2. New Deals Only, No pre-approvals. 8 K2 w$ V5 }. _( L! X9 F. L7 `
3. Switches and transfers are not permitted. 4 g) l) v4 c6 r4 s I8 x3 R4. 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 ! n: S [! c( Y5 q/ ~
5. Available on both conventional and high ratio (CMHC). D. O9 J/ o6 O- L6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 6 [" ?# C; x0 O- c, k9 G' o7. Minimum amortization is 15 years.