Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: J* T1 E& P7 l7 b9 @. P
# Y& k' w, R7 K4 J( N% S1. Deal must close by August 28th 2009 0 L0 S" P5 W! J5 S2. New Deals Only, No pre-approvals. 9 o% n% {& ]- x
3. Switches and transfers are not permitted. 0 o, a( _. R* t) `. b1 I8 h4. 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 # O- ~4 i: ]- }8 b: m1 ?' m. L8 y
5. Available on both conventional and high ratio (CMHC). 7 z4 l m i2 i6 d6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 5 b M0 P7 A& R! ?* S
7. Minimum amortization is 15 years.