Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: , N. \0 V& L( {& ~- l1 Z( [6 b8 h: s
1. Deal must close by August 28th 2009 ; x5 _; S% x) E8 f; Z- ^6 X2. New Deals Only, No pre-approvals. / V% @5 u! p- z3. Switches and transfers are not permitted. 7 w! C- y9 b g, N: y$ v4. 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 9 ?) n& \7 y! l& k" [" M" q
5. Available on both conventional and high ratio (CMHC). / d8 r2 _/ K r j9 o- o4 _6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 3 d- e* z. X: }7. Minimum amortization is 15 years.