Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 7 Z4 E) I3 s3 ~5 \% X' {% v: D" k5 P 0 L5 K6 }7 S4 d1. Deal must close by August 28th 2009 : Q+ p- L) y' a: O( G
2. New Deals Only, No pre-approvals. # g5 g5 l @ K" y# c! N5 r4 P3 ]3. Switches and transfers are not permitted. 6 G) h S* F5 k8 a4. 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 # H) _; G6 D1 d0 d, g
5. Available on both conventional and high ratio (CMHC). 2 P7 b9 B% X k g* O& y
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 8 }$ h7 P- w9 }( R0 |, C$ |7. Minimum amortization is 15 years.