Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 0 j4 [2 P& p( `6 D9 x6 I! A" {: L% j8 a
1. Deal must close by August 28th 2009 " r/ J& ^2 W6 p0 v) h# T2. New Deals Only, No pre-approvals. ; k2 t' X$ _; g% ^" g/ ]7 O1 c3. Switches and transfers are not permitted. ' t% Y& {$ Q* Y2 S, H0 u. n& n
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 ( D' `- _; ^3 T1 m' f! W4 N$ |5. Available on both conventional and high ratio (CMHC). / h1 Z/ r2 f) a; w& ^
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 1 ]; i0 Z" a C9 g& V, M5 n
7. Minimum amortization is 15 years.