Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: " z% V3 c2 u) L9 G) O8 j! n" }( N0 a3 Y$ i* S* W
1. Deal must close by August 28th 2009 * H- T# B( k; ^4 V& _' W ]
2. New Deals Only, No pre-approvals. ! y+ h( \1 i: |; i; l- g6 k3. Switches and transfers are not permitted. 1 j, C! I9 p4 v- r0 F: Q4. 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 0 s4 T# y/ b; W+ l# I" \, l
5. Available on both conventional and high ratio (CMHC). : R# @9 n" g- J* E! n' K
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. - f7 j5 ]& h& @( h3 R7. Minimum amortization is 15 years.