Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 9 H- }- _) o8 `* V; ]# d 7 K F. C9 j. {3 S1. Deal must close by August 28th 2009 - x9 G7 ]9 D: {1 X: H2. New Deals Only, No pre-approvals. 3 A/ a4 X5 i+ Q% ]/ A
3. Switches and transfers are not permitted. ) P0 }+ _1 j* ^$ p4. 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 ' b+ D2 R+ l g8 F8 W# F
5. Available on both conventional and high ratio (CMHC). + E" I" ^2 ~# S2 ~( l3 h
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. / ^2 F8 O' `0 E' u3 I* ~
7. Minimum amortization is 15 years.