Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:3 M" B2 k" o: Z$ ?
4 H" p' V3 b" |" ]1. Deal must close by August 28th 2009 % v' m/ Z6 x. a/ B! a% C, D7 [
2. New Deals Only, No pre-approvals. # ^; s" R" k e* Q
3. Switches and transfers are not permitted. * I" g+ @! n9 w6 h0 n a. m& ~+ w4. 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 $ g; u5 [0 A7 A; S8 k
5. Available on both conventional and high ratio (CMHC). % w7 x, L- F6 E- m) H6 ?7 w1 c9 V6 j6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. ) G& W. y" f: _8 o
7. Minimum amortization is 15 years.