Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:( X& O, v- J' ~& B+ X7 r
2 q; i% s( p/ y/ `4 H; H7 E! M1. Deal must close by August 28th 2009 0 X3 P1 v! d) O' H" `# Y8 Z
2. New Deals Only, No pre-approvals. - C5 O* u3 m2 A( Q
3. Switches and transfers are not permitted. . j" |/ f6 x% d" [4 ~8 b4. 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 & l% N7 g! V$ e9 Y5 f$ a$ Z
5. Available on both conventional and high ratio (CMHC). ' Z& |$ R6 u' q
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 3 p# ~( ~% V$ w
7. Minimum amortization is 15 years.