Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:0 N4 M9 R" ^8 u% L* o' [5 @$ H
/ |5 t3 R9 R/ l- b1. Deal must close by August 28th 2009 ! w; v% W; N# U0 z# c" `3 u6 K) C
2. New Deals Only, No pre-approvals. h- N0 E4 ] Z* e3 R- f
3. Switches and transfers are not permitted. 1 P ? H W& z# h, y9 Y. J) x7 U
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 0 Y4 f. g& f# L* }, _
5. Available on both conventional and high ratio (CMHC). $ L: i. e* `: M' }0 \6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 2 P) w6 _: @7 i9 U$ K0 I" K" p7. Minimum amortization is 15 years.