Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: # ~5 b( m; v+ K1 l8 p/ Y3 f* H4 s' Y3 H- y6 M" ?
1. Deal must close by August 28th 2009 3 D- Z9 D& F' N# J; m6 K7 l; p
2. New Deals Only, No pre-approvals. ! k9 M7 |+ v4 n( j( o
3. Switches and transfers are not permitted. % Z- [1 k" S6 s6 R4. 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 % S$ D9 S0 e7 _) q7 j# m* E$ B
5. Available on both conventional and high ratio (CMHC). * K" u3 J' \% V8 `: h5 w2 z( u" ]6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 1 H& ^' |2 z" c u0 \: m0 {) j G1 K7. Minimum amortization is 15 years.