Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: ! o3 z- Q( T4 ]$ w' n& k! ~0 J- k) k5 y. _4 f3 ?& y
1. Deal must close by August 28th 2009 : E( C7 }& ?3 u, e9 y% f2. New Deals Only, No pre-approvals. 8 D4 q2 J; t7 W
3. Switches and transfers are not permitted. + B( P1 z5 L( ~
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 9 j7 V% R4 |" L9 k+ b
5. Available on both conventional and high ratio (CMHC). 9 U3 x0 X \2 X N/ s r# q
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. - v* a7 H( S, \; p# r i
7. Minimum amortization is 15 years.