Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:$ U" W2 f1 U4 e8 s& V! m
9 {1 A D J, y ]' {# }4 }6 L1. Deal must close by August 28th 2009 ; H0 C5 G; Y+ \
2. New Deals Only, No pre-approvals. ' F4 N- m0 s7 V) H
3. Switches and transfers are not permitted. ( I; j+ {9 ?3 c' g% M3 O
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 # N4 i; p3 y# A6 G3 y* F
5. Available on both conventional and high ratio (CMHC). 0 C: L5 U4 u1 H8 u# o- ?: i
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 0 `" N8 ]7 k& ?4 J- Y$ v4 |! O7. Minimum amortization is 15 years.