Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: & n/ f9 C, K8 k" _: M& R3 G2 n( M* P+ c- Q5 T3 _
1. Deal must close by August 28th 2009 e% v* ]$ v) Q/ S0 Q: [7 e
2. New Deals Only, No pre-approvals. / e& G) b/ t. _- Y% R. _3. Switches and transfers are not permitted. - i) M; L& z) q0 K$ f4. 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 3 {$ Z2 s* y/ R/ N( v
5. Available on both conventional and high ratio (CMHC). 4 G# q; E* m- m) U
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. , y# i! [3 B$ p& {. d0 X% `
7. Minimum amortization is 15 years.