Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 4 c0 N8 M. a0 F1 l. J/ \8 [) p : ?) r4 c# ~. k1 {7 @: b$ ~1. Deal must close by August 28th 2009 6 W. A9 S; d1 m6 G$ H7 g" j
2. New Deals Only, No pre-approvals. 7 F: P* Z0 E; d: L7 r9 p6 I# q3. Switches and transfers are not permitted. 9 U8 c: u) s! `% V1 ` r3 w/ z4. 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 z1 B2 Y, S5 c8 X7 h1 F
5. Available on both conventional and high ratio (CMHC). 7 e6 _; o) }3 T3 G- i- c6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 7 Z! w# W. d/ y7 N" b' T: Q5 \
7. Minimum amortization is 15 years.