Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: / T5 b( o$ o2 R7 U( M1 }. v& o3 }$ A. u2 i% o9 c; \9 P6 o! u& S6 F
1. Deal must close by August 28th 2009 . [0 m3 a( [# ]% _9 X2. New Deals Only, No pre-approvals. % R! o- c$ w/ W! j5 g4 }
3. Switches and transfers are not permitted. # g, ^6 M4 a2 w( J6 F
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 & s7 m& [4 P) f0 \5. Available on both conventional and high ratio (CMHC). + R% s, ~* _! E! u0 U2 T# W
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. ) ]9 M0 F0 y( h6 {7. Minimum amortization is 15 years.