Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: . T# J2 J! e& q4 k) y/ }) f0 T# g+ c8 Z' l: b/ n: a
1. Deal must close by August 28th 2009 9 L- N' v3 U3 v- }$ ^2. New Deals Only, No pre-approvals. M5 K% I q4 h' r/ v# D+ f
3. Switches and transfers are not permitted. ! {% E- @6 K: P7 v4. 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 # C% H( r9 E1 k6 H9 F5 a
5. Available on both conventional and high ratio (CMHC). 7 l! ^1 K) |2 n* D2 H1 w6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. % l- }( y o5 |6 b) Q7. Minimum amortization is 15 years.