Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:" k/ c) y% Y8 ~) w1 E
3 c- t: G* |' S$ d6 \6 l3 a9 z; G& d1. Deal must close by August 28th 2009 P# f; t8 a. C* L5 P- t7 w2 q2. New Deals Only, No pre-approvals. 1 _/ J8 [4 P$ p/ W9 I# p: h: q3. Switches and transfers are not permitted. 8 U" E: {% r; A4 Z6 M' }/ @6 |
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 & P& R% i" j# y8 J5 D
5. Available on both conventional and high ratio (CMHC). ) b6 q' e& Y2 w7 _ W. u* ^: k
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. + N) }! z7 `$ R- Y5 j$ @
7. Minimum amortization is 15 years.