Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: : V* i9 N+ Z0 Y* K& W2 e / {: v, G" F+ n7 Q+ D h3 F& f6 E1. Deal must close by August 28th 2009 # |7 q% w& c" l1 J2 r' Z+ e$ E7 r2. New Deals Only, No pre-approvals. & S: c* H; ]/ [
3. Switches and transfers are not permitted. 5 h T2 X( g0 J7 T6 C! T: ~9 S/ l: M
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 % v6 |7 Z8 T% T6 w3 {
5. Available on both conventional and high ratio (CMHC). " n( w7 q- K# l0 g/ h
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. + U8 i ?4 |3 A6 f
7. Minimum amortization is 15 years.