Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:# Q9 V2 [: Z* s) ?; B: ?
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1. Deal must close by August 28th 2009 + q9 K" j; }3 x6 `& G$ f' a6 I
2. New Deals Only, No pre-approvals. 1 Q9 O/ ]5 \7 W3 o% M3. Switches and transfers are not permitted. 2 }2 {/ J/ M" o, Q6 d4 {
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 3 M+ ^! ~2 p/ S$ \. X5 \: K/ @; j5. Available on both conventional and high ratio (CMHC). ) Z3 D' {& [% f
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. / A( [$ p7 J) ]: G* N) M- a
7. Minimum amortization is 15 years.