Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:: [; r5 G! V; a! j5 D# q- Q% ?$ R
; o E7 O$ R- I" G* c1. Deal must close by August 28th 2009 ( g! F; U/ M# e' D2. New Deals Only, No pre-approvals. 1 ]1 d& M9 `" m [/ m# x
3. Switches and transfers are not permitted. ! A+ k" N4 {$ x6 A4. 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 - e8 o9 c- A0 O9 n! Z8 i
5. Available on both conventional and high ratio (CMHC). 3 p, i% W! X& |( O" l/ A& ~
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. : W& ^7 J* J* W2 Q } C7. Minimum amortization is 15 years.