Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: : e4 v% n; {: f4 a/ F5 B) _+ k& w % u+ n! w% N8 A: U1 ~0 D1. Deal must close by August 28th 2009 + k4 A% j5 S. x8 ~) g2 L: G0 V
2. New Deals Only, No pre-approvals. ( l7 E% E1 Y7 v% R& i0 [2 G
3. Switches and transfers are not permitted. . S; \1 z8 F6 V' f9 s
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 6 a/ e9 c" u% J; _5. Available on both conventional and high ratio (CMHC). 1 f5 P' i( G0 Y8 R" Y% p% y' y2 ^: b6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. . z1 X$ v; G, } v- k0 B' l5 z2 J7 ]' ^
7. Minimum amortization is 15 years.