Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: 4 J2 w6 L9 s0 c0 l ; U# v! u7 `% C8 E& T( q: O1. Deal must close by August 28th 2009 0 [6 O" y) q! g/ _" ?( k- |+ S' a. w2. New Deals Only, No pre-approvals. / S& Z: e( v( R% l$ j
3. Switches and transfers are not permitted. 0 l* E: b! g5 q0 _
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 * b! P8 Y* a; x* `5. Available on both conventional and high ratio (CMHC). - u* c8 D* |$ U/ j% Q$ n/ s6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 9 R$ c7 r" X$ r, U! }+ \% n' I2 I
7. Minimum amortization is 15 years.