Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: ' w# \* p8 \ R+ Q7 k& M& ]! R) S* T+ i1 U2 ?; u
1. Deal must close by August 28th 2009 ! @& ^7 R- R+ t& |* ^
2. New Deals Only, No pre-approvals. $ \" F2 I: k- Z0 r8 a/ E, i3. Switches and transfers are not permitted. / y1 L9 Q/ i) [; A) s% W Y
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 5 ?% G$ e- Z3 v% G
5. Available on both conventional and high ratio (CMHC). 5 s! ~4 M d9 ^' P% A% r0 V
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. # J( ~ L, E1 ^8 J5 k' k/ B
7. Minimum amortization is 15 years.