Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients:7 C# I# K- W$ P' x% g3 j, [; w+ R
; j( { \- ?7 I$ `1. Deal must close by August 28th 2009 / U/ |2 p9 I" a3 O2. New Deals Only, No pre-approvals. & l% K# e6 R5 X1 V
3. Switches and transfers are not permitted. 0 `8 Y q/ G g1 V+ E) _6 J' J4. 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 X' @1 o' K( c7 _! N) b0 v5. Available on both conventional and high ratio (CMHC). , D9 l. r5 i! w5 E7 F
6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. 9 f6 U3 A" S6 G7 Y* y* Z7 M
7. Minimum amortization is 15 years.