Today MERIX is launching an 18 month Fixed Rate term at the rate of 2.75% for you to offer your clients: ' O+ m* |; G ], l" D # D2 B$ U2 f3 u" l5 o, ~. R8 v1. Deal must close by August 28th 2009 9 K& a* ]) l3 D6 Y
2. New Deals Only, No pre-approvals. ( H G4 k: L; B+ T- Y2 ~' d; a9 [. U3. Switches and transfers are not permitted. 5 q8 u) ]9 o6 V8 Z) f5 j
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 q: I1 p; Y4 s$ M$ \
5. Available on both conventional and high ratio (CMHC). 6 L* x! g- p) c4 r+ U6. 15bp premium would be added to the rate where applicable for Rental properties or BFS applicants. $ J) f0 {+ V. ^$ J Y) H' h' ]
7. Minimum amortization is 15 years.